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430 Bay Grove Lane La Porte, TX 77571

4 Beds 3 Baths 2,818 sqft Built 2016

INVESTimate

$315,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$338,247  ( +7.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $111.78
  • 5 Days on Market
  • MLS # : 86809295
  • Updated Date : 08/23/2020 at 11:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,818 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Find your new home in this charming 2 story property! Located just minutes from Sylvan Beach, major highways and Kemah! Zoned to La Porte ISD! This elegant Beazer home offers 4 bedrooms, 2 and a half bathrooms, in addition to a large media room and a delightful study/library with double doors. Enjoy the high ceilings in a spacious family room that can make the perfect space to entertain your family and friends. Open floor concept graciously connects the contemporary kitchen, family room and breakfast area in a seamless yet tasteful way. Come visit today and fall in love: your home awaits!

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
Lomax Elementary School Primary Regular 541 29 9
Lomax Junior High School Middle Regular 626 37 7
La Porte High School High Regular 2,119 134 5

Lomax Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 29
9
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,162
Property Tax -$762
Property Insurance -$218
HOA -$67
Property Management Fees -$99
CASH FLOW
$132

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.

$315,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.38%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$13,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,621

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,440
$2,440
RENT COMPS ANALYSIS
  • 430 Bay Grove Lane La Porte, TX 2
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.87
    •  
  • 11013 Birch Drive La Porte, TX 1
    • 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 2000
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Maria Diaz Diaz
1.832.537.5633
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 86809295
Last Updated: 08/23/2020
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