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5911 Berkshire Ridge Drive Sugar Land, TX 77479

4 Beds 3 Baths 2,757 sqft Built 1998

$319,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $115.71
  • 28 Days on Market
  • MLS # : 96744103
  • Updated Date : 12/14/2020 at 20:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,757 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nb Elite Realty

Listing Agent's Description

Stunning home in the desirable community of New Territory. New roof, recent water heater, new downstairs AC unit, new water softener and filtration system. Enter the house and be greeted by the beautiful chandelier and soaring high ceiling.Chef's kitchen with island and granite countertops. Large size master bedroom downstairs , walk-in closet, master bathroom with double sink, separate shower and garden tub. Large game room upstairs, secondary bathroom was remodeled. Detached double car garage with custom cabinets. Sprinkler system and iron gate in driveway. Easy access to I59 and 99.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Riverpark

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Riverpark

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
Hutchison Elementary School Primary Regular 793 45 8
Lamar Junior High School Middle Regular 860 50 6
Lamar Consolidated High School High Regular 1,513 85 3

Hutchison Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 45
8
GreatSchools Rating

Lamar Junior High School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 50
6
GreatSchools Rating

Lamar Consolidated High School

  • Education Level: High
  • # of students: 1,513
  • # of teachers: 85
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,108
Property Tax -$597
Property Insurance -$186
HOA -$71
Property Management Fees -$99
CASH FLOW
$39

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.

$319,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$2,1005$2,450
$2,450
RENT COMPS ANALYSIS
  • 5911 Berkshire Ridge Drive Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 2606 Willow Springs Lane Sugar Land, TX 1
    • 3 beds 3 baths ∙ 2,598 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,598 Sqft ∙ Built 2001
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 2123 Hill Canyon Court Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1999
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 2410 Pine Shadows Drive Sugar Land, TX 3
    • 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.71
    •  
  • 1522 Ralston Branch Way Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
PROPERTY LISTING DETAILS
Angela Zapata
1.832.807.3152
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 #: 96744103
Last Updated: 12/14/2020
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