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4126 Fairhope Oak Street Pasadena, TX 77503

3 Beds 3 Baths 1,823 sqft Built 2005

$204,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $112.40
  • 4 Days on Market
  • MLS # : 98970155
  • Updated Date : 12/31/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,823 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

Don't miss this two story home in Deer Creek! NEW ROOF! This home has been refreshed with new interior paint, new laminate flooring, and new carpet. Off the entry are a home office and a spacious living/great room. The eat in kitchen features ample cabinet and counter space, a breakfast bar, and appliances including a new microwave. Half bathroom on the main floor for guests' convenience. All bedrooms, full bathrooms, the laundry and a media room located on the second floor. The primary ensuite bathroom has a soaking tub and large walk in closet. The backyard has a covered patio and no neighbors behind for added privacy. Gorilla garage storage system and workbench. Vacant and ready for viewing, come see!

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: 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
Carpenter Elementary School Primary Regular 814 53 7
Bonnette Junior High School Middle Regular 775 47 5
Deer Park High School South Campus High Regular 4,103 258 6

Carpenter Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 53
7
GreatSchools Rating

Bonnette Junior High School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 47
5
GreatSchools Rating

Deer Park High School South Campus

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

$184,410$225,390$204,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$756
Property Tax -$497
Property Insurance -$150
HOA -$35
Property Management Fees -$99
CASH FLOW
$152

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.

$204,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.6%
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$12k

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$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$15,774

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6504$1,6505$1,690
$1,690
RENT COMPS ANALYSIS
  • 4126 Fairhope Oak Street Pasadena, TX 5
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.93
    •  
  • 4050 Dogwood Hill Street Pasadena, TX 1
    • 4 beds 3 baths ∙ 1,674 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,674 Sqft ∙ Built 2006
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 6403 Dawson Creek Drive Pasadena, TX 2
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2006
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 6531 Stoney Creek Drive Pasadena, TX 3
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2015
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 4019 Dogwood Hill Street Pasadena, TX 4
    • 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2005
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert Jones
1.281.957.8192
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98970155
Last Updated: 12/31/2020
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