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6314 Gleneagles Drive Pasadena, TX 77505

4 Beds 3 Baths 2,204 sqft Built 1983

$270,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $122.50
  • 3 Days on Market
  • MLS # : 10752801
  • Updated Date : 01/01/2021 at 09:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,204 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Spacious 4 bed/ 2.5 bath home ready for new owners. Updated flooring throughout the house this year, including new wood stairs! Primary bed & bath downstairs. Large living area with fireplace plus a room at the front of house can be a dining or 2nd living room. Kitchen fridge, washer, and dryer included! New French doors open to a fenced-in, partially covered porch. Located just off of Fairmont Pkwy with easy access to Beltway 8. Zoned for Deer Park ISD and minutes from any shop you can think of. Book your showing 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: Baywood Shadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $76k305k

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

Neighborhood: Baywood Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8732063

* 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
Fairmont Elementary School Primary Regular 809 48 9
Fairmont Junior High School Middle Regular 759 45 8
Deer Park High School South Campus High Regular 4,103 258 6

Fairmont Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 48
9
GreatSchools Rating

Fairmont Junior High School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 45
8
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$996
Property Tax -$655
Property Insurance -$176
HOA -$5
Property Management Fees -$99
CASH FLOW
$89

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.

$270,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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-$4.0k-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0004$2,0205$2,300
$2,300
RENT COMPS ANALYSIS
  • 6314 Gleneagles Drive Pasadena, TX 4
    • 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.92
    •  
  • 6514 Coldstream Drive Pasadena, TX 1
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1985
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 6022 Spanish Oak Drive Pasadena, TX 2
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 4602 Oakmont Circle Pasadena, TX 3
    • 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1981
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 6519 Stone Briar Drive Pasadena, TX 5
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 1994
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ozzie Ramirez
1.281.968.8444
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10752801
Last Updated: 01/01/2021
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