Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3431 Southdown Drive Pearland, TX 77584

3 Beds 3 Baths 2,233 sqft Built 1986

$210,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $94.04
  • 2 Days on Market
  • MLS # : 77735533
  • Updated Date : 01/30/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,233 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Charming and spacious 3 bedroom, 2 bath, 2 car garage home in Southdown community. Lovely details throughout include covered front porch, vaulted ceilings in your formal living room and connecting formal dining room. Nice sized kitchen with good prep/counter space, ample cabinetry for storage, stainless steel gas range, refrigerator included and breakfast bar. The breakfast room opens to your cozy den with fireplace and powder room for your guests. Upstairs are 3 bedrooms, 2 full bathrooms, a gameroom/bonus area and utility room. Large screened in back porch and no back neighbors for added privacy. House did NOT flood during Harvey. House needs some TLC and would be ideal for a handy-person or investor. Selling As-Is and has been priced accordingly. Subdivision amenities include pool, tennis courts, and park within walking distance. Conveniently located with quick access to Hwy 288. Close to shopping, restaurants and entertainment.

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
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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$729
Property Tax -$472
Property Insurance -$178
HOA -$17
Property Management Fees -$99
CASH FLOW
$374

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.

$210,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.89%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$31,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,865

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8704$1,8805$1,950
$1,950
RENT COMPS ANALYSIS
  • 3431 Southdown Drive Pearland, TX 3
    • 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.84
    •  
  • 3310 Cotswald Trail Pearland, TX 1
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 1023 E Hampton Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,261 Sqft ∙ Built 1996
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 1011 Bristol Way Pearland, TX 4
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2000
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.87
    •  
  • 3623 Chatwood Drive Pearland, TX 5
    • 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 1998
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Esanet Benedict
1.832.301.1354
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77735533
Last Updated: 01/30/2021
BESbswy