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2909 Morning Brook Way Pearland, TX 77584

3 Beds 3 Baths 2,245 sqft Built 2005

$265,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $118.04
  • 13 Days on Market
  • MLS # : 74971483
  • Updated Date : 02/09/2021 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,245 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Hello & Welcome Home! You have found the perfect home nestled in the heart of Shadow Creek Ranch located in a master planned community with lakes, parks, pools, recreation centers, and miles of hike & bike trails.! This 3 bedroom 2.5 bedroom brick home has an open-concept floorplan with new updated floors throughout the first floor and garage. Spacious kitchen with a breakfast nook that provides lots of seating for entertainment. This home provides a nice size primary suite with double sink and oversized garden tub with a stand alone shower, and walk-in closet. All bedrooms are spacious with walk in closets located downstairs. This beautiful home has an oversized entertainment room upstairs ready for game night and/or movie night. The large backyard has fresh lemon trees and is waiting for you to enjoy barbecues and picnics with family and friends. THIS HOUSE WILL GO FAST! Call to set your appointment 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: 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
Dr. James Red Duke Elementary School Primary Unknown NA
Nolan Ryan Junior High School Middle Regular 1,232 69 8
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

Nolan Ryan Junior High School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 69
8
GreatSchools Rating

Manvel High School

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

$238,500$291,500$265,000

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 -$920
Property Tax -$596
Property Insurance -$179
HOA -$83
Property Management Fees -$99
CASH FLOW
$53

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.

$265,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.73%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,295

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
  • $0.86

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9303$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2909 Morning Brook Way Pearland, TX 2
    • 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 2919 Morning Brook Way Pearland, TX 1
    • 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 2611 Easton Springs Court Pearland, TX 3
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 11401 Easton Springs Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 11402 Shoal Creek Drive Pearland, TX 5
    • 3 beds 3 baths ∙ 2,435 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,435 Sqft ∙ Built 2004
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Yolanda Williams
1.832.654.0804
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 74971483
Last Updated: 02/09/2021
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