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9751 Barmont Drive La Porte, TX 77571

3 Beds 2 Baths 1,643 sqft Built 1981

$219,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $133.84
  • 6 Days on Market
  • MLS # : 90264602
  • Updated Date : 01/12/2021 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

Re/max 5 Star Realty

Listing Agent's Description

Fully updated home on corner lot! Brand new roof, granite countertops throughout, fresh paint, new flooring, and much much more. Call to schedule a showing today!

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: 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
Lomax Junior High School Middle Regular 626 37 7
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

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
 

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

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$764
Property Tax -$532
Property Insurance -$138
HOA -$10
Property Management Fees -$99
CASH FLOW
$117

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

$1,660

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$800k

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

4.5

YEARS SAVED

$9,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,684

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6604$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 9751 Barmont Drive La Porte, TX 3
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.01
    •  
  • 10027 Stonemont Road La Porte, TX 1
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1977
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 10015 Willmont Road La Porte, TX 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1978
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 9723 Shell Rock Road La Porte, TX 4
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1980
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 10102 Stonemont Road La Porte, TX 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
PROPERTY LISTING DETAILS
Blake Baker
1.832.289.2176
Re/max 5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90264602
Last Updated: 01/12/2021
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