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1108 Woodchase Drive Pearland, TX 77581

4 Beds 3 Baths 2,472 sqft Built 1990

$259,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $105.14
  • 75 Days on Market
  • MLS # : 35453859
  • Updated Date : 12/18/2020 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,472 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Entertain your family & friends this holiday season in your new home located at 1108 Woodchase Dr in Sunset Meadows-Nasawood Sub in Pearland. With 2400+SF, this home is turn-key & ready for new memories to be made. Enter into the 2 story foyer which will guide you thru to the main living areas of the home. The open fml LR / DR is enveloped in natural light. The KIT offers lots of counter & cabinet space incl an island w/ storage & boasts a b-fast nook & unobstructed view of the family room w/ FP & built-ins. Head on upstairs where you will find an open space w/ built ins - perfect for a study, an office, playroom, media room, craft room…the possibilities are endless! All 4 BRs are upstairs. The huge primary ensuite has large soaking tub, separate shower & his / her sinks w/ vanity seating. Large fenced backyard is perfect for adults, kids & family pets. Don’t miss you opportunity to make your new memories here. Contact your real estate professional today for your private showing.

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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: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10352063

* 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
Alexander Middle School Primary Regular 691 37 9
Alexander Middle School Middle Regular 691 37 9
Pearland High School High Regular 2,920 177 7

Alexander Middle School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Alexander Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Pearland High School

  • Education Level: High
  • # of students: 2,920
  • # of teachers: 177
7
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$903
Property Tax -$584
Property Insurance -$194
HOA -$30
Property Management Fees -$99
CASH FLOW
$79

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.

$259,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8754$1,8905$1,950
$1,950
RENT COMPS ANALYSIS
  • 1108 Woodchase Drive Pearland, TX 4
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.76
    •  
  • 1012 Chesterwood Drive Pearland, TX 1
    • 5 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 1115 Lake Shore Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 2,366 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,366 Sqft ∙ Built 2000
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 1023 Chesterwood Drive Pearland, TX 3
    • 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 1991
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.76
    •  
  • 1201 Gulfton Pearland, TX 5
    • 3 beds 3 baths ∙ 2,634 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,634 Sqft ∙ Built 1990
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Morad Fiki
1.832.610.4290
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35453859
Last Updated: 12/18/2020
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