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5911 Ollia Circle Pasadena, TX 77505

3 Beds 2 Baths 1,466 sqft Built 1981

$189,999

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $129.60
  • 6 Days on Market
  • MLS # : 65692051
  • Updated Date : 01/05/2021 at 21:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Modern Charm Realty

Listing Agent's Description

SELLER FINANCING AVAILABLE! %10 DOWN, %6 INTEREST 30 YEAR LOAN! MINIMAL CREDIT CHECK! This is an amazing opportunity for that is seeking a great financing deal! This lovely home resides on a quiet cul-de-sac in Country Briar. Wonderful and well-maintained Neighborhood! This floor plan comes with a massive living room and fireplace, 2-car garage, oversized master bedroom that comes with 2 walk-in closets. Fenced backyard, Central A/C, ceramic tile floors. This property is one block away from Bliss Meadow Park with a children's playground, it is surrounded by countless Restaurants, Grocery Stores, and easy access to Beltway 8!

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
 

$170,999$208,999$189,999

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$660
Property Tax -$461
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$234

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.

$189,999

PROJECTED PRICE

$1,580

PROJECTED RENT

0.83%

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$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

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,499
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$20,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5804$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 5911 Ollia Circle Pasadena, TX 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.08
    •  
  • 6315 Cresta Place Drive Pasadena, TX 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
  • 3635 Sweetbriar Drive Pasadena, TX 2
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1979
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 6219 Ray Drive Pasadena, TX 4
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1991
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 6339 Cresterrace Drive Pasadena, TX 5
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1977
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
PROPERTY LISTING DETAILS
Christopher Davidson
1.281.919.7929
Modern Charm Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65692051
Last Updated: 01/05/2021
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