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3530 Pickwick Park Drive Kingwood, TX 77339

4 Beds 3 Baths 1,991 sqft Built 1987

$220,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $110.50
  • 3 Days on Market
  • MLS # : 70476929
  • Updated Date : 03/06/2021 at 22:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,991 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum Service Realty

Listing Agent's Description

NO FLOODING EVER! Hard to find 4-bedroom 1 story! Great quiet location and curb appeal, plus wonderful neighbors that have block parties. Beautiful home with recent updates, including granite in the kitchen and hall bath, faucets, lighting, flooring, and stainless steel appliances. All of the living areas have large rooms. The room listed as the study was once used as a formal dining room and is now being used as a sitting area - very versatile plan - The primary bedroom has high ceilings, no carpet, and is separate from the other 3 bedrooms for privacy. The master bath has a nice shower and jetted tub - plus a nice walk-in closet. The den is huge and features a tall fireplace that extends to the cathedral ceiling. The owners love the space for entertaining. And, there is a large kitchen & breakfast room. The cabinets are light and the double stainless sinks are deep and a GAS range. This one will be gone soon! Hurry

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: Elm Grove Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Elm Grove Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10692063

* 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
Elm Grove Elementary School Primary Regular 488 35 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Elm Grove Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 35
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

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

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 -$764
Property Tax -$523
Property Insurance -$162
HOA -$34
Property Management Fees -$99
CASH FLOW
$109

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

$1,690

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
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

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$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 55% 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

4.08

YEARS SAVED

$7,938

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
  • $0.85

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7253$1,7504$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 3530 Pickwick Park Drive Kingwood, TX 1
    • 4 beds 3 baths ∙ 1,991 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,991 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.85
    •  
  • 3210 This Way Humble, TX 2
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2003
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
  • 5443 Garden Village Drive Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1986
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 5726 Straight Way Houston, TX 4
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 2003
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 3307 Appalachian Trail Houston, TX 5
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1991
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mary Beth Hughes
1.832.721.5000
Platinum Service Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 70476929
Last Updated: 03/06/2021
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