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1215 Park Royale Court Katy, TX 77450

3 Beds 2 Baths 1,812 sqft Built 1982

$233,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $128.59
  • 2 Days on Market
  • MLS # : 35608168
  • Updated Date : 01/09/2021 at 13:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full
Listing Agent

Fritz & Company Realty

Listing Agent's Description

WoW - Stop the car! Here is the answer to our Prayers. What a beautiful home on a wonderful cul-de-sac WITH A POOL... and updated! GORGEOUS kitchen - with breakfast area on one side and breakfast bar on the other. Spacious family room with coffered ceilings plus BiG windows overlooking the pool and patio areas! Fresh paint & carpet. This is soooo nice - then there's.... the master bedroom, with it's absolutely "to-die-for" master bathroom. Completely upgraded Kitchen and bathrooms like in a magazine ad! Perfectly proportioned rooms with nice views and a kid friendly cul-de-sac location. You are going to love it.... nice inside & out, great location + a reasonably priced home with a POOL on the South I-10 side of our Katy area! Call YOUR AGENT right away to take a look!

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: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9442063

* 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
 

$209,700$256,300$233,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$809
Property Tax -$497
Property Insurance -$150
HOA -$31
Property Management Fees -$99
CASH FLOW
$43

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.

$233,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.8%
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

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$67,495

INVESTMENT

$67,495

Down Payment
$58,250
Rehab Estimate
$5,750
Closing Costs
$3,495

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$809

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,250
Loan Amount $174,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5753$1,6004$1,6305$1,695
$1,695
RENT COMPS ANALYSIS
  • 1215 Park Royale Court Katy, TX 4
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.90
    •  
  • 21230 Park Run Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 20811 Westgreen Court Katy, TX 2
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1978
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.91
    •  
  • 1111 Park Wind Dr Katy, TX 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1983
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 21203 Park Valley Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1986
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
PROPERTY LISTING DETAILS
J. Fritz Ruisinger
1.832.419.6161
Fritz & Company Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35608168
Last Updated: 01/09/2021
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