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4002 Ashwood Drive Pearland, TX 77584

5 Beds 4 Baths 2,586 sqft Built 1990

$270,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $104.41
  • 4 Days on Market
  • MLS # : 80978166
  • Updated Date : 12/24/2020 at 13:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,586 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Space Center

Listing Agent's Description

Updated home in the Westwood Village neighborhood. This home features a beautifully updated kitchen as well as a handicap accessible addition of a bedroom and bath down stairs. Primary bedroom is upstairs as well as 3 additional bedrooms.

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: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Pearland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10352063

* 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
Magnolia Elementary School Primary Regular 808 52 10
Sam Jamison Middle School Middle Regular 814 51 9
Pearland High School High Regular 2,920 177 7

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 52
10
GreatSchools Rating

Sam Jamison Middle School

  • Education Level: Middle
  • # of students: 814
  • # of teachers: 51
9
GreatSchools Rating

Pearland High School

  • Education Level: High
  • # of students: 2,920
  • # of teachers: 177
7
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$996
Property Tax -$607
Property Insurance -$202
HOA -$8
Property Management Fees -$99
CASH FLOW
$188

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.

$270,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1003$2,1004$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 4002 Ashwood Drive Pearland, TX 3
    • 5 beds 4 baths ∙ 2,586 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,586 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4011 Dogwood Drive Pearland, TX 1
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1992
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 3607 Canterbury Park Drive Pearland, TX 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2005
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 4704 Lakefront Terrace Drive Pearland, TX 4
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2006
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 4806 Lakefront Terrace Court Pearland, TX 5
    • 4 beds 4 baths ∙ 2,752 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,752 Sqft ∙ Built 2005
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lindsay Rose
1.832.421.8969
Re/max Space Center
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80978166
Last Updated: 12/24/2020
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