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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southdown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,400
LOAN DETAILS
$729
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $52,500 |
| Loan Amount | $157,500 |
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
-
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
1.832.301.1354
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 77735533
Last Updated: 01/30/2021
