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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $105.60
- 6 Days on Market
- MLS # : 55305804
- Updated Date : 01/28/2021 at 21:48
CONSTRUCTION
- Beds : 3
- Floor Size : 2,320 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Hou Preferred
Listing Agent's Description
Welcome home to this charming 2 story, 3 bed, 2 and a half bathroom home perfectly located in Pearland with quick access to HWY 288 from Magnolia Rd/Southfork Dr. You will love the wood tile flooring throughout the entire first floor. This Southwyck home has a great layout with primary bedroom downstairs, a formal living room and formal dining room in the front of the house and a spacious second living area towards the back separated by the kitchen and breakfast area. Upstairs you will find the remaining two bedrooms, second full bathroom and a large game room that overlooks the Living area. This home has a new roof that offers peace of mind on a costly expense for any buyer and a great size home for the price especially in today's market. The backyard offers an ideal set-up for entertaining with a wooden deck you can enjoy friends and family with and ready for you to restore to your liking. Zoned to Pearland ISD and a low tax rate neighborhood, schedule your showing today!
SEE MORE
- 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: Southwyck
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southwyck
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$851 |
| Property Tax | -$551 | |
| Property Insurance | -$184 | |
| HOA | -$48 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$197
|
||
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.
$245,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.79%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$70,675
LOAN DETAILS
$851
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $61,250 |
| Loan Amount | $183,750 |
5.5
YEARS SAVED
$14,432
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,937
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
2907 Avanti Drive Pearland, TX 3
- 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,930
- $0.83
-
4507 Russett Place Pearland, TX 1
- 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 1992
LEASED 07/24/20- Rent
- Rent Per SQFT
- $1,700
- $0.77
-
3223 Forrester Drive Pearland, TX 2
- 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1999
LEASED 07/19/20- Rent
- Rent Per SQFT
- $1,925
- $0.81
-
3222 Bodine Drive Pearland, TX 4
- 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1999
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,950
- $0.90
-
3107 S Webber Court Pearland, TX 5
- 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,325 Sqft ∙ Built 1995
LEASED 05/26/20- Rent
- Rent Per SQFT
- $2,000
- $0.86
PROPERTY LISTING DETAILS
1.832.971.0170
Keller Williams Hou Preferred
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 55305804
Last Updated: 01/28/2021
