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3827 Rosemont Drive La Porte, TX 77571

3 Beds 2 Baths 1,536 sqft Built 1981

$219,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $143.16
  • 5 Days on Market
  • MLS # : 88981008
  • Updated Date : 02/10/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,536 sqft
  • Baths : 2 full
Listing Agent

Prime Realty Group

Listing Agent's Description

Take a look at this beautiful updated home in Fairmont Park. This home offers 3 bedrooms and 2 full baths. The large living room has brand new laminate flooring and new paint throughout. The kitchen has been completely updated with new cabinets, granite counter tops and recently installed appliances. The master offers a walk-in closet, new laminate flooring and the master bath has been updated with a walk-in shower and a new vanity. Outside you will find a covered back patio and a brand new fence. Foundation work was just completed with a transferable warranty. Don't miss out on this fantastic home!

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: Fairmont Park West

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $83k222k

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

Neighborhood: Fairmont Park West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9081677

* 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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$764
Property Tax -$532
Property Insurance -$131
HOA -$10
Property Management Fees -$99
CASH FLOW
$104

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.

$219,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6404$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 3827 Rosemont Drive La Porte, TX 3
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.07
    •  
  • 9831 Rocky Hollow Road La Porte, TX 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1980
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 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
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 3815 Willmont Road La Porte, TX 4
    • 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1981
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
  • 9751 Clairmont Drive La Porte, TX 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Staci Trahan
1.713.299.1882
Prime Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88981008
Last Updated: 02/10/2021
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