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

610 Pedernales Street Webster, TX 77598

4 Beds 2 Baths 2,212 sqft Built 2011

$319,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $144.62
  • 3 Days on Market
  • MLS # : 44895960
  • Updated Date : 11/02/2020 at 13:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Home Sales By Us Realty

Listing Agent's Description

This gem amongst jewels won't last long - rare one story located within the Edgewater Community. It has the making of a model home with decorative arches, high ceilings, 8' doors, oversized molding, and wood floors in entry and dining. Covered back patio with tv mount and gas outlet as well as a front porch to enjoy your favorite beverage in the morning. Lots of natural light throughout. A dining room just right for family gatherings. Custom shelving in the pantry and owner's closet. Recessed lighting throughout and other upgrades include motion sensor lighting, new faucets, Nest thermostat, Smart Home locks, and more. I would like to be the first person to welcome you home!

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: Edgewater

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $86k222k

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

Neighborhood: Edgewater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9142828

* 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
Mcwhirter Elementary School Primary Regular 791 54 4
Clear Creek Intermediate School Middle Regular 792 54 5
Clear Creek High School High Regular 2,287 146 7

Mcwhirter Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 54
4
GreatSchools Rating

Clear Creek Intermediate School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 54
5
GreatSchools Rating

Clear Creek High School

  • Education Level: High
  • # of students: 2,287
  • # of teachers: 146
7
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,180
Property Tax -$945
Property Insurance -$177
HOA -$81
Property Management Fees -$99
CASH FLOW
$178

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.

$319,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 1.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$5.0k$0.0$5.0k$10k$15k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,691

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,6603$2,8004$2,850
$2,850
RENT COMPS ANALYSIS
  • 610 Pedernales Street Webster, TX 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.20
    •  
  • 108 Briarglen Drive League City, TX 1
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1999
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.12
    •  
  • 18731 Egret Oaks Lane Webster, TX 3
    • 3 beds 4 baths ∙ 2,088 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,088 Sqft ∙ Built 2006
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.34
    •  
  • 632 Pedernales Street Webster, TX 4
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2012
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.19
    •  
PROPERTY LISTING DETAILS
Archie Mccoy Iii
1.713.306.0506
Home Sales By Us Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44895960
Last Updated: 11/02/2020
BESbswy