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3230 Vanity Drive Pearland, TX 77584

4 Beds 3 Baths 2,186 sqft Built 1998

$240,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $109.79
  • 3 Days on Market
  • MLS # : 41840999
  • Updated Date : 12/04/2020 at 15:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,186 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Pearland Home Team

Listing Agent's Description

This beautiful open floor plan home features a formal dining room, large open living room with views to the backyard! The game room is upstairs along with three spacious bedrooms and primary suite down which includes large bath + separate shower, his & her sinks and large walk in closet. It has an expansive back yard with huge covered patio/deck perfect for outdoor dining & entertaining. Located in highly desirable Southwyck Subdivision loaded with amenities and some of the best schools in Pearland ISD! Swimming pools, parks, golf, tennis, shopping and dining are all nearby! Easy Access to 288, Beltway 8, Downtown Houston, and The Texas Medical center.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Sam Jamison Middle School Primary Regular 814 51 9
Sam Jamison Middle School Middle Regular 814 51 9
Glenda Dawson High School High Regular 2,257 130 8

Sam Jamison Middle School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 51
9
GreatSchools Rating

Sam Jamison Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 51
9
GreatSchools Rating

Glenda Dawson High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$886
Property Tax -$540
Property Insurance -$175
HOA -$48
Property Management Fees -$99
CASH FLOW
$103

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.

$240,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.77%

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8504$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 3230 Vanity Drive Pearland, TX 3
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 2922 Russett Place Pearland, TX 1
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1994
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 4834 Elkmont Court Pearland, TX 2
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1997
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 4819 Lochman Lane Pearland, TX 4
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1997
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.85
    •  
  • 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
Maggie Mcfarland
1.832.878.2022
Re/max Pearland Home Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41840999
Last Updated: 12/04/2020
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