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3715 Heather Lane Pearland, TX 77581

3 Beds 3 Baths 1,940 sqft Built 1984

$259,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $133.97
  • 11 Days on Market
  • MLS # : 85291421
  • Updated Date : 01/06/2021 at 00:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,940 sqft
  • Baths : 2 full , 1 half
Listing Agent

White Picket Realty Llc

Listing Agent's Description

Welcome 2021 in this new home in Pearland, TX! This traditional 2 story is fully renovated with new fresh gray tone colors all inside and out! It includes modern wood laminate floors all throughout the first floor, a living area that may be converted into an office, with a large dinning room. The beautiful kitchen has white new cabinets, granite countertops on a open concept onto an oversized gameroom, great for entertainment! There is lots of storage space in the laundry room, including a closet under the stairs. The wooden staircase takes you upstairs to the rest of the privacy of the 2-3 bedrooms and the primary room with it's own primary bathroom. One of the bedrooms has a secret room that can be a guest room or a study area, all covered with a gray tone carpet, blending all the modern colors together. This is a must see! Schedule your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k305k

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

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9422063

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$903
Property Tax -$584
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
$66

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.

$259,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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-$4.0k-$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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,7504$1,8105$1,900
$1,900
RENT COMPS ANALYSIS
  • 3715 Heather Lane Pearland, TX 4
    • 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,940 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.93
    •  
  • 2504 Parkview Pearland, TX 1
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1983
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 3404 Pheasant Lane Pearland, TX 2
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 2304 Colleen Drive Pearland, TX 3
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1983
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1937 Prairie Creek Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1992
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Elda Armenta
1.281.685.1307
White Picket Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 85291421
Last Updated: 01/06/2021
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