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2830 Great Lakes Avenue Sugar Land, TX 77479

3 Beds 2 Baths 1,341 sqft Built 1984

$234,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $175.17
  • 2 Days on Market
  • MLS # : 83543607
  • Updated Date : 03/20/2021 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,341 sqft
  • Baths : 2 full
Listing Agent

Van Slyke Real Estate, Llc

Listing Agent's Description

Precious home in the heart of Sugar Land! Exemplary Fort Bend County Schools! This stunning home offers a large den with fireplace, three bedrooms and 2 bathrooms. Hardwood floors in den and bedrooms. Great kitchen with Granite counters that overlooks the den. Bathrooms have beautiful granite counter tops, large backyard with no rear neighbors! New roof in 2019. Totally remodeled in 2015 with all new double pane windows, new A/C, new appliances and hot water heater. You and the family will love the Aquatic Center. First Colony Parks & Recreation maintains several walking trails, parks, Pools and playgrounds and activities including Bocce Ball, Sand Volleyball, Tennis or Disc Golf. You can enjoy numerous pools in First Colony. Your dogs will enjoy the awesome Dog Park. This home won't last long so make your appointment today to view your next home.

SEE MORE

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: Lakefield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Lakefield

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
Austin Parkway Elementary School Primary Regular 1,014 62 8
First Colony Middle School Middle Regular 1,266 69 10
Clements High School High Regular 2,439 128 10

Austin Parkway Elementary School

  • Education Level: Primary
  • # of students: 1,014
  • # of teachers: 62
8
GreatSchools Rating

First Colony Middle School

  • Education Level: Middle
  • # of students: 1,266
  • # of teachers: 69
10
GreatSchools Rating

Clements High School

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

$211,410$258,390$234,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$816
Property Tax -$440
Property Insurance -$105
HOA -$63
Property Management Fees -$99
CASH FLOW
$8

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.

$234,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$4,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,522

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5304$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 2830 Great Lakes Avenue Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.14
    •  
  • 2827 Lakefield Way Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1984
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 4506 Pioneer Trail Sugar Land, TX 2
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1984
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 4410 Treasure Trail Sugar Land, TX 4
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1985
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.16
    •  
  • 4531 Pioneer Trail Sugar Land, TX 5
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1984
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.16
    •  
PROPERTY LISTING DETAILS
Helen Van Slyke
1.832.451.9377
Van Slyke Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83543607
Last Updated: 03/20/2021
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