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16823 Benwick Drive Sugar Land, TX 77498

4 Beds 3 Baths 2,266 sqft Built 1994

$245,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $108.12
  • 53 Days on Market
  • MLS # : 16121342
  • Updated Date : 01/02/2021 at 10:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,266 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Location! Location! Location! Your beautiful new home is situated at the end of a quiet street, right next to Duhacsek Park at the best location in the neighborhood. Feels like country living! This 4 bedroom/2.5 bath home has fresh paint throughout and offers spacious living areas on the first floor. The second floor boasts 4 bedrooms, including a huge primary bedroom and bath oasis. Enjoy an amazing backyard with an oversized deck in a great location in Sugar Land. This traditional home is move-in ready, but also priced to allow you to make your own custom upgrades to suit your desires. Village of Oak Lake offers playgrounds, walking trails, pool and tennis courts, plus highly-ranked Fort Bend ISD schools.

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: 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$904
Property Tax -$480
Property Insurance -$158
HOA -$39
Property Management Fees -$99
CASH FLOW
$30

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.

$245,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.70%

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$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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7503$1,8004$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 16823 Benwick Drive Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 16922 Cobbler Crossing Drive Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 1994
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 16422 Concord Falls Lane Lane Sugar Land, TX 3
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1992
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 16430 Ash Point Lane Sugar Land, TX 4
    • 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 1992
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 16618 Broadoak Grove Lane Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1998
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
PROPERTY LISTING DETAILS
Darla Fanta
1.832.279.3600
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16121342
Last Updated: 01/02/2021
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