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3614 Andrea Sophia Lane Pasadena, TX 77505

4 Beds 2 Baths 1,967 sqft Built 2000

INVESTimate

$249,900

List Price

$1,870

$1,683 - $2,057

Rent Est.

$271,341  ( +8.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $127.05
  • 2 Days on Market
  • MLS # : 26739724
  • Updated Date : 08/25/2020 at 16:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,967 sqft
  • Baths : 2 full
Listing Agent

Discover Houston Realty

Listing Agent's Description

This beautiful one story Pasadena home sits in a quiet cul-de-sac on a corner lot. The original owners have taken great care of this home and the pride of ownership shows. Upon entry you are greeted by high ceilings with tile flooring in the formal dining and formal living rooms. The beautiful tile flooring continues into the large family family room and looks onto the breakfast area/kitchen and is perfect for entertaining. Granite countertops, extra large cabinets, and a gas range stove complete this cozy and quaint kitchen. The master bedroom is tucked in the back of the home and gives privacy away from the other 3 bedrooms. Check out the large backyard with a huge patio that is ready for those summer BBQ's!!! This home is conveniently located to Fairmont Parkway, Beltway 8, I-45 and is zoned to Deer Park ISD. Call and make your appointment to see this one today.

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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: Pasadena

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Pasadena

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8731677

* 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
Fairmont Elementary School Primary Regular 809 48 9
Fairmont Junior High School Middle Regular 759 45 8
Deer Park High School South Campus High Regular 4,103 258 6

Fairmont Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 48
9
GreatSchools Rating

Fairmont Junior High School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 45
8
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$922
Property Tax -$606
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
$83

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.58%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8504$1,8705$2,000
$2,000
RENT COMPS ANALYSIS
  • 3614 Andrea Sophia Lane Pasadena, TX 4
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.95
    •  
  • 3615 Raindrops Road Pasadena, TX 1
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1981
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 4311 Winterborne Drive Pasadena, TX 2
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1986
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 6514 Coldstream Drive Pasadena, TX 3
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1985
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 4223 Maple Cross Drive Pasadena, TX 5
    • 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 1982
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Angela Ojeda
1.713.478.0021
Discover Houston Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26739724
Last Updated: 08/25/2020
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