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2604 Longlake Drive Pearland, TX 77584

4 Beds 4 Baths 2,872 sqft Built 2015

$330,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $114.90
  • 3 Days on Market
  • MLS # : 4352299
  • Updated Date : 02/27/2021 at 22:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,872 sqft
  • Baths : 3 full , 1 half
Listing Agent

Blackburn Properties

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: 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
Blue Ridge Elementary School Primary Regular 628 45 3
Mcauliffe Middle School Middle Regular 885 58 2
Willowridge High School High Regular 1,280 85 2

Blue Ridge Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 45
3
GreatSchools Rating

Mcauliffe Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 58
2
GreatSchools Rating

Willowridge High School

  • Education Level: High
  • # of students: 1,280
  • # of teachers: 85
2
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,146
Property Tax -$919
Property Insurance -$193
HOA -$75
Property Management Fees -$99
CASH FLOW
$119

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.

$330,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.77%

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$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,592

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5503$2,6004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2604 Longlake Drive Pearland, TX 2
    • 4 beds 4 baths ∙ 2,872 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,872 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.89
    •  
  • 13620 Evening Wind Drive Pearland, TX 1
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2009
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 13612 Orchard Wind Lane Pearland, TX 3
    • 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2008
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 2513 Mountain Sage Drive Pearland, TX 4
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.96
    •  
  • 2511 Mountain Sage Drive Pearland, TX 5
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2014
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
John Blackburn
1.512.431.8428
Blackburn Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 4352299
Last Updated: 02/27/2021
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