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16719 Chestnut Meadow Court Sugar Land, TX 77479

4 Beds 3 Baths 2,491 sqft Built 1990

$337,200

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $135.37
  • 7 Days on Market
  • MLS # : 67831004
  • Updated Date : 01/06/2021 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,491 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Dimas Team

Listing Agent's Description

Lovely 4 bedroom, 2.5 bathroom, 2-story home featuring a 2-car detached garage, updated water heater, and recent paint! The 1st floor offers both tile and wood-type flooring throughout, crown molding, a formal living, separate formal dining, a fireplace in the den, a utility room, and a half bathroom. Also downstairs is the breakfast area with a tray ceiling and the kitchen which has granite countertops, a new dishwasher, a backsplash, a breakfast bar, and stainless steel appliances. Upstairs, you'll find upgraded carpet and all of the bedrooms including the primary bedroom suite that features crown molding, dual sinks, a garden tub, separate shower, and a walk-in closet. There's a spacious backyard with an open patio, and this home is located on a cul-de-sac lot with close proximity to Hwy 6, Southwest Fwy, parks, First Colony Mall, and more in the Sugar Land area! Showings from 6am-8pm: Download Zillow app to access. Search home in app. Click Self Tour to unlock while at front door.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Colony Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Colony Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10722434

* 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
Colony Meadows Elementary School Primary Regular 768 46 10
Fort Settlement Middle School Middle Regular 1,223 62 10
Clements High School High Regular 2,439 128 10

Colony Meadows Elementary School

  • Education Level: Primary
  • # of students: 768
  • # of teachers: 46
10
GreatSchools Rating

Fort Settlement Middle School

  • Education Level: Middle
  • # of students: 1,223
  • # of teachers: 62
10
GreatSchools Rating

Clements High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 128
10
GreatSchools Rating
 

$303,480$370,920$337,200

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,171
Property Tax -$637
Property Insurance -$171
HOA -$66
Property Management Fees -$99
CASH FLOW
$36

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.

$337,200

PROJECTED PRICE

$2,180

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,108

INVESTMENT

$95,108

Down Payment
$84,300
Rehab Estimate
$5,750
Closing Costs
$5,058

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,300
Loan Amount $252,900
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,1805$2,300
$2,300
RENT COMPS ANALYSIS
  • 16719 Chestnut Meadow Court Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.88
    •  
  • 3306 Stillmeadow Court Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1982
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 3306 Falling Brook Court Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 1982
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 16714 Rustic Colony Drive Sugar Land, TX 3
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1990
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 16718 Rustic Colony Drive Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1990
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mark Dimas
1.346.352.1999
Mark Dimas Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67831004
Last Updated: 01/06/2021
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