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414 Mill Place Court Sugar Land, TX 77498

4 Beds 3 Baths 2,772 sqft Built 1987

$325,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $117.24
  • 7 Days on Market
  • MLS # : 21478218
  • Updated Date : 01/22/2021 at 11:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,772 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty -sw

Listing Agent's Description

Beautiful brick 4 bedroom, 2 1/2 bath located in the highly desirable Sugar Mill subdivision. This is a 2 story house with a staircase located in the grand entrance and a 2nd staircase from the kitchen. The 1st floor features a den/study/library off the big living room which contains high vaulted ceilings. The kitchen contains a big walk-in pantry, island with cooktop and lots of cabinets with a dining room open to the kitchen. The huge primary bedroom is located on the 1st floor with an attached bathroom containing a whirlpool/jetted tub, separate shower and double sinks with a vanity area. A half bathroom by the front entrance completes the 1st floor. The 2nd floor contains 3 big bedrooms along with a 2nd full bath. Also, the laundry room and attic storage are located upstairs. This property also has an attached 2 car garage with an attached Porte-Cochere, sprinkler system throughout both the front and back yards, and a huge side yard and backyard with a covered deck.

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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: Sugar Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Sugar Mill

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
Sugar Mill Elementary School Primary Regular 652 43 8
Sugar Land Middle School Middle Regular 1,222 67 7
Kempner High School High Regular 2,397 124 7

Sugar Mill Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 43
8
GreatSchools Rating

Sugar Land Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 67
7
GreatSchools Rating

Kempner High School

  • Education Level: High
  • # of students: 2,397
  • # of teachers: 124
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,129
Property Tax -$608
Property Insurance -$187
Property Management Fees -$99
CASH FLOW
$87

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.

$325,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,238

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,1104$2,3005$2,560
$2,560
RENT COMPS ANALYSIS
  • 414 Mill Place Court Sugar Land, TX 3
    • 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.76
    •  
  • 1151 Mariner Cove Sugar Land, TX 1
    • 3 beds 3 baths ∙ 2,423 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,423 Sqft ∙ Built 1992
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.78
    •  
  • 14123 Lake Trail Drive Sugar Land, TX 2
    • 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 1992
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.78
    •  
  • 511 Mill Place Court Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 1984
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 14203 Alamosa Court Sugar Land, TX 5
    • 4 beds 4 baths ∙ 3,010 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,010 Sqft ∙ Built 2003
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.85
    •  
PROPERTY LISTING DETAILS
Stephen Adams
1.832.609.2182
Keller Williams Realty -sw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21478218
Last Updated: 01/22/2021
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