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8507 Pearl Lake Drive Houston, TX 77095

4 Beds 3 Baths 1,936 sqft Built 1980

$205,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $105.89
  • 3 Days on Market
  • MLS # : 3610259
  • Updated Date : 11/13/2020 at 14:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,936 sqft
  • Baths : 2 full , 1 half
Listing Agent

Key 2 Texas Realty

Listing Agent's Description

Hard to come by, HUGE Lot!! This charming 4 bedroom / 2.5 bath home is well maintained & right in pocket of tons of shopping centers & restaurants. Granite counter tops, and ALL Kitchen appliances stay! XL extended outdoor patio is an amazing Entertainment space! Priced to sell, stop by today.

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: Copperfield Northmead Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $98k225k

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

Neighborhood: Copperfield Northmead Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8651677

* 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
Fiest Elementary School Primary Regular 1,130 61 5
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Regular 3,667 214 NA

Fiest Elementary School

  • Education Level: Primary
  • # of students: 1,130
  • # of teachers: 61
5
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$756
Property Tax -$432
Property Insurance -$158
HOA -$40
Property Management Fees -$99
CASH FLOW
$84

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.

$205,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5704$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 8507 Pearl Lake Drive Houston, TX 3
    • 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.81
    •  
  • 8530 Rose Manor Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1981
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 15518 Meadow Village Drive Houston, TX 2
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1982
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 15310 Glenwood Park Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1981
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 15650 Pebble Lake Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1981
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Cory Gutowski
1.281.433.0999
Key 2 Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 3610259
Last Updated: 11/13/2020
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