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19743 Twin Canyon Court Katy, TX 77450

4 Beds 3 Baths 2,352 sqft Built 1999

$245,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $104.17
  • 7 Days on Market
  • MLS # : 79889075
  • Updated Date : 11/24/2020 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,352 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty, Inc.

Listing Agent's Description

The home of your dreams!! Private community with manned entry gate, community hike-bike trails, club room gym, pools, covered basketball, tennis courts. Near the West Park Tollway zoned to award-winning Katy ISD!! Cute one-story home with 4 large bedrooms, 2.5 bathrooms and a 2 car attached garage. Move-in ready!! Granite countertops. Tiled wet areas. Carpet staircase and upstairs. This one should not be missed!!! From Community website "football/soccer field, volleyball court, jogging/walking track, covered playground equipment, and four pavilions with picnic tables and grills. Our bicycle lane on Canyon Gate Blvd is an added incentive to get a “little” exercise. A beautiful clubhouse, located in the recreation building, can be reserved and rented for private parties. All this inside the gates of your own community. Enjoy the amenities of Canyon Gate at Cinco Ranch: Tennis, Pool, Playground, Basketball, Picnic Area.

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10372063

* 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
Creech Elementary School Primary Regular 834 57 10
Beck Junior High School Middle Regular 1,063 64 9
Cinco Ranch High School High Regular 3,171 174 9

Creech Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 57
10
GreatSchools Rating

Beck Junior High School

  • Education Level: Middle
  • # of students: 1,063
  • # of teachers: 64
9
GreatSchools Rating

Cinco Ranch High School

  • Education Level: High
  • # of students: 3,171
  • # of teachers: 174
9
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$904
Property Tax -$511
Property Insurance -$163
HOA -$102
Property Management Fees -$99
CASH FLOW
$61

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.

$245,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7603$1,8404$1,9455$2,000
$2,000
RENT COMPS ANALYSIS
  • 19743 Twin Canyon Court Katy, TX 3
    • 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.78
    •  
  • 6319 Bear Canyon Court Katy, TX 1
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1999
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 6218 Presidio Canyon Drive Katy, TX 2
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1999
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.77
    •  
  • 6235 Clear Canyon Drive Katy, TX 4
    • 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.86
    •  
  • 6230 Canyon Rock Way Katy, TX 5
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1999
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jared English
1.866.599.5601
Congress Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 79889075
Last Updated: 11/24/2020
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