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3506 Pine Chase Drive Pearland, TX 77581

5 Beds 3 Baths 2,774 sqft Built 1995

$320,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $115.36
  • 4 Days on Market
  • MLS # : 2304318
  • Updated Date : 11/21/2020 at 14:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,774 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful spacious 5 bedroom, 3 bath home features high ceilings formal living, dining room, large open kitchen with stainless appliances master suite upstairs very spacious with large bathroom with stand up shower and jetted tub. Dual staircase, laminate wood floors in entry & formals. Downstairs bedroom can be used as second master. 3 car garage with no back neighbors.

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: Pine Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Pine Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722242

* 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
Alexander Middle School Primary Regular 691 37 9
Alexander Middle School Middle Regular 691 37 9
Pearland High School High Regular 2,920 177 7

Alexander Middle School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Alexander Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Pearland High School

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

$288,000$352,000$320,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,181
Property Tax -$719
Property Insurance -$215
HOA -$25
Property Management Fees -$99
CASH FLOW
$201

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.

$320,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$19,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2003$2,3504$2,4005$2,440
$2,440
RENT COMPS ANALYSIS
  • 3506 Pine Chase Drive Pearland, TX 5
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.88
    •  
  • 1212 Pine Moss Court Pearland, TX 1
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2000
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 1111 Sunset Lakes Drive Pearland, TX 2
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 1999
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 1512 Pine Grove Lane Pearland, TX 3
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 1996
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 2505 Evergreen Drive Pearland, TX 4
    • 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,849 Sqft ∙ Built 1996
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Joyce Tolliver
1.281.642.5612
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 2304318
Last Updated: 11/21/2020
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