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4610 Sunrise Drive Missouri City, TX 77459

3 Beds 3 Baths 2,613 sqft Built 1994

$259,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $99.46
  • 4 Days on Market
  • MLS # : 98152777
  • Updated Date : 02/19/2021 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,613 sqft
  • Baths : 3 full
Listing Agent

Re/max Southwest

Listing Agent's Description

Beautiful 2 story home w/ high ceiling in den. Large island ktn w/ granite counter, s.s. undermounted sink, goose neck faucet, glass brick backsplash, smooth cooktop, built-in microwave, s.s. dshwsher... all replaced. carpet & laminated wood floor replaced within 1-3 yrs. Large covered patio w/spa & wood deck. Back fenc replaced. Large mstr. w/ luxury bath, jacuzzi, his & her vanity, recent sink faucets, sep. shower & huge walk-in. Venetian blinds thru out. Almost all lights replaced recently. Foundation just repaired w/ lifetime transferrable warranty.

SEE MORE

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: Sunrise Bay at Lake Olympia

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Sunrise Bay at Lake Olympia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Palmer Elementary School Primary Regular 590 42 6
Lake Olympia Middle School Middle Regular 1,112 71 4
Elkins High School High Regular 2,063 108 8

Palmer Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 42
6
GreatSchools Rating

Lake Olympia Middle School

  • Education Level: Middle
  • # of students: 1,112
  • # of teachers: 71
4
GreatSchools Rating

Elkins High School

  • Education Level: High
  • # of students: 2,063
  • # of teachers: 108
8
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$903
Property Tax -$642
Property Insurance -$178
HOA -$68
Property Management Fees -$99
CASH FLOW
$40

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.

$259,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.7%
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-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,979

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$1,9803$2,0004$2,0505$2,050
$2,050
RENT COMPS ANALYSIS
  • 4610 Sunrise Drive Missouri City, TX 1
    • 3 beds 3 baths ∙ 2,613 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,613 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.74
    •  
  • 1643 Pebble Brook Missouri City, TX 2
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2002
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.72
    •  
  • 1915 Crescent Oak Drive Missouri City, TX 3
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1997
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 2115 Lakeshore Forest Court Missouri City, TX 4
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2004
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.78
    •  
  • 4415 Lakeshore Forest Drive Missouri City, TX 5
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.77
    •  
PROPERTY LISTING DETAILS
K.c. Lam
1.281.265.4106
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 #: 98152777
Last Updated: 02/19/2021
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