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1205 Gulfton Drive Pearland, TX 77581

3 Beds 2 Baths 1,671 sqft Built 1990

$237,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $141.83
  • 4 Days on Market
  • MLS # : 62447131
  • Updated Date : 02/13/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,671 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Hou Preferred

Listing Agent's Description

As pristine and immaculate as possible is this adorable hard-to-find one story in Sunset Meadows-Nasawood. Well maintained and cared for, this home has undergone a recent kitchen renovation. Beautiful pergola area makes the yard an oasis. Storage building included. Owner replaced A/C in 2016, heater in 2014 with bi-annual HVAC maintenance. Water heater replaced in 2013. Informal foundation inspection found home to be sound, mold inspection of the A/C found system to be extremely clean and mold free. Garage has built in workbench and overhead shelving. New gutters 2020, roof replaced 2012, flooring replaced 2015. Refrigerator stays with home. 2020 Kitchen remodel included granite countertop and tile backsplash, gel stain poly protect on all cabinetry, replaced gas stove/oven, stainless steel deep basin sink, ultra quiet disposal. Dishwasher replaced in 2018, ultra quiet.

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: 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
Rustic Oak Elementary School Primary Regular 559 33 8
Pearland Jr High East Middle Regular 674 38 9
Pearland High School High Regular 2,920 177 7

Rustic Oak Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 33
8
GreatSchools Rating

Pearland Jr High East

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 38
9
GreatSchools Rating

Pearland High School

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

$213,300$260,700$237,000

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 -$823
Property Tax -$533
Property Insurance -$140
HOA -$30
Property Management Fees -$99
CASH FLOW
$35

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.

$237,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.70%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$4,829

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
  • $0.99

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6603$1,7254$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1205 Gulfton Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.99
    •  
  • 209 Dover Lane Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1970
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 1103 Merribrook Lane Pearland, TX 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1993
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.02
    •  
  • 1103 Lochmoor Lane Pearland, TX 4
    • 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1993
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 4004 Blue Heron Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1991
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
PROPERTY LISTING DETAILS
Teresa Bitner
1.832.340.0185
Keller Williams Hou Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62447131
Last Updated: 02/13/2021
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