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8743 River Wind Drive Sugar Land, TX 77479

4 Beds 3 Baths 2,437 sqft Built 1996

$292,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $119.82
  • 6 Days on Market
  • MLS # : 25755387
  • Updated Date : 02/05/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,437 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cri Real Estate Services

Listing Agent's Description

Beautiful, Updated David Weekly Plan in highly desirable Greatwood Terrace. Hardwood Floors in main living areas and primary bedroom. High end updates in the kitchen with new gas range, beautiful vent-a-hood, backsplash and lighting. The kitchen also features granite countertops, an island and an open concept with breakfast nook and living room. Large primary suite down with walk in shower, dual vanities and large closet. Game room loft with pre wired surround sound, entry study with French doors. One of the largest yards in Greatwood with sprinkler system, a 19x12 covered back patio and recently installed fence. Upgrades include New roof, double pane windows, HVAC and furnace.

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: Greatwood Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Greatwood Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Campbell Elementary School Primary Regular 701 41 10
Reading Junior High School Middle Regular 1,163 58 10
George Ranch High School High Regular 2,215 112 8

Campbell Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 41
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
 

$262,800$321,200$292,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,014
Property Tax -$586
Property Insurance -$168
HOA -$60
Property Management Fees -$99
CASH FLOW
$82

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$292,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 2.6%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,998

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,0004$2,0105$2,150
$2,150
RENT COMPS ANALYSIS
  • 8743 River Wind Drive Sugar Land, TX 4
    • 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.82
    •  
  • 1719 Wind Trace Cove Sugar Land, TX 1
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1706 Bluebeard Court Sugar Land, TX 2
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1997
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 8611 Green Ash Drive Sugar Land, TX 3
    • 3 beds 2 baths ∙ 2,448 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,448 Sqft ∙ Built 1997
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 8607 Saratoga Drive Sugar Land, TX 5
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1996
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
PROPERTY LISTING DETAILS
Nicole Shields
1.832.465.1985
Cri Real Estate Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25755387
Last Updated: 02/05/2021
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