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2114 Crestwind Court Pearland, TX 77584

4 Beds 3 Baths 2,356 sqft Built 2005

$249,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $106.07
  • 5 Days on Market
  • MLS # : 88914196
  • Updated Date : 02/05/2021 at 10:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,356 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home to Shadow Creek Ranch! This gorgeous 2 story home boasts 4 bedrooms & 2.5 bathrooms with an open floorplan. High ceilings & natural light as soon as you walk in the door! To your left is formal dining/office space before moving into the spacious kitchen with solid wood cabinets, Corian stone counters, large kitchen island, stainless steel appliances & eat in space. Kitchen is open to living room with fireplace that overlooks the large backyard & is a prime set up for entertaining. Primary bedroom with en-suite bath includes vanity, walk in shower, garden tub and walk-in closet. Upstairs is the oversized loft that could be used for game room, den or study. 3 more bedrooms & 2nd full bathroom complete the second story for over 2300 of living space! Backyard is fully fenced with a covered patio to keep you cool while enjoying the fresh air. Shadow Creek Ranch is near recreation, stores, dining, medical center, and the beltway is just a few minutes away for easy commuting!

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: Shadow Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k329k

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

Neighborhood: Shadow Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722166

* 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
Laura Ingalls Wilder Elementary School Primary Regular 722 43 8
Nolan Ryan Junior High School Middle Regular 1,232 69 8
Manvel High School High Regular 2,813 153 5

Laura Ingalls Wilder Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 43
8
GreatSchools Rating

Nolan Ryan Junior High School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 69
8
GreatSchools Rating

Manvel High School

  • Education Level: High
  • # of students: 2,813
  • # of teachers: 153
5
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$868
Property Tax -$778
Property Insurance -$186
HOA -$83
Property Management Fees -$99
CASH FLOW
$96

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.

$249,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1104$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 2114 Crestwind Court Pearland, TX 3
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.90
    •  
  • 2719 Calico Creek Lane Pearland, TX 1
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2303 Echo Harbor Drive Pearland, TX 2
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2004
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2008 Shore Breeze Drive Pearland, TX 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 2012 Balsam Lake Lane Pearland, TX 5
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2008
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kevin Jones
1.832.835.0664
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88914196
Last Updated: 02/05/2021
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