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2814 J R Drive Manvel, TX 77578

3 Beds 4 Baths 2,538 sqft Built 2010

$290,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $114.26
  • 2 Days on Market
  • MLS # : 82130468
  • Updated Date : 03/06/2021 at 23:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,538 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty Associates

Listing Agent's Description

The home is located in the highly sought after Southfork Neighborhood. This 1 story home features 3 bedrooms, 3 bathrooms, and 2 car garage and a bonus/flex room currently being used as a game room. Would make another bedroom or a great office. Built by Cervelle Homes. Southfork includes stocked lakes, walking trail with Gazebo, and 25 yard pool. Pearland Town center mall is nearby. Quick access to 288.

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: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722208

* 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
Dr. James Red Duke Elementary School Primary Unknown NA
Dr. Ronald E Mcnair Junior High Middle Unknown NA
Manvel High School High Regular 2,813 153 5

Dr. James Red Duke Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Dr. Ronald E Mcnair Junior High

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Manvel High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,007
Property Tax -$598
Property Insurance -$199
HOA -$42
Property Management Fees -$99
CASH FLOW
$6

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.

$290,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9803$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2814 J R Drive Manvel, TX 1
    • 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2010 3 beds 4 baths ∙ 2,538 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 11104 Briscoe Lane Pearland, TX 2
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2004
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.79
    •  
  • 11410 Freestone Avenue Pearland, TX 3
    • 3 beds 2 baths ∙ 2,552 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,552 Sqft ∙ Built 2008
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 2519 Saddlebred Lane Manvel, TX 4
    • 3 beds 3 baths ∙ 2,552 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,552 Sqft ∙ Built 2010
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 3038 Texas Trail Lane Manvel, TX 5
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2006
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Deana Baggett
1.713.882.2588
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82130468
Last Updated: 03/06/2021
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