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1130 Greatwood Glen Drive Sugar Land, TX 77479

4 Beds 4 Baths 2,889 sqft Built 1992

$329,888

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $114.19
  • 4 Days on Market
  • MLS # : 4374227
  • Updated Date : 02/05/2021 at 20:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,889 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jih Jou Lin

Listing Agent's Description

Located in Greatwood. Original owner. This home features 4 bedrooms, 3.5 baths. Large kitchen with huge island, desk area and large pantry. Spacious Master bedroom offers vaulted ceilings, ceiling fan and sitting area with access to the backyard. New 50 gallon hot water heater. Generator ready with gas connection. Double paned windows through out the entire house. Solar screens with 2" wood blinds. Backyard with covered patio. Walking distance to Dickinson Elementary School, community pool and park.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$296,899$362,877$329,888

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,146
Property Tax -$663
Property Insurance -$194
HOA -$73
Property Management Fees -$99
CASH FLOW
$226

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.

$329,888

PROJECTED PRICE

$2,400

PROJECTED RENT

0.73%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,170

INVESTMENT

$93,170

Down Payment
$82,472
Rehab Estimate
$5,750
Closing Costs
$4,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,472
Loan Amount $247,416
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,420

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4004$2,4005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1130 Greatwood Glen Drive Sugar Land, TX 4
    • 4 beds 4 baths ∙ 2,889 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,889 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 1522 Alderwood Drive Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1989
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 1411 Alderwood Drive Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 1989
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 6726 Wildacre Drive Sugar Land, TX 3
    • 4 beds 4 baths ∙ 2,984 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,984 Sqft ∙ Built 1992
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 7302 Emerald Glen Drive Sugar Land, TX 5
    • 4 beds 4 baths ∙ 2,949 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,949 Sqft ∙ Built 1992
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Paul Lin
1.281.704.3298
Jih Jou Lin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 4374227
Last Updated: 02/05/2021
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