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1722 Candleston Lane Katy, TX 77450

4 Beds 3 Baths 2,578 sqft Built 2002

$275,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $106.67
  • 2 Days on Market
  • MLS # : 41185877
  • Updated Date : 12/12/2020 at 17:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,578 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jpar - The Sears Group

Listing Agent's Description

This house is priced right and ready for the next owner. It has an island kitchen, formal living/dining combo and large family room. Great Schools and easy access to I-10 for a quick commute. Come see this home before its gone!

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: Stonelodge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Stonelodge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10373320

* 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
Pattison Elementary School Primary Regular 825 53 10
Mcmeans Junior High School Middle Regular 1,081 66 9
Taylor High School High Regular 2,943 156 9

Pattison Elementary School

  • Education Level: Primary
  • # of students: 825
  • # of teachers: 53
10
GreatSchools Rating

Mcmeans Junior High School

  • Education Level: Middle
  • # of students: 1,081
  • # of teachers: 66
9
GreatSchools Rating

Taylor High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,015
Property Tax -$609
Property Insurance -$201
HOA -$35
Property Management Fees -$99
CASH FLOW
$151

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,9003$1,9954$2,1105$2,400
$2,400
RENT COMPS ANALYSIS
  • 1722 Candleston Lane Katy, TX 4
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.82
    •  
  • 1602 Candleston Katy, TX 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2002
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.73
    •  
  • 2023 Highland Bay Court Katy, TX 2
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1999
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 1711 Penmark Lane Katy, TX 3
    • 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2002
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 1626 Penmark Katy, TX 5
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2002
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Christopher Sears
1.281.827.3466
Jpar - The Sears Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41185877
Last Updated: 12/12/2020
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