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

16402 Maple Downs Lane Sugar Land, TX 77498

3 Beds 2 Baths 1,869 sqft Built 1986

$219,990

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $117.70
  • 2 Days on Market
  • MLS # : 27774634
  • Updated Date : 11/02/2020 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,869 sqft
  • Baths : 2 full
Listing Agent

Home Dream Solutions

Listing Agent's Description

Welcome home to this amazing 2 story house in the heart of Sugar Land located on a corner lot! One of the largest lots in the neighborhood with amazing landscaping , incredibly large entertainment deck & lemon trees. Roof 2006, AC- 2010, Water Heater -2016. Rented last year for 1825 per month !! Walk to the Oyster Creek Elementary School ..Zoned to Austin High and Garcia Middle !! 2 story entrance with engineered hardwood floors blanketed with natural lighting that welcomes you home. Primary retreat offers relaxation with a fireplace, private atrium & private patio area. Upstairs is a game room, 2 bedrooms and 2nd bathroom. Both bathrooms have custom built vanities and granite counter-tops. The backyard is huge with a covered porch perfect for family gatherings. Great home, great price, great location and zoned to excellent schools!

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
 

$197,991$241,989$219,990

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 -$812
Property Tax -$431
Property Insurance -$135
HOA -$37
Property Management Fees -$99
CASH FLOW
$76

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.

$219,990

PROJECTED PRICE

$1,590

PROJECTED RENT

0.72%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,047

INVESTMENT

$64,047

Down Payment
$54,998
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,998
Loan Amount $164,993
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,316

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
  • $0.85

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5903$1,6004$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 16402 Maple Downs Lane Sugar Land, TX 2
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.85
    •  
  • 16334 Woma Court Sugar Land, TX 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.88
    •  
  • 16747 Village View Trail Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2000
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 16330 Woma Court Sugar Land, TX 4
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 16335 Woma Court Sugar Land, TX 5
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2005
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Manika Sethia
1.832.794.1312
Home Dream Solutions
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 27774634
Last Updated: 11/02/2020
BESbswy