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4004 Lee Lane Pearland, TX 77584

4 Beds 3 Baths 2,065 sqft Built 1990

$237,700

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $115.11
  • 2 Days on Market
  • MLS # : 84839714
  • Updated Date : 11/07/2020 at 18:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,065 sqft
  • Baths : 2 full , 1 half
Listing Agent

Utr Texas, Realtors

Listing Agent's Description

Photos coming soon! Welcome home this stately home located in the heart of Pearland is sure to please! Beautiful vinyl plank flooring throughout living area & kitchen. Gorgeous tile in bathrooms. Custom cabinets in the kitchen, all new appliances, granite counters, under-mount sink are just a few of the amazing features the seller did to get this home ready for you. Extra large family room & formal dining give you plenty of room for entertaining friends & family. New carpet in the bedrooms. Modern color scheme makes this home welcoming & comfortable. Master suite & master bath are just what you want to come home to. Custom tile work in the shower & bath along with a beautiful double vanity makes you feel like you are in a spa. Large walk-in closet finishes off the master suite. The remaining 3 bedrooms share an amazing bath with custom tile and double vanity as well. Ceiling fans in all rooms, recessed lighting are just a few of the things this home has to offer. Call today to see it!

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
 

$213,930$261,470$237,700

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$877
Property Tax -$534
Property Insurance -$167
HOA -$13
Property Management Fees -$99
CASH FLOW
$70

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.

$237,700

PROJECTED PRICE

$1,760

PROJECTED RENT

0.74%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$68,741

INVESTMENT

$68,741

Down Payment
$59,425
Rehab Estimate
$5,750
Closing Costs
$3,566

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$877

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,425
Loan Amount $178,275
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7604$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 4004 Lee Lane Pearland, TX 3
    • 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.85
    •  
  • 4203 Seminole Drive Pearland, TX 1
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2002
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 3913 Spring Arbor Court Pearland, TX 2
    • 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1987
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 4010 Spring Branch Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1991
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 3908 Spring Circle Dr Pearland, TX 5
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1994
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lillian Ballard
1.281.543.8640
Utr Texas, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84839714
Last Updated: 11/07/2020
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