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

1114 Greatwood Glen Drive Sugar Land, TX 77479

3 Beds 2 Baths 2,302 sqft Built 1992

$267,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $115.99
  • 4 Days on Market
  • MLS # : 55029246
  • Updated Date : 12/03/2020 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,302 sqft
  • Baths : 2 full
Listing Agent

Re/max Southwest

Listing Agent's Description

Nice open floorplan on this David Weekley one story. Updates include granite countertops in kitchen, stainless appliances, recent light fixtures and ceiling fans. Island kitchen open to the family room. Nice study at the front of the house. Wood laminate flooring and recent paint. Backyard patio, sprinkler system, recent dishwasher and oven.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greatwood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k363k

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

Neighborhood: Greatwood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722244

* 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
Dickinson Elementary School Primary Regular 560 30 10
Reading Junior High School Middle Regular 1,163 58 10
George Ranch High School High Regular 2,215 112 8

Dickinson Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 30
10
GreatSchools Rating

Reading Junior High School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 58
10
GreatSchools Rating

George Ranch High School

  • Education Level: High
  • # of students: 2,215
  • # of teachers: 112
8
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$985
Property Tax -$541
Property Insurance -$160
HOA -$74
Property Management Fees -$99
CASH FLOW
$72

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.

$267,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.3%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9303$1,9504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1114 Greatwood Glen Drive Sugar Land, TX 2
    • 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.84
    •  
  • 619 Deer Hollow Drive Sugar Land, TX 1
    • 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1999
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 7403 Cherry Brook Court Sugar Land, TX 3
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1994
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 1102 Springdale Court Sugar Land, TX 4
    • 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 1993
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 1115 Wood Fern Drive Sugar Land, TX 5
    • 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,308 Sqft ∙ Built 1992
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
PROPERTY LISTING DETAILS
Curtis Warren
1.713.303.1111
Re/max Southwest
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55029246
Last Updated: 12/03/2020
BESbswy