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3023 S Peach Hollow Circle Pearland, TX 77584

3 Beds 2 Baths 1,647 sqft Built 1982

$199,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $121.37
  • 7 Days on Market
  • MLS # : 78143487
  • Updated Date : 02/03/2021 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,647 sqft
  • Baths : 2 full
Listing Agent

Circa Real Estate

Listing Agent's Description

This beautiful 55+ community offers great amenities & is approximately 20 mins drive to downtown and the Medical Center. Offering 3 beds & 2 baths allows for ample space for guests & hobbies. Large living room with Cathedral ceiling, gas fireplace, and access to the wet bar. The lovely screened in sun-room overlooks the golf course! This active community offers amenities such as: an Olympic size pool & hot tub, lighted tennis courts, golf course with a very social clubhouse, fishing, travel club, and much more! This home is a retirees dream and you don’t want to miss it!

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: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10712063

* 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
Challenger Elementary School Primary Regular 660 39 6
Berry Miller Jr High School Middle Regular 961 52 9
Glenda Dawson High School High Regular 2,257 130 8

Challenger Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 39
6
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$694
Property Tax -$449
Property Insurance -$139
HOA -$165
Property Management Fees -$99
CASH FLOW
$74

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.

$199,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.6%
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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$4,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5754$1,6205$1,800
$1,800
RENT COMPS ANALYSIS
  • 3023 S Peach Hollow Circle Pearland, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.98
    •  
  • 3023 Becket Street Pearland, TX 1
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1983
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 1047 Margate Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 1055 Margate Drive Pearland, TX 3
    • 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
  • 1046 Margate Drive Pearland, TX 5
    • 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,628 Sqft ∙ Built 1984
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Diana Dao
1.281.839.9335
Circa Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 78143487
Last Updated: 02/03/2021
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