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

3502 Yellowstone Circle Pearland, TX 77584

3 Beds 2 Baths 1,734 sqft Built 1998

$215,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $123.99
  • 3 Days on Market
  • MLS # : 96426523
  • Updated Date : 11/13/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Re/max Eastside

Listing Agent's Description

Come fall in love with this beautifully updated one story on a quiet cul-de-sac lot. This home features hardwood flooring in the main living areas, an updated stone stack fireplace (2019) in the open living/dining room, and remodeled kitchen complete with stainless steel appliances and granite countertops all replaced in 2017. To help save money, this home also features a new roof (2020), double paned windows, tankless water heater, and Rainsoft Water Softener. Need space for your outdoor tools and equipment? Drive into the gated side driveway with covered parking or use the large shed with electricity.

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: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10352063

* 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
Magnolia Elementary School Primary Regular 808 52 10
Sam Jamison Middle School Middle Regular 814 51 9
Pearland High School High Regular 2,920 177 7

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 52
10
GreatSchools Rating

Sam Jamison Middle School

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

Pearland High School

  • Education Level: High
  • # of students: 2,920
  • # of teachers: 177
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$793
Property Tax -$483
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$170

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.

$215,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.6%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$16,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6904$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 3502 Yellowstone Circle Pearland, TX 3
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.97
    •  
  • 2709 Hot Springs Drive Pearland, TX 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 3604 Whitestone Drive Pearland, TX 2
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1997
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 2922 Veva Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1995
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 4107 Mustang Road Pearland, TX 5
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2001
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Allison Harcourt
1.281.839.7889
Re/max Eastside
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 96426523
Last Updated: 11/13/2020
BESbswy