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2231 Sunswept Court Sugar Land, TX 77478

3 Beds 2 Baths 1,565 sqft Built 1983

INVESTimate

$209,900

List Price

$1,520

$1,368 - $1,672

Rent Est.

$224,593  ( +7.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $134.12
  • 6 Days on Market
  • MLS # : 3756308
  • Updated Date : 08/23/2020 at 08:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,565 sqft
  • Baths : 2 full
Listing Agent

Lei & Associates, Llc

Listing Agent's Description

Absolutely Gorgeous 1-story well-maintained home features 3Bed/2bath with open floor plan filled with plenty natural lighting. Open, Bright and Airy! Decent high ceiling family room with big Windows. Formal dinning, Breakfast room with fire place. Attached garage with fenced yard. Community amenities include pools, playground and parks. LOCATION IS AWESOME! Located in the popular sugar land with easy access to HWY 59 and Highway 6, Fort bend ISD schools, Close to grocery stores, shopping centers and great restaurants! Harvey:No Flooding. Must See!

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: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10462179

* 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
Highlands Elementary School Primary Regular 550 40 8
Dulles Middle School Middle Regular 1,294 65 8
Dulles High School High Regular 2,189 117 8

Highlands Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 40
8
GreatSchools Rating

Dulles Middle School

  • Education Level: Middle
  • # of students: 1,294
  • # of teachers: 65
8
GreatSchools Rating

Dulles High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 117
8
GreatSchools Rating
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$774
Property Tax -$393
Property Insurance -$118
HOA -$44
Property Management Fees -$99
CASH FLOW
$92

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.

$209,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.00%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,522

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,5204$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 2231 Sunswept Court Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.97
    •  
  • 2218 Trail West Street Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 1814 Meadowlocke Lane Sugar Land, TX 2
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1983
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.97
    •  
  • 2242 Trail West Street Sugar Land, TX 4
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1982
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 2227 Trail West Street Sugar Land, TX 5
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
PROPERTY LISTING DETAILS
Wenrong Shi
1.832.860.3335
Lei & Associates, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 3756308
Last Updated: 08/23/2020
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