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2506 Parkhaven Drive Sugar Land, TX 77478

4 Beds 3 Baths 2,627 sqft Built 1997

$299,500

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $114.01
  • 2 Days on Market
  • MLS # : 77635496
  • Updated Date : 03/13/2021 at 13:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

BEAUTIFUL LARGE HOME IN THE CITY OF SUGAR LAND FEATURES LARGE KITCHEN WOOD BAR, STAINLESS STEEL APPLIANCES, GRANITE COUNTERTOPS, WOOD AND TILE FLOORS THROUGHOUT LIVING AND KITCHEN AREAS. PRIMARY BATHROOM WITH DOUBLE SINKS SEPARATE SHOWER AND HOLLYWOOD BATH AND LARGE WALK-IN CLOSET. UPSTAIRS IS THE GAMEROOM WITH 3 LARGE BEDROOMS. UTILITY ROOM IS INSIDE THE HOME. WALKING DISTANCE TO ELDRIDGE PARK AND BARRINGTON ELEMENTARY SCHOOL IS THE NEIGHBORHOOD. GROCERY STORES NEARBY AND SUGAR LAND TOWN SQUARE MINUTES AWAY! COME CHECK OUT THIS HOUSE BEFORE ITS GONE!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,040
Property Tax -$561
Property Insurance -$179
HOA -$25
Property Management Fees -$99
CASH FLOW
-$24

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.

$299,500

PROJECTED PRICE

$1,880

PROJECTED RENT

0.63%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8804$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 2506 Parkhaven Drive Sugar Land, TX 3
    • 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.72
    •  
  • 13030 Huntleigh Way Sugar Land, TX 1
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 1985
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 2602 Eldridge Park Way Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2000
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 13515 Naples Bridge Road Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 12610 Vineyard Trail Lane Sugar Land, TX 5
    • 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1999
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
PROPERTY LISTING DETAILS
Sylvia Soliz
1.281.300.4887
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77635496
Last Updated: 03/13/2021
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