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4331 Morris Court Pearland, TX 77584

3 Beds 2 Baths 1,484 sqft Built 1986

$215,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $144.88
  • 5 Days on Market
  • MLS # : 52158021
  • Updated Date : 03/20/2021 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full
Listing Agent

Century 21 Olympian Galleria

Listing Agent's Description

Look no further! This well maintained home is ready for its new family. Located in the highly sought after golf course community of Southwyck, you will have access to community areas, pools, sporting facilities and much more. This home features a large backyard, wood burning fireplace, attached primary bath, and a bonus room in the garage! Call for details.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southwyck

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Southwyck

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10382063

* 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
Silverlake Elementary School Primary Regular 718 44 9
Berry Miller Jr High School Middle Regular 961 52 9
Glenda Dawson High School High Regular 2,257 130 8

Silverlake Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 44
9
GreatSchools Rating

Berry Miller Jr High School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 52
9
GreatSchools Rating

Glenda Dawson High School

  • Education Level: High
  • # of students: 2,257
  • # of teachers: 130
8
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$747
Property Tax -$483
Property Insurance -$128
HOA -$44
Property Management Fees -$99
CASH FLOW
$89

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.

$215,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,312

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,6504$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 4331 Morris Court Pearland, TX 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.07
    •  
  • 4906 Lochman Lane Pearland, TX 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1998
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 2822 Burgess Hill Court Pearland, TX 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1995
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 2826 Huntington Way Pearland, TX 4
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1996
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 2903 Avanti Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1985
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Dawn Killian
1.832.590.0018
Century 21 Olympian Galleria
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 52158021
Last Updated: 03/20/2021
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