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16311 Soaring Eagle Drive Sugar Land, TX 77498

4 Beds 3 Baths 2,727 sqft Built 2003

$259,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $95.31
  • 4 Days on Market
  • MLS # : 61284395
  • Updated Date : 03/27/2021 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,727 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Southwest

Listing Agent's Description

Step through the door into this lovely, light and bright, spacious home* Rare oversized lot (28049 square feet) * Laminate wood and tile grace the floors through-out except for the carpeted stairs * Primary bedroom located on first floor includes a spacious walk-in closet* Eat-in kitchen includes granite bar and looks out to the family room * Great for entertaining and large gatherings * Upstairs boasts of an exceptional large gameroom, three spacious bedrooms, several include walk-in closets* Recent updates include water heater (2021), roof (2020), dishwasher and fence (2018) * Home has many other note worthy features including energy efficient windows and convenient exterior cement board siding * Walk to the subdivision pool and playground * FBISD * Lower tax rates *

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: Eaglewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $105k352k

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

Neighborhood: Eaglewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292179

* 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
Holley Elementary School Primary Regular 754 52 6
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Holley Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 52
6
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$903
Property Tax -$487
Property Insurance -$185
HOA -$36
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.

$259,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 16311 Soaring Eagle Drive Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 16307 Pebble Crest Court Houston, TX 2
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2001
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 9518 Eaglewood Spring Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2002
    LEASED 03/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 8202 Cliffshire Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 15910 Highland Brook Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 1998
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.71
    •  
PROPERTY LISTING DETAILS
Martha Lusk
1.713.826.2331
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 #: 61284395
Last Updated: 03/27/2021
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