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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $120.42
- 7 Days on Market
- MLS # : 83909361
- Updated Date : 01/09/2021 at 10:12
CONSTRUCTION
- Beds : 4
- Floor Size : 2,400 sqft
- Baths : 2 full , 1 half
Listing Agent
Real Living Karapasha Realty
Listing Agent's Description
No Flooding per sellers. Location, Location! Located on the curve of a culdesac with no back neighbors. This Charming home is ready for immediate occupancy. New carpeting just installed pre-listing & some fresh paint. Updated kitchen with quartz counters, subway tile backsplash and SS appliances. Some updated lighting. Study or formal living area with wall of built ins and a cozy fireplace. Large family rm with large windows overlooking the peaceful backyard. Built ins and fireplace create an inviting space. The master is located upstairs with a luxurious master bath. Recent tile in master bath and secondary bath. The 3rd floor is an awesome 4th bedroom or gameroom. Walking distance to the elementary school and parks. George bush park entrance just a few blocks away. Nottingham park just across street from the neighborhood. Excellent schools, easy access to major roads, shopping, churches etc. This home has it all. Pool sized yard with pretty brick back fence. Pride of ownership!
SEE MORE
- 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: University Park West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: University Park West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,030 |
| EXPENSES | Loan Payment | -$1,004 |
| Property Tax | -$624 | |
| Property Insurance | -$189 | |
| HOA | -$83 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$31
|
||
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.
$289,000
PROJECTED PRICE
$2,030
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 4.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,335
LOAN DETAILS
$1,004
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
2.42
YEARS SAVED
$5,004
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,030
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$2,004
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
20007 Polly Creek Way Katy, TX 5
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $2,030
- $0.85
-
2002 Highland Bay Court Katy, TX 1
- 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 1999
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LEASED 07/23/20- Rent
- Rent Per SQFT
- $1,895
- $0.83
-
1906 Emerald Green Drive Houston, TX 2
- 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 1992
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,900
- $0.82
-
1810 Fantasy Woods Drive Houston, TX 3
- 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1994
![property image]()
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,975
- $0.87
-
1711 Penmark Lane Katy, TX 4
- 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2002
![property image]()
LEASED 05/07/20- Rent
- Rent Per SQFT
- $1,995
- $0.82
PROPERTY LISTING DETAILS
1.281.944.3640
Real Living Karapasha Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 83909361
Last Updated: 01/09/2021
