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2407 Chelston Court Sugar Land, TX 77478

4 Beds 2 Baths 2,516 sqft Built 1988

INVESTimate

$269,900

List Price

$1,810

$1,629 - $1,991

Rent Est.

$292,194  ( +8.26%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1988
  • Price/Sqft : $107.27
  • 79 Days on Market
  • MLS # : 60124665
  • Updated Date : 08/25/2020 at 17:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,516 sqft
  • Baths : 2 full
Listing Agent

Re/max Southwest

Listing Agent's Description

Back on the market. Buyer could not get financing. Beautiful Large 1 story all brick home with tons of upgrades!! 18" ceramic tile thru-out whole house, No Carpet!! Kitchen with granite counter, stainless steel undermounted sink & faucet, tile backsplash, kitchen cabinets replaced! Large walk-in pantry. Partial new fence. Roof and A/C is in good order. Both baths with newer sink faucets & towel racks. 3 Walk-ins. Most windows & doors have custom crown & finger-joint trim. Solar screens & venetian blinds & custom drapery. High ceilings in living, dining, den & master bedroom. Prewired surround sound with speakers in den. Foundation repaired with lifetime transferable warranty. 6 Ceiling fans. Washer, dryer, alarm system, garage opener, water filter system, auto sprinkler system..all included. Master with double sinks, large garden tub, separate shower & large walk-in closet.

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: Barrington Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $112k352k

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

Neighborhood: Barrington Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10262179

* 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
Barrington Place Elementary School Primary Regular 776 50 9
Dulles Middle School Middle Regular 1,294 65 8
Dulles High School High Regular 2,189 117 8

Barrington Place Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 50
9
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$996
Property Tax -$505
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$38

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.

$269,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 8.26%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8004$1,8105$1,850
$1,850
RENT COMPS ANALYSIS
  • 2407 Chelston Court Sugar Land, TX 4
    • 4 beds 2 baths ∙ 2,516 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,516 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.72
    •  
  • 13423 Venice Villa Lane Sugar Land, TX 1
    • 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2000
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 13427 Sarento Village Sugar Land, TX 2
    • 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2000
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 13127 Newberry Street Sugar Land, TX 3
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1991
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 12619 Vineyard Trail Lane Sugar Land, TX 5
    • 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
PROPERTY LISTING DETAILS
K.c. Lam
1.281.265.4106
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 #: 60124665
Last Updated: 08/25/2020
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