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16307 Redwood Forest Court Sugar Land, TX 77498

4 Beds 2 Baths 1,731 sqft Built 1986

$198,500

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $114.67
  • 3 Days on Market
  • MLS # : 61196544
  • Updated Date : 11/14/2020 at 20:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,731 sqft
  • Baths : 2 full
Listing Agent

Kei Realty Solutions Llc.

Listing Agent's Description

Welcome Home! Beautiful Property on Quiet Cul-de-sac Street! Zoned and walking distance to sought after Oyster Creek Elementary and Garcia Middle School. Quick access to Hwy 6, Grand Parkway, Hwy 59, and amazing Sugar Land shopping! Schedule your showing 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: Village of Oak Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Village of Oak Lake

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
 

$178,650$218,350$198,500

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$732
Property Tax -$389
Property Insurance -$127
HOA -$37
Property Management Fees -$99
CASH FLOW
$206

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.

$198,500

PROJECTED PRICE

$1,590

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,353

INVESTMENT

$58,353

Down Payment
$49,625
Rehab Estimate
$5,750
Closing Costs
$2,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$732

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,625
Loan Amount $148,875
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$19,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,614

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5903$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 16307 Redwood Forest Court Sugar Land, TX 2
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.92
    •  
  • 16319 Hidden Gate Court Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1985
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.91
    •  
  • 16302 Ginger Run Way Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1985
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 16307 Elmwood Point Lane Sugar Land, TX 4
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1986
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 16339 Elmwood Point Lane Sugar Land, TX 5
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 1987
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Keisha Miller
1.281.989.1552
Kei Realty Solutions Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 61196544
Last Updated: 11/14/2020
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