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3131 Jenny Drive Sugar Land, TX 77479

3 Beds 2 Baths 1,410 sqft Built 1982

$220,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $156.03
  • 3 Days on Market
  • MLS # : 5697714
  • Updated Date : 12/18/2020 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Re/max Southwest

Listing Agent's Description

Great location in Sugar Land, huge corner lot. All new double paned windows. New front door. 9 foot ceilings. Replaced driveway. Covered front porch. New gutters. Kitchen has newer appliances. Granite counters w/ undermount sink. New carpet in all the bedrooms. Fresh paint inside. Recent AC and new electrical panel. Big open family room. Close to tons of shopping. Walking distance to elementary school. Zoned to great schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Settlers Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Settlers Park

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
Settlers Way Elementary School Primary Regular 770 51 8
First Colony Middle School Middle Regular 1,266 69 10
Clements High School High Regular 2,439 128 10

Settlers Way Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 51
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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$812
Property Tax -$412
Property Insurance -$109
HOA -$40
Property Management Fees -$99
CASH FLOW
$69

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.

$220,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 3131 Jenny Drive Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.09
    •  
  • 3138 Windmill Street Sugar Land, TX 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1977
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 3046 Sleepy Hollow Drive Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.10
    •  
  • 3038 Sleepy Hollow Drive Sugar Land, TX 4
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1979
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 3011 Sleepy Hollow Drive Sugar Land, TX 5
    • 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 1982
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jason Moore
1.281.630.1846
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 #: 5697714
Last Updated: 12/18/2020
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