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3007 Becket Street Pearland, TX 77584

3 Beds 2 Baths 1,325 sqft Built 1983

$195,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $147.17
  • 3 Days on Market
  • MLS # : 31277815
  • Updated Date : 11/06/2020 at 23:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

You will love this quaint 1-story, 3 bedroom, 2 bath plus garage turned into an extra room. It's ready for you to call home. This home features laminate flooring throughout, wood burning fireplace provides comfort in this spacious living room, sunroom lines the back of the home overlooking your own private pool. New windows with UV screens throughout home, New 4 Ton AC unit. Step outside into your private pool ready for fun and entertainment. Home is located near stores, minutes from Pearland Town Center, Downtown Houston and medical center. Buyer to independently verify all property details.

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: Southdown

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Southdown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10062063

* 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
Rogers Middle School Primary Regular 889 49 9
Berry Miller Jr High School Middle Regular 961 52 9
Glenda Dawson High School High Regular 2,257 130 8

Rogers Middle School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 49
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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$719
Property Tax -$438
Property Insurance -$117
HOA -$21
Property Management Fees -$99
CASH FLOW
$86

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.

$195,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5494$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3007 Becket Street Pearland, TX 1
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.12
    •  
  • 2610 S Belgravia Drive Pearland, TX 2
    • 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1982
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 3022 Sherborne Street Pearland, TX 3
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 1983
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.14
    •  
  • 1122 E Brompton Drive Pearland, TX 4
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 1982
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 1126 W Belgravia Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1982
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jimmie Jefferson
1.832.689.5821
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31277815
Last Updated: 11/06/2020
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