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1910 Evergreen Bay Lane Katy, TX 77494

4 Beds 3 Baths 2,714 sqft Built 2018

$330,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $121.59
  • 3 Days on Market
  • MLS # : 14373768
  • Updated Date : 01/23/2021 at 15:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,714 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nicole Freer Group

Listing Agent's Description

GRAND OPENING! OPEN HOUSE SATURDAY JANUARY 23RD AND SUNDAY JANUARY 24TH FROM 12:00PM-4:00PM! Welcome home to 1910 Evergreen Bay located in the community of Young Ranch and zoned to Katy ISD! This stunning Beazer home features 4 bedrooms, 2 full baths, 1 half bath and a 3 car garage. As you open the front door you are welcomed by the private study. The stunning kitchen features white stained cabinetry, oversized island, SS appliances and Butler's pantry. The family room includes a gorgeous fireplace with mantel, soaring high ceilings and large windows allowing the natural light to shine through. End your days in the spacious master suite. The master bath includes a large walk-in shower, double sinks and walk-in closet. Come upstairs where you will find 3 secondary bedrooms and media room. Don't forget to step out back for a view of the covered patio and backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today!

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

Zip Code: 77494

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k403k

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

Zip Code: 77494

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10372506

* 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
Huggins Elementary School Primary Regular 637 35 7
Briscoe Junior High School Middle Regular 1,191 65 8
Foster High School High Regular 2,130 102 8

Huggins Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 35
7
GreatSchools Rating

Briscoe Junior High School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 65
8
GreatSchools Rating

Foster High School

  • Education Level: High
  • # of students: 2,130
  • # of teachers: 102
8
GreatSchools Rating
 

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

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,146
Property Tax -$679
Property Insurance -$184
HOA -$91
Property Management Fees -$99
CASH FLOW
$112

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

$2,310

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$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

3.5

YEARS SAVED

$10,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3103$2,3254$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 1910 Evergreen Bay Lane Katy, TX 2
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.85
    •  
  • 29019 Blue Finch Court Katy, TX 1
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 2310 Falcon Brook Drive Katy, TX 3
    • 4 beds 4 baths ∙ 2,863 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,863 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.81
    •  
  • 1210 Posey Ridge Lane Katy, TX 4
    • 3 beds 2 baths ∙ 2,657 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,657 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 2223 Falcon Brook Drive Katy, TX 5
    • 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 2016
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nicole Freer
1.832.236.6438
Nicole Freer Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 14373768
Last Updated: 01/23/2021
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