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4806 Apple Springs Drive Pearland, TX 77584

3 Beds 2 Baths 1,434 sqft Built 1994

INVESTimate

$190,000

List Price

$1,410

$1,269 - $1,551

Rent Est.

$204,516  ( +7.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $132.50
  • 4 Days on Market
  • MLS # : 59095609
  • Updated Date : 08/23/2020 at 01:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Re/max Pearland

Listing Agent's Description

Welcome to the Heart Of Pearland! This lovely 3 Bedroom , 2 Bathroom and a 361 square foot gameroom (previously garage converted) is awaiting you! Centrally located to schools,shopping centers and easy access to Hwy 288, Beltway 8 and Hwy 35 & 45 for your commute. Big Backyard with no neighbors behind for privacy. No MUD TAXES!!!!! NO HOA FEES!!!! LOW TAX RATE!!!!! Call today as this house won't last long!

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
Alexander Middle School Primary Regular 691 37 9
Alexander Middle School Middle Regular 691 37 9
Pearland High School High Regular 2,920 177 7

Alexander Middle School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Alexander Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Pearland High School

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

$171,000$209,000$190,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$701
Property Tax -$427
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$59

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.

$190,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.64%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,5003$1,5504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 4806 Apple Springs Drive Pearland, TX 1
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 5425 Jefferson Street Pearland, TX 2
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2003
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 5008 Rockland Drive Pearland, TX 3
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 3121 Centennial Village Drive Pearland, TX 4
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2002
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 4305 Brazos Bend Drive Pearland, TX 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2008
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Yvonne Walker
1.832.385.2264
Re/max Pearland
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 59095609
Last Updated: 08/23/2020
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