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1810 Barretts Glen Drive Pearland, TX 77581

4 Beds 2 Baths 1,870 sqft Built 1997

INVESTimate

$237,900

List Price

$1,820

$1,638 - $2,002

Rent Est.

$254,268  ( +6.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $127.22
  • 5 Days on Market
  • MLS # : 43357237
  • Updated Date : 08/22/2020 at 20:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,870 sqft
  • Baths : 2 full
Listing Agent

Prime Texas Properties

Listing Agent's Description

Charming well maintained traditional brick home in the quiet neighborhood of Oakbrook Estates. Home zoned in Pearland ISD! Home is open concept and features 4 spacious bedrooms, 2 bath, high ceilings, fireplace, plantation shutters, tile throughout and carpet in bedrooms. Original owner. Never flooded. Priced to sell!

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: Oakbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Oakbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
 

$214,110$261,690$237,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$878
Property Tax -$535
Property Insurance -$154
HOA -$22
Property Management Fees -$99
CASH FLOW
$133

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.

$237,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.88%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,794

INVESTMENT

$68,794

Down Payment
$59,475
Rehab Estimate
$5,750
Closing Costs
$3,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,475
Loan Amount $178,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8203$1,8954$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 1810 Barretts Glen Drive Pearland, TX 2
    • 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.97
    •  
  • 3503 Pheasant Lane Pearland, TX 1
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.00
    •  
  • 2305 Parkview Drive Pearland, TX 3
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1983
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
  • 1923 Oak Top Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2010
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 1825 Branch Hill Drive Pearland, TX 5
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cecilia Gonzalez
1.832.830.5022
Prime Texas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 43357237
Last Updated: 08/22/2020
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