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1218 Dominion Drive Katy, TX 77450

4 Beds 3 Baths 2,386 sqft Built 1980

$299,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $125.31
  • 2 Days on Market
  • MLS # : 22792293
  • Updated Date : 01/02/2021 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,386 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Storybook Victorian Home in beautiful Nottingham Country subdivision. Charming porch framed in gingerbread trim, surrounded by lush landscaping. The 2nd floor of the home features 2 separate balconies. Enter through wood front door (with ring door bell) opening to stairwell turret surrounded by windows. On right is a large formal dining room & powder room. Follow the entry to a gorgeous Family room/Living room complete w/a cozy fireplace, bar area, builtins, & french doors leading to a & lush back yard. The island kitchen w/granite counters combined w/breakfast area is large w/tons of cabinets and walk-in pantry. The oversized laundry room is conveniently located just off the kitchen. The driveway is extra-long leading to a large 2 car detatched garage. Upstairs offers a lovely Primary bedroom with ensuite bathroom. On the other side of the stair landing are 3 generously sized bedrooms and a secondary bathroom. Hardwood floors downstairs and upstairs create a warm interior.

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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: 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,103
Property Tax -$643
Property Insurance -$188
HOA -$25
Property Management Fees -$99
CASH FLOW
$71

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.

$299,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.71%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,722

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,201

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1303$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 1218 Dominion Drive Katy, TX 2
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.89
    •  
  • 20334 Prince Creek Drive Katy, TX 1
    • 4 beds 4 baths ∙ 2,444 Sqft ∙ Built 1986 4 beds 4 baths ∙ 2,444 Sqft ∙ Built 1986
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 1155 Dominion Drive Katy, TX 3
    • 4 beds 4 baths ∙ 2,440 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,440 Sqft ∙ Built 1988
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 20323 Monkswood Drive Katy, TX 4
    • 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1978 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1978
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 20227 Tilstock Drive Katy, TX 5
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1979
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Suzanne Regan
1.832.795.1459
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22792293
Last Updated: 01/02/2021
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