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903 Country Place Boulevard Pearland, TX 77584

3 Beds 3 Baths 2,100 sqft Built 1982

$222,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $105.71
  • 74 Days on Market
  • MLS # : 64263581
  • Updated Date : 01/13/2021 at 15:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Utr Texas, Realtors

Listing Agent's Description

Welcome home to this magnificent 3/2.5/2, in the highly desirable 55+ Gated Golf Course Community of CountryPlace*This gorgeous home sits on a large corner cul-de-sac lot with a lush sweeping lawn & stately oak trees*Upon entering the front door you will feel right at home in the gracious living area with high ceilings,fireplace,chandelier, wall of windows & half bath*Open floor plan great for entertaining*Formal dining area is just off the bright & cheerful kitchen*The real show stopper is the huge den with stunning cedar ceilings,brick fireplace & fabulous views of the lavish backyard*Luxurious owner's retreat with en suite bath and large walk-in closet*Oversize bedrooms with large closets*Backyard has 2 storage areas*Crane A/C 8/2020*Recent upstairs carpeting*recent dishwasher*Refrigerator,Washer/Dryer stay*The community offers an array of amenities:rated Golf,Olympic size pool,Tennis,lake for fishing,many social activities to choose from at the clubhouse*COME HOME TO GREATNESS!!

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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: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Country Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10712063

* 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
Rogers Middle School Primary Regular 889 49 9
Berry Miller Jr High School Middle Regular 961 52 9
Glenda Dawson High School High Regular 2,257 130 8

Rogers Middle School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 49
9
GreatSchools Rating

Berry Miller Jr High School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 52
9
GreatSchools Rating

Glenda Dawson High School

  • Education Level: High
  • # of students: 2,257
  • # of teachers: 130
8
GreatSchools Rating
 

$199,800$244,200$222,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$771
Property Tax -$499
Property Insurance -$169
HOA -$165
Property Management Fees -$99
CASH FLOW
$57

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.

$222,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$64,580

INVESTMENT

$64,580

Down Payment
$55,500
Rehab Estimate
$5,750
Closing Costs
$3,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,500
Loan Amount $166,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7604$1,8805$1,956
$1,956
RENT COMPS ANALYSIS
  • 903 Country Place Boulevard Pearland, TX 3
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.84
    •  
  • 3922 E Peach Hollow Circle Pearland, TX 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1994
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 2301 Day Drive Pearland, TX 2
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 1011 Bristol Way Pearland, TX 4
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2000
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.87
    •  
  • 2822 Poplar Creek Lane Pearland, TX 5
    • 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 1983
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,956
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lisa Robeaux
1.281.948.9289
Utr Texas, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64263581
Last Updated: 01/13/2021
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