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

36 Grants Lake Circle Sugar Land, TX 77479

3 Beds 3 Baths 1,995 sqft Built 1994

$289,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $145.31
  • 2 Days on Market
  • MLS # : 72335057
  • Updated Date : 01/30/2021 at 22:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometown America Incorporated

Listing Agent's Description

Lovely 3/2.5/2 patio home in desirable First Colony location. Updated with granite counters in kitchen and baths, hardwood floors throughout living areas and bedrooms, tile floors in kitchen and baths. Roof has radiant barrier. Primary bedroom is downstairs, two spacious secondary bedroom up plus loft/game room. Loft could be study, TV room, or exercise room. High ceilings with ceiling fans in every room; gas log fireplace. Formal dining room opens to family room. Functional and efficient island kitchen with adjoining breakfast area. Back yard features a large deck. This home is conveniently located to all First Colony amenities and Highway 59. Zoned to Clements HS. Make an appointment to see this home today!

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: Grants Lake Patio Homes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k355k

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

Neighborhood: Grants Lake Patio Homes

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
Colony Bend Elementary School Primary Regular 517 37 NA
First Colony Middle School Middle Regular 1,266 69 10
Clements High School High Regular 2,439 128 10

Colony Bend Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 37
NA
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,007
Property Tax -$543
Property Insurance -$142
HOA -$68
Property Management Fees -$99
CASH FLOW
$32

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.

$289,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7504$1,8005$1,890
$1,890
RENT COMPS ANALYSIS
  • 36 Grants Lake Circle Sugar Land, TX 5
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.95
    •  
  • 2126 E Highland Hills Drive Sugar Land, TX 1
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 2210 Sunset Trl Sugar Land, TX 2
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 2011 Highland Hills Drive Sugar Land, TX 3
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1981
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2110 Highland Hills Drive Sugar Land, TX 4
    • 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 1981
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jennifer Weaver
1.713.851.7523
Hometown America Incorporated
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72335057
Last Updated: 01/30/2021
BESbswy