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3115 The Highlands Drive Sugar Land, TX 77478

3 Beds 3 Baths 2,289 sqft Built 1981

$290,890

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $127.08
  • 6 Days on Market
  • MLS # : 52071103
  • Updated Date : 03/16/2021 at 21:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,289 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Iconic

Listing Agent's Description

Welcome to this Beautifully remodeled home, located in the Highly Desirable Highlands neighborhood in First Colony, featuring 3 bedrooms and 2.5 baths. This home boasts Soaring high ceilings upon first entrance, greeted with beautiful custom Spanish Marble tile, one inch thick. Recently painted with neutral colors, this home has an abundant amount of space for all your entertainment, including A Dining Room with Wet Bar, Formal Living Room and Family room. New Stainless steal appliances accent the rich Cherry Cabinetry in the kitchen. Large Game room upstairs for separate entrainment. HVAC and Water Heaters all replaced within past fiver years per seller. Don't let this one get away! Schedule your private showing today.

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: 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
 

$261,801$319,979$290,890

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,010
Property Tax -$545
Property Insurance -$159
HOA -$46
Property Management Fees -$99
CASH FLOW
-$19

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.

$290,890

PROJECTED PRICE

$1,840

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.0%
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$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,836

INVESTMENT

$82,836

Down Payment
$72,723
Rehab Estimate
$5,750
Closing Costs
$4,363

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,010

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,723
Loan Amount $218,168
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8404$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 3115 The Highlands Drive Sugar Land, TX 3
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.80
    •  
  • 3302 Cannon Pass Court Sugar Land, TX 1
    • 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1982
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 3315 Cannon Pass Court Sugar Land, TX 2
    • 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 1982
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 3202 Serene Oak Drive Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 1989
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 3031 Pecan Point Drive Sugar Land, TX 5
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1981
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Danielle Jones
1.346.901.0381
Realty One Group Iconic
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 52071103
Last Updated: 03/16/2021
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