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1046 Shillington Drive Katy, TX 77450

4 Beds 3 Baths 2,940 sqft Built 1982

$295,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $100.34
  • 2 Days on Market
  • MLS # : 83947483
  • Updated Date : 01/16/2021 at 21:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,940 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 2-story home in South Katy, in prestigious sought-after Nottingham Country and zoned to award-winning Katy ISD Schools. 4 Bedrooms, 3.5 Bathrooms, Formal Dining, Living with fireplace, Study and more. Tile flooring and walnut wood study/dining, kitchen with granite counters and breakfast area. Large primary room with dual sinks and separate shower. Lots of storage. Large front yard with gorgeous oak tree, covered patio, and it backs to a greenbelt. You know what that means--no neighbors on the back of the house. Literally within minutes of I-10 and other major thoroughfares, shopping and entertainment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Nottingham Country

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k352k

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

Neighborhood: Nottingham Country

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10372340

* 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
Memorial Parkway Junior High School Primary Regular 878 54 8
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Memorial Parkway Junior High School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Memorial Parkway Junior High School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 156
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,025
Property Tax -$635
Property Insurance -$226
HOA -$25
Property Management Fees -$99
CASH FLOW
$211

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.

$295,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1253$2,2204$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1046 Shillington Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.76
    •  
  • 20514 Hampshire Rocks Drive Katy, TX 1
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1990
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.74
    •  
  • 1519 Hannington Drive Katy, TX 2
    • 4 beds 4 baths ∙ 2,994 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,994 Sqft ∙ Built 1983
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.71
    •  
  • 1406 Rustic Knolls Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1982
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.78
    •  
  • 910 Caswell Court Katy, TX 5
    • 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 1983 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 1983
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Gina Arriondo
1.281.702.9200
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83947483
Last Updated: 01/16/2021
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