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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $110.88
- 3 Days on Market
- MLS # : 56482322
- Updated Date : 12/12/2020 at 17:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,885 sqft
- Baths : 2 full
Listing Agent
Kj Platinum Properties Llc
Listing Agent's Description
Great one story home in well established neighborhood with wonderful mature trees. Home has open kitchen to breakfast area and family room. The kitchen, complete with an island, stainless steal appliances and high ceilings with sky lite. Beautiful hardwoods in all living spaces. The floor plan is split with the primary bedroom having privacy on one side of home and 2 other bedrooms on the other side. Breakfast area looks out to backyard and covered patio. Home owner had double pained windows installed to keep electric bills low. The owner is leaving all kitchen appliances. This home has had only one owner. NEVER FLOODED.NO MUD TAXES.
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: Pearland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pearland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,720 |
| EXPENSES | Loan Payment | -$771 |
| Property Tax | -$470 | |
| Property Insurance | -$155 | |
| HOA | -$15 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$211
|
||
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.
$209,000
PROJECTED PRICE
$1,720
PROJECTED RENT
0.82%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,135
LOAN DETAILS
$771
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $52,250 |
| Loan Amount | $156,750 |
6.58
YEARS SAVED
$19,108
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,720
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,890
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
3527 Riverside Drive Pearland, TX 2
- 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $1,720
- $0.91
-
1106 Lochmoor Lane Pearland, TX 1
- 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1994
![property image]()
LEASED 12/03/20- Rent
- Rent Per SQFT
- $1,600
- $0.93
-
1103 Lochmoor Lane Pearland, TX 3
- 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1993
![property image]()
LEASED 07/13/20- Rent
- Rent Per SQFT
- $1,750
- $1.03
-
3503 Jamison Oak Drive Pearland, TX 4
- 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 2011
![property image]()
LEASED 09/23/20- Rent
- Rent Per SQFT
- $1,800
- $1.03
-
603 Tanglewood Drive Friendswood, TX 5
- 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 1980
![property image]()
LEASED 09/14/20- Rent
- Rent Per SQFT
- $1,900
- $1.02
PROPERTY LISTING DETAILS
1.832.340.4857
Kj Platinum Properties Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 56482322
Last Updated: 12/12/2020
