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3527 Riverside Drive Pearland, TX 77581

3 Beds 2 Baths 1,885 sqft Built 1994

$209,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
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

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
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
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

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
$1,600
1$1,6002$1,7203$1,7504$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 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
Audra Neumann
1.832.340.4857
Kj Platinum Properties Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56482322
Last Updated: 12/12/2020
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