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1406 S Maple Drive Katy, TX 77493

3 Beds 2 Baths 1,490 sqft Built 2012

$200,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $134.23
  • 2 Days on Market
  • MLS # : 29385913
  • Updated Date : 07/12/2021 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,490 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Signature

Listing Agent's Description

One-story, 3 bedroom home with a charming front porch situated on a corner lot. Recent paint, carpet, laminate wood floors, and so much more! This home boasts a front study with classic French doors and modern toned flooring. The stylish laminate wood floors carry into the family room, hallways, and primary bedroom. Open family room with tray ceiling with efforless flow into the kitchen and other living areas. Kitchen with breakfast bar, ample granite counter space, warm cabinetry, pantry, and black appliances. Adjacent breakfast area for all your dining needs leads to the great backyard with a covered back patio that you will be sure to enjoy! Owner's retreat with tray ceiling, walk in closet, and ensuite bath with double sinks, separate shower, and tub. Spacious secondary bedrooms with shared full bathroom. Great location zoned to Katy ISD with quick access to I-10, shopping, dining, and entertainment!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stone Crest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Stone Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9902063

* 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
King Elementary School Primary Regular 1,290 85 6
Katy Junior High School Middle Regular 1,288 86 7
Morton Ranch High School High Regular 3,378 201 6

King Elementary School

  • Education Level: Primary
  • # of students: 1,290
  • # of teachers: 85
6
GreatSchools Rating

Katy Junior High School

  • Education Level: Middle
  • # of students: 1,288
  • # of teachers: 86
7
GreatSchools Rating

Morton Ranch High School

  • Education Level: High
  • # of students: 3,378
  • # of teachers: 201
6
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$695
Property Tax -$470
Property Insurance -$128
HOA -$35
Property Management Fees -$99
CASH FLOW
$164

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.

$200,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,6504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1406 S Maple Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.07
    •  
  • 24515 Hampton Lakes Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2007
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 1411 S Maple Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2012
    property image
    LEASED 07/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 1931 Boren Drive Katy, TX 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 1251 S Maple Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2015
    property image
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Liza Casillas
1.713.252.3862
Keller Williams Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 29385913
Last Updated: 07/12/2021
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