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17511 S Pazaree Court Crosby, TX 77532

3 Beds 2 Baths 2,055 sqft Built 1983

$199,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $97.27
  • 3 Days on Market
  • MLS # : 54669610
  • Updated Date : 01/23/2021 at 10:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature

Listing Agent's Description

WELCOME HOME! NEW ROOF ONLY 1 MONTH OLD. NEW HVAC SYSTEM IN DEC. 2018-NEWER WATER HEATER-ALL NEW INTERIOR PAINT-REMODELED KITCHEN AND PRIMARY BATHROOM- NEW 2" BLINDS-NEW HAND-SCRAPED LAMINATE PLANK FLOORING THROUGHOUT THE HOME AND IN THE GAMEROOM UPSTAIRS- NEW DECK IN THE BACKYARD. HOME HAS A LARGE FAMILY ROOM WITH A WOOD BURNING FIRE PLACE. KITCHEN HAS QUARTZITE COUNTERTOPS W/BEADBOARD BACK SPLASH. BOTH GARAGE DOORS ARE NEW-OFFICE WITH A FRENCH SLIDING BARN DOOR CONVENIENTLY LOCATED AT THE FRONT OF THE HOME-SPIRAL STAIRCASE LEADS UP TO BONUS ROOM THAT CAN BE USED AS A GAMEROOM, PLAYROOM OR CONVERTED INTO A 4TH BEDROOM. HOME IS IN A CUL-DE-SAC AND PERFECT FOR KIDS TO PLAY IN SAFETY. LOCATED IN NEWPORT, A GOLF COURSE COMMUNITY W/ 3 PARKS AND HIKE AND BIKE TRAILS, POOL, TENNIS COURTS, BOAT RAMP AND PAVILION ON LAKE HOUSTON, BEACH AND SWIMMING AREA ON SANJACINTO RIVER FITNESS CENTER AND COMMUNITY ROOM.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $89k222k

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

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby Middle School High Regular 809 50 6

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby Middle School

  • Education Level: High
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$694
Property Tax -$478
Property Insurance -$166
HOA -$55
Property Management Fees -$99
CASH FLOW
$98

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.

$199,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.80%

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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5904$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 17511 S Pazaree Court Crosby, TX 3
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.77
    •  
  • 17215 Forelock Way Crosby, TX 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1979
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 17603 Jolly Boat Drive Crosby, TX 2
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 702 Neap Court Crosby, TX 4
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 17310 Morning Star Avenue Crosby, TX 5
    • 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jamie Bechtold
1.936.525.7101
Re/max Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 54669610
Last Updated: 01/23/2021
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