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7403 Cherry Brook Court Sugar Land, TX 77479

3 Beds 3 Baths 2,215 sqft Built 1994

$287,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $129.57
  • 2 Days on Market
  • MLS # : 17869765
  • Updated Date : 07/12/2021 at 20:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,215 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zhubin Zhang

Listing Agent's Description

A beautiful 3 bedrooms & 2.5 bath home with study and high ceiling, located in convenient Master Plan Community with splash, tennis, golf, walking trails, on a cul-de-sac street! Open floor plan with high ceilings and LOTS of natural light throughout! This home offers dinning room, family room, study w/ built-ins, upgraded island kitchen with granite counter top, large master bedroom and bathroom w/ double sinks. The full bath on second floor was just renovated in 2021. NEW FLOORS installed in 2020 on master bed room, stairs, game room and all bed rooms in upstairs. 2017 AC outside unit and 2021 coils. Large secondary bedrooms, game room, covered patio. Zoned to excellent schools, several minutes to 12 minutes drive to many amenities such as groceries, restaurants, theaters, hospitals, first colony mall, sugar land town center, etc. Easy access to 69 and 99 highways! Buyers should verify room dimensions by their selves. PLEASE MAKE APPOINTMENT TO SEE ASAP!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greatwood Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Greatwood Crossing

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
Dickinson Elementary School Primary Regular 560 30 10
Reading Junior High School Middle Regular 1,163 58 10
George Ranch High School High Regular 2,215 112 8

Dickinson Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 30
10
GreatSchools Rating

Reading Junior High School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 58
10
GreatSchools Rating

George Ranch High School

  • Education Level: High
  • # of students: 2,215
  • # of teachers: 112
8
GreatSchools Rating
 

$258,300$315,700$287,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$997
Property Tax -$576
Property Insurance -$155
HOA -$71
Property Management Fees -$99
CASH FLOW
$12

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.

$287,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.5%
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$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9003$1,9104$1,9505$2,050
$2,050
RENT COMPS ANALYSIS
  • 7403 Cherry Brook Court Sugar Land, TX 3
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.86
    •  
  • 7510 Timber Ridge Trail Sugar Land, TX 1
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 1994
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
  • 6930 Shady Lane Sugar Land, TX 2
    • 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1992
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 619 Deer Hollow Drive Sugar Land, TX 4
    • 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 1999
    LEASED 07/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 7514 Cherry Brook Court Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 1995
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
PROPERTY LISTING DETAILS
Zhubin Zhang
1.281.515.2651
Zhubin Zhang
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17869765
Last Updated: 07/12/2021
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