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3813 Clover Lane Deer Park, TX 77536

3 Beds 2 Baths 1,180 sqft Built 1980

$179,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $152.46
  • 7 Days on Market
  • MLS # : 22543827
  • Updated Date : 12/29/2020 at 10:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent

Re/max Top Realty

Listing Agent's Description

Cheaper than Rent along with Tax Advantages, sounds like a great deal right? Check this one out, so many good features, including a brand new added covered patio along with an extra concrete walkway to the oversized Storage Shed. Split floor plan, large living room with high ceiling and kitchen open to both Living and Formal Dining Room. Great neighborhood close to everything you need. Call a Realtor today to request more information or to set up a showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Deer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k241k

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

Neighborhood: Deer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9461993

* 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
Heritage Elementary School Primary Regular 560 30 7
Lomax Junior High School Middle Regular 626 37 7
La Porte High School High Regular 2,119 134 5

Heritage Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 30
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
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$664
Property Tax -$461
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
$130

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.

$179,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.2%
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-$2.0k$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$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,541

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,307

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4604$1,4755$1,525
$1,525
RENT COMPS ANALYSIS
  • 3813 Clover Lane Deer Park, TX 3
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.24
    •  
  • 3702 Clover Lane Deer Park, TX 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1983
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 9804 Robin Street La Porte, TX 2
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1978
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 9812 Robin Street La Porte, TX 4
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1978
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.13
    •  
  • 2118 Cammy Lane La Porte, TX 5
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1981
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kimberly Walt
1.713.248.8076
Re/max Top Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22543827
Last Updated: 12/29/2020
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