Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9904 Brookview Drive La Porte, TX 77571

3 Beds 2 Baths 1,295 sqft Built 1984

$178,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $138.15
  • 2 Days on Market
  • MLS # : 35191416
  • Updated Date : 11/02/2020 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,295 sqft
  • Baths : 2 full
Listing Agent

Cb & A, Realtors

Listing Agent's Description

Charming single story, three bedroom, two bathroom home with no back neighbors! Laminate wood & tile flooring throughout home. Open kitchen, family room with vaulted ceilings, and fireplace. Large formal dining room, huge backyard, with storage shed and covered patio. New HVAC unit. Great location, only minutes to 225 and Beltway 8. Walking distance to junior high school. Hurry this one won't last! Make your appointment today!

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: Lomax

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $84k222k

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

Neighborhood: Lomax

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
 

$161,010$196,790$178,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$660
Property Tax -$433
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$93

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.

$178,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.3%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,159

INVESTMENT

$53,159

Down Payment
$44,725
Rehab Estimate
$5,750
Closing Costs
$2,684

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,725
Loan Amount $134,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4754$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 9904 Brookview Drive La Porte, TX 2
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 1211 Bayou Glen Drive La Porte, TX 1
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1993
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 9812 Robin Street La Porte, TX 3
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1978
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.13
    •  
  • 1201 Bayou Glen Drive La Porte, TX 4
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1984
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 9908 Thrush Street La Porte, TX 5
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1977
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Angela Hernandez
1.713.384.9618
Cb & A, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35191416
Last Updated: 11/02/2020
BESbswy