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15635 Pagehurst Drive Houston, TX 77084

4 Beds 2 Baths 1,925 sqft Built 1980

$227,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $117.92
  • 7 Days on Market
  • MLS # : 32679291
  • Updated Date : 02/08/2021 at 18:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,925 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

4 bedrooms house with 2 full baths and formal dining in move-in ready condition. The whole house was renovated about 3 years ago with new paint, granite countertop, double pane window (for low electricity bills). There's no carpet in the house; the house has tiles everywhere. The seller also renovated the two bathrooms, purchased a new hot water heater, new light fixtures, toilets, and the roof is about 2 years old. The stainless fridge comes with the house.

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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: Bear Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $97k222k

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

Neighborhood: Bear Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Bear Creek Elementary School Primary Regular 751 58 4
Cardiff Junior High School Middle Regular 963 78 6
Mayde Creek High School High Regular 2,755 158 7

Bear Creek Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 58
4
GreatSchools Rating

Cardiff Junior High School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
6
GreatSchools Rating

Mayde Creek High School

  • Education Level: High
  • # of students: 2,755
  • # of teachers: 158
7
GreatSchools Rating
 

$204,300$249,700$227,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$788
Property Tax -$461
Property Insurance -$157
HOA -$38
Property Management Fees -$99
CASH FLOW
$146

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.

$227,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$65,905

INVESTMENT

$65,905

Down Payment
$56,750
Rehab Estimate
$5,750
Closing Costs
$3,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$788

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,750
Loan Amount $170,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$12,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6905$1,700
$1,700
RENT COMPS ANALYSIS
  • 15635 Pagehurst Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.88
    •  
  • 5234 Pine Cliff Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,810 Sqft ∙ Built 1983
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 15715 Pagehurst Drive Houston, TX 2
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1980
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 15642 Pagehurst Drive Houston, TX 3
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1980
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 15647 Pagehurst Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1980
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kelvin Okunonke
1.281.685.9326
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32679291
Last Updated: 02/08/2021
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