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3418 Brookwood Drive La Porte, TX 77571

4 Beds 2 Baths 1,444 sqft Built 1984

$169,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $117.66
  • 2 Days on Market
  • MLS # : 51285627
  • Updated Date : 11/21/2020 at 12:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Realty Associates

Listing Agent's Description

Please excuse our mess owner is in process of moving. Nice 4 bedroom in La Porte close to beltway 8. Master and small bedroom/office downstairs other 2 bedrooms upstairs. Large back yard with large covered porch with a couple of fruit trees. Also has large carport in backyard that can be accessed by easement along back fence. Laundry room inside or one in the garage. Oversized 2 car garage Windows in house have been replaced and Kitchen cabinets and flooring in kitchen have been redone. House never flooded per owner.

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: La Porte

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $86k222k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: La Porte

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9251677

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
College Park Elementary School Primary Regular 507 29 7
Lomax Junior High School Middle Regular 626 37 7
La Porte High School High Regular 2,119 134 5

College Park Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 29
7
GreatSchools Rating

Lomax Junior High School

  • Education Level: Middle
  • # of students: 626
  • # of teachers: 37
7
GreatSchools Rating

La Porte High School

  • Education Level: High
  • # of students: 2,119
  • # of teachers: 134
5
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$627
Property Tax -$418
Property Insurance -$125
HOA -$4
Property Management Fees -$99
CASH FLOW
$157

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$169,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$14,649

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,430

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,379

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4503$1,4504$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 3418 Brookwood Drive La Porte, TX 1
    • 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.99
    •  
  • 8810 Oakhaven Road La Porte, TX 2
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1973
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 8423 Bandridge Road La Porte, TX 3
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1970
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 3347 Fern Rock Drive La Porte, TX 4
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1975
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.00
    •  
  • 8418 Bandridge Road La Porte, TX 5
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1971
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Larry Toombs
1.281.358.8553
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 51285627
Last Updated: 11/21/2020
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