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5307 Whitney Court Pasadena, TX 77505

3 Beds 2 Baths 1,467 sqft Built 1999

$224,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $153.31
  • 3 Days on Market
  • MLS # : 5276973
  • Updated Date : 01/09/2021 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 2 full
Listing Agent

Realty Associates

Listing Agent's Description

What a gem!!! A beautiful, well kept home with all sides brick on a corner lot. Home boasts an open floor plan with a well designed kitchen and breakfast area. The primary bathroom updated in 2018 with a gloriously large shower, double sinks and new tile. Hall bath also updated in 2018. The backyard has 2 sheds in it that include one that is finished and has a/c in it; a she or he shed:)) A/C, heater and ducting all replaced in 2018. Recently painted inside and out! List of upgrades and extras available online. Make your appointment today!!!

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
Turner Elementary School Primary Regular 569 36 7
Elmer G Bondy Intermediate School Middle Regular 998 59 8
Pasadena Memorial High School High Regular 3,121 177 5

Turner Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Elmer G Bondy Intermediate School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 59
8
GreatSchools Rating

Pasadena Memorial High School

  • Education Level: High
  • # of students: 3,121
  • # of teachers: 177
5
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$781
Property Tax -$545
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$98

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.

$224,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.73%

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$800k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,687

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6954$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 5307 Whitney Court Pasadena, TX 2
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 5243 Whitney Court Pasadena, TX 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1998
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.17
    •  
  • 5018 Misty Lane Pasadena, TX 3
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2001
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 5015 Misty Lane Pasadena, TX 4
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 2000
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
  • 4810 Julia Court Pasadena, TX 5
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 2003
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.16
    •  
PROPERTY LISTING DETAILS
Belinda Olsen
1.281.846.8739
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5276973
Last Updated: 01/09/2021
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