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3415 Hidden Creek Drive Sugar Land, TX 77479

3 Beds 2 Baths 1,460 sqft Built 1982

$230,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $157.53
  • 2 Days on Market
  • MLS # : 76785904
  • Updated Date : 11/02/2020 at 14:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

What a cute and darling home! So nicely updated with gray tile throughout, granite counter tops, wooden blinds, and a newly added extended, covered patio.Enter to a bright, light and oversized family room.You'll love the choice of floor tile and the fireplace surround.Kitchen is well appointed with a surprisingly large pantry.The primary bedroom,which is already quite large,also has a sitting area and adjoining private bath.The split plan features two bedrooms and a full bath on the opposite side of the house.Great covered patio and large yard.

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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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$849
Property Tax -$431
Property Insurance -$111
HOA -$35
Property Management Fees -$99
CASH FLOW
$66

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.

$230,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.69%

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,5904$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3415 Hidden Creek Drive Sugar Land, TX 3
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.09
    •  
  • 3119 W Heatherock Circle Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1983
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 3046 Sleepy Hollow Drive Sugar Land, TX 2
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.10
    •  
  • 3006 Mosby Drive Sugar Land, TX 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1978
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 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
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Rande Wagner
1.713.962.0276
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76785904
Last Updated: 11/02/2020
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