Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3214 Settlers Way Boulevard Sugar Land, TX 77479

4 Beds 3 Baths 2,238 sqft Built 1983

$249,890

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.66
  • 3 Days on Market
  • MLS # : 84388766
  • Updated Date : 02/27/2021 at 21:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,238 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nb Elite Realty

Listing Agent's Description

Located in the heart of First Colony. Bright & Family-friendly floor plan. Nice 4 bedrooms,2.5 bath home, Plenty of cabinet space. Tile, laminate floor, wood stairs, Granite countertop, Stainless steel appliances. Master bedroom down with garden tub and separate shower. Exemplary schools including Clements High School. Never flooded during Harvey!

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: 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
 

$224,901$274,879$249,890

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$868
Property Tax -$468
Property Insurance -$156
HOA -$38
Property Management Fees -$99
CASH FLOW
$151

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.

$249,890

PROJECTED PRICE

$1,780

PROJECTED RENT

0.71%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,971

INVESTMENT

$71,971

Down Payment
$62,473
Rehab Estimate
$5,750
Closing Costs
$3,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,473
Loan Amount $187,418
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7804$1,8755$1,950
$1,950
RENT COMPS ANALYSIS
  • 3214 Settlers Way Boulevard Sugar Land, TX 3
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.80
    •  
  • 3118 Redcliff Drive Sugar Land, TX 1
    • 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 1983
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 3323 Green Fields Drive Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1982
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 3618 Bartons Lane Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1983
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.80
    •  
  • 3022 Mesquite Drive Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1983
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
PROPERTY LISTING DETAILS
Gary Lu
1.832.660.2826
Nb Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84388766
Last Updated: 02/27/2021
BESbswy