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3803 Aspen Drive La Porte, TX 77571

3 Beds 2 Baths 1,631 sqft Built 1983

$215,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $131.82
  • 2 Days on Market
  • MLS # : 52243223
  • Updated Date : 01/16/2021 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,631 sqft
  • Baths : 2 full
Listing Agent

Turner Mangum,llc

Listing Agent's Description

Location can't be beat!! This very well maintained home boasts a large open living area, split floor plan with 3 bedrooms and 2 baths. Major updates include a new roof in 2019, new a/c in June of 2020, updated kitchen and bathrooms, recently painted throughout the entire home, and extended covered patio with an outdoor sink. This home is a must see for anyone looking for a home in the area!! Call today to schedule your private tour!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (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
Jennie Reid Elementary School Primary Regular 507 29 8
La Porte Junior High School Middle Regular 553 35 6
La Porte High School High Regular 2,119 134 5

Jennie Reid Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 29
8
GreatSchools Rating

La Porte Junior High School

  • Education Level: Middle
  • # of students: 553
  • # of teachers: 35
6
GreatSchools Rating

La Porte High School

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

$193,500$236,500$215,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$747
Property Tax -$520
Property Insurance -$137
HOA -$13
Property Management Fees -$99
CASH FLOW
$174

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.

$215,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.79%

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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$13,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,6905$1,795
$1,795
RENT COMPS ANALYSIS
  • 3803 Aspen Drive La Porte, TX 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.04
    •  
  • 10841 Mesquite Drive La Porte, TX 1
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1984
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 10114 Rustic Gate Road La Porte, TX 2
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 10847 E Idlewood Drive La Porte, TX 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1985
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 11007 Spruce Drive La Porte, TX 5
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2001
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Jared Turner
Turner Mangum,llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 52243223
Last Updated: 01/16/2021
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