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2717 Village Mills Drive Pearland, TX 77584

4 Beds 3 Baths 1,946 sqft Built 1986

$239,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $123.28
  • 4 Days on Market
  • MLS # : 62533829
  • Updated Date : 03/12/2021 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,946 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful 4 bedroom 2.5 bath home in Willowick. The home features a 2 car garage, nicely updated with all the must haves remodeled kitchen with soft close drawers, quartz counters, stainless appliances, farmhouse sink, wood look tile in main living area with an open concept floorplan, perfect for entertaining. Four spacious bedrooms, all on the 2nd floor with beautiful hard surface flooring. The primary suite boasts an en-suite bath with dual vanities, walk-in shower and shiplap feature wall. Freshly painted interior with lots of natural light this Smart home features a ring-doorbell and Nest thermostat. Exterior trim was recently painted and gutters added with leaf covers, beautiful mature trees that offer cooling shade all summer. Spacious fenced backyard with lots of room for entertaining. Low tax rate & great location in Central Pearland with great schools! A must-see won't last long!

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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: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10352063

* 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
C.j. Harris Elementary School Primary Regular 731 41 7
Pearland Jr High East Middle Regular 674 38 9
Pearland High School High Regular 2,920 177 7

C.j. Harris Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 41
7
GreatSchools Rating

Pearland Jr High East

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 38
9
GreatSchools Rating

Pearland High School

  • Education Level: High
  • # of students: 2,920
  • # of teachers: 177
7
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$833
Property Tax -$539
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$160

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.

$239,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.6%
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

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7904$1,7995$1,800
$1,800
RENT COMPS ANALYSIS
  • 2717 Village Mills Drive Pearland, TX 3
    • 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.92
    •  
  • 4614 Brazos Bend Drive Pearland, TX 1
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2004
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 4608 Sebastopol Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 3105 Centennial Village Drive Pearland, TX 4
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.87
    •  
  • 4911 Campbell Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1996
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Helen Hairston
1.832.875.9626
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62533829
Last Updated: 03/12/2021
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