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2907 Avanti Drive Pearland, TX 77584

3 Beds 3 Baths 2,320 sqft Built 1985

$245,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
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

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: Southwyck

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Southwyck

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10382063

* 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
Silverlake Elementary School Primary Regular 718 44 9
Berry Miller Jr High School Middle Regular 961 52 9
Glenda Dawson High School High Regular 2,257 130 8

Silverlake Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 44
9
GreatSchools Rating

Berry Miller Jr High School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 52
9
GreatSchools Rating

Glenda Dawson High School

  • Education Level: High
  • # of students: 2,257
  • # of teachers: 130
8
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

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
$1,700
1$1,7002$1,9253$1,9304$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 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
Matthew Renteria
1.832.971.0170
Keller Williams Hou Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55305804
Last Updated: 01/28/2021
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