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3807 Cann Drive Pasadena, TX 77503

3 Beds 3 Baths 1,632 sqft Built 1994

$195,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $119.49
  • 3 Days on Market
  • MLS # : 17692647
  • Updated Date : 12/11/2020 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Come see this beautiful 3 Bedroom, 2.5 Bath home with 2 Car Garage located on a quite cul-de-sac. You will love the bright family room with laminate flooring open to the kitchen area. The kitchen has upgraded appliances, gray cabinets, granite countertops and new light fixtures. Upstairs you will find a spacious Primary bedroom with a large walk in closet and a very functional primary bathroom with 2 sinks. Two additional bedrooms and 1 full Baths complete the space. NO FLOODING!!! Convenient access to Beltway 8 and 225. Don't wait!!! This home will sell fast!!! Call today for your private tour!!! New siding and paint. New electrical Panel and recent AC are some of the upgrades on this home.

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: Meadow Woods

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Meadow Woods

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
Mcmasters Elementary School Primary Regular 415 29 5
San Jacinto Intermediate School Middle Regular 689 45 6
Sam Rayburn High School High Regular 2,995 180 3

Mcmasters Elementary School

  • Education Level: Primary
  • # of students: 415
  • # of teachers: 29
5
GreatSchools Rating

San Jacinto Intermediate School

  • Education Level: Middle
  • # of students: 689
  • # of teachers: 45
6
GreatSchools Rating

Sam Rayburn High School

  • Education Level: High
  • # of students: 2,995
  • # of teachers: 180
3
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$719
Property Tax -$473
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$121

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.

$195,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,591

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,5504$1,5955$1,750
$1,750
RENT COMPS ANALYSIS
  • 3807 Cann Drive Pasadena, TX 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 4259 Gypsy Pops Drive Pasadena, TX 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 3811 Cann Drive Pasadena, TX 2
    • 3 beds 3 baths ∙ 1,581 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,581 Sqft ∙ Built 1993
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 4015 Dogwood Hill Street Pasadena, TX 4
    • 3 beds 3 baths ∙ 1,453 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,453 Sqft ∙ Built 2005
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 1902 Whitebriar Drive Deer Park, TX 5
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1982
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Monica Foster
1.346.202.7307
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17692647
Last Updated: 12/11/2020
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