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3530 Kennedy Drive Pearland, TX 77584

3 Beds 2 Baths 2,093 sqft Built 1999

$220,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $105.11
  • 5 Days on Market
  • MLS # : 87231469
  • Updated Date : 03/13/2021 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,093 sqft
  • Baths : 2 full
Listing Agent

Shaw Real Estate

Listing Agent's Description

HIGHEST AND BEST OFFER. "AS IS". This home is a charming 3 bedroom 2 full baths, with an open concept floor plan with many great features, including granite countertops, fireplace, and natural lighting that views backyard. MUST SEE!! Located in the heart of Pearland with access to Southwyck Golf Club, shopping centers, restaurants, and minutes from 288. School zoned for Pearland ISD.

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: Silverlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k313k

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

Neighborhood: Silverlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Massey Ranch Elementary School Primary Regular 721 42 7
Pearland Jr High South Middle Regular 802 50 8
Glenda Dawson High School High Regular 2,257 130 8

Massey Ranch Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 42
7
GreatSchools Rating

Pearland Jr High South

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 50
8
GreatSchools Rating

Glenda Dawson High School

  • Education Level: High
  • # of students: 2,257
  • # of teachers: 130
8
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$764
Property Tax -$524
Property Insurance -$169
HOA -$52
Property Management Fees -$99
CASH FLOW
$312

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.

$220,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$23,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9204$1,9255$1,950
$1,950
RENT COMPS ANALYSIS
  • 3530 Kennedy Drive Pearland, TX 3
    • 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.92
    •  
  • 3810 Paigewood Drive Pearland, TX 1
    • 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 1998
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 3519 Deerbrook Court Pearland, TX 2
    • 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1999
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 3622 Englewood Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1999
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.94
    •  
  • 3606 Matilde Court Pearland, TX 5
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1999
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jason Shaw
1.281.546.9237
Shaw Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 87231469
Last Updated: 03/13/2021
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