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1122 Rustic Knolls Drive Katy, TX 77450

4 Beds 4 Baths 2,925 sqft Built 1982

$330,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $112.82
  • 2 Days on Market
  • MLS # : 82922861
  • Updated Date : 03/13/2021 at 13:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,925 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautifully renovated home in the gorgeous community of Nottingham Country, in one of the most desirable sections. Entire home repainted March 2021, this home is move in ready! Double doors lead into a gorgeous formal entrance with high ceilings and mazing windows bringing in so much natural light, large formal dining room leads in a spacious island kitchen and all lower cabinets have pull out drawers!There are five gas burners on the Stainless Steel cook top and double ovens. Large family room with beautiful brick fireplace and beautiful serving bar. Master bedroom is downstairs with oversized master bathroom and walk in closets. Upstairs are 3 spacious bedrooms, and a large gameroom. Beautiful backyard, oversized garage and porte cohere for extra covered parking.

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: 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
Nottingham Country Elementary School Primary Regular 592 43 7
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Nottingham Country Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 43
7
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,146
Property Tax -$710
Property Insurance -$225
HOA -$29
Property Management Fees -$99
CASH FLOW
$171

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.

$330,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.72%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,216

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1253$2,2504$2,3805$2,500
$2,500
RENT COMPS ANALYSIS
  • 1122 Rustic Knolls Drive Katy, TX 4
    • 4 beds 4 baths ∙ 2,925 Sqft ∙ Built 1982 4 beds 4 baths ∙ 2,925 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.81
    •  
  • 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 3
    • 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
Karen Sumner
1.281.301.8598
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82922861
Last Updated: 03/13/2021
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