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15211 Park Glen Drive Sugar Land, TX 77498

4 Beds 4 Baths 2,967 sqft Built 1998

$299,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $101.08
  • 2 Days on Market
  • MLS # : 98803806
  • Updated Date : 11/21/2020 at 14:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,967 sqft
  • Baths : 3 full , 1 half
Listing Agent

Chandresh K. Patel

Listing Agent's Description

Beautiful and Well Maintained Oak Lake Estates Home featuring two full Master Bedrooms! Home features a formal living and dining room plus a spacious family room with high ceilings. All with beautiful wood laminate flooring. The upstairs features the second master, two secondary rooms and the game room. Lots of open space and great floor plan. Please verify all dimensions, listed dimensions are approximated.

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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: Oak Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Oak Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722179

* 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
Oyster Creek Elementary School Primary Regular 775 51 8
Garcia Middle School Middle Regular 1,276 66 9
Austin High School High Regular 2,315 121 9

Oyster Creek Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 51
8
GreatSchools Rating

Garcia Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 66
9
GreatSchools Rating

Austin High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 121
9
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,107
Property Tax -$588
Property Insurance -$198
HOA -$37
Property Management Fees -$99
CASH FLOW
$41

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.

$299,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.0%
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$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,129

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9703$2,0704$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 15211 Park Glen Drive Sugar Land, TX 3
    • 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.70
    •  
  • 11607 Oak Lake Park Drive Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1998
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 11934 Davis Mountains Drive Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2000
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.67
    •  
  • 15603 Mustang Island Drive Sugar Land, TX 4
    • 5 beds 4 baths ∙ 3,018 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,018 Sqft ∙ Built 2000
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 11410 Rock Bridge Lane Sugar Land, TX 5
    • 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 1999
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
PROPERTY LISTING DETAILS
Chandresh Patel
1.713.443.8523
Chandresh K. Patel
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98803806
Last Updated: 11/21/2020
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