Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $101.63
- 4 Days on Market
- MLS # : 89733996
- Updated Date : 01/09/2021 at 12:56
CONSTRUCTION
- Beds : 4
- Floor Size : 2,386 sqft
- Baths : 2 full , 1 half
Listing Agent
Gusto Real Estate, Llc
Listing Agent's Description
Welcome to this spacious home in the established Pearland neighborhood of Springfield. Inviting 2 story foyer with ceramic tile. Island kitchen with granite has plentiful cabinets, 2 pantry's and breakfast area. Formal Dining is open to spacious family room with fireplace that overlooks back yard. Huge owners retreat has large walk in closet and fabulous owner's bath has dual sinks updated shower with large soaking tub. Three bedrooms upstairs with hall bath and game room. Enjoy the covered patio that is perfect for entertaining or back yard grilling. No back neighbors. Numerous nearby amenities include schools, city parks with tennis, trails, City Recreation/Natatorium, restaurants. Access to 288 via Bailey. Lower tax rate, NEVER FLOODED.
SEE MORE
- 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: Pearland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pearland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,910 |
| EXPENSES | Loan Payment | -$842 |
| Property Tax | -$545 | |
| Property Insurance | -$188 | |
| HOA | -$13 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$223
|
||
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.
$242,500
PROJECTED PRICE
$1,910
PROJECTED RENT
0.79%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$70,013
LOAN DETAILS
$842
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $60,625 |
| Loan Amount | $181,875 |
6.25
YEARS SAVED
$16,777
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,910
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$2,052
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
5102 Spring Branch Drive Pearland, TX 2
- 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $1,910
- $0.80
-
4009 Spring Branch Drive Pearland, TX 1
- 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1991
LEASED 02/14/20- Rent
- Rent Per SQFT
- $1,750
- $0.78
-
5109 Big Springs Drive Pearland, TX 3
- 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2001
LEASED 11/28/20- Rent
- Rent Per SQFT
- $1,925
- $0.82
-
4004 E Spring Branch Drive Pearland, TX 4
- 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1994
LEASED 12/29/20- Rent
- Rent Per SQFT
- $2,100
- $0.92
-
4013 Ivywood Drive Pearland, TX 5
- 4 beds 4 baths ∙ 2,386 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,386 Sqft ∙ Built 1993
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,200
- $0.92
PROPERTY LISTING DETAILS
1.281.381.7951
Gusto Real Estate, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 89733996
Last Updated: 01/09/2021
