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19711 Summerlin Drive Katy, TX 77449

4 Beds 3 Baths 2,265 sqft Built 2006

$210,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $92.72
  • 5 Days on Market
  • MLS # : 16891288
  • Updated Date : 01/15/2021 at 10:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,265 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Monarch Team

Listing Agent's Description

Come check out this Ashton Wood built home located in Plantation Lakes! This wonderful has 4 bedrooms, 2.1 bath and a spacious back yard perfect for entertaining. Home is Priced to sell ! Sold in " as is " condition. Click the video link to view more of this property. Call to make appointment today

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: Plantation Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k301k

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

Neighborhood: Plantation Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8161867

* 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
Emery Elementary School Primary Regular 913 54 NA
Thornton Middle School Middle Regular 1,391 92 6
Cypress Lakes High School High Regular 3,599 210 5

Emery Elementary School

  • Education Level: Primary
  • # of students: 913
  • # of teachers: 54
NA
GreatSchools Rating

Thornton Middle School

  • Education Level: Middle
  • # of students: 1,391
  • # of teachers: 92
6
GreatSchools Rating

Cypress Lakes High School

  • Education Level: High
  • # of students: 3,599
  • # of teachers: 210
5
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$729
Property Tax -$573
Property Insurance -$180
HOA -$31
Property Management Fees -$99
CASH FLOW
$77

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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-$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$6,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6493$1,6904$1,8055$1,899
$1,899
RENT COMPS ANALYSIS
  • 19711 Summerlin Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 5818 Plantation Crest Drive Katy, TX 1
    • 3 beds 2 baths ∙ 2,254 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,254 Sqft ∙ Built 2004
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 19710 Cozy Cabbin Drive Katy, TX 2
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2005
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.77
    •  
  • 19623 Summerlin Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2006
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,805
    • $0.75
    •  
  • 19710 Coldfield Drive Katy, TX 5
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.77
    •  
PROPERTY LISTING DETAILS
Yvonne Cazares
1.713.894.0167
The Monarch Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16891288
Last Updated: 01/15/2021
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