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20703 Park Bend Drive Katy, TX 77450

4 Beds 3 Baths 2,731 sqft Built 1983

$329,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $120.80
  • 5 Days on Market
  • MLS # : 84684115
  • Updated Date : 01/07/2021 at 10:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,731 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Homes Realty

Listing Agent's Description

Welcome Home! Spacious 4BR Home with Pool! This home features tile flooring in entry & all wet areas. Formal dining room with crown molding. Spacious living room that is now painted ecru on wood paneling. New wood flooring in living room and dining room. Kitchen comes with granite counter tops, tile backsplash and breakfast bar. Large Master on 1st floor with walk in closet & built in shelving. Game Room upstairs as well as nice size secondary rooms. Relax out back in the Pool! Plenty of backyard space & detached 2 car garage. Come See Today, You don't want to miss out on this home!

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: Kelliwood Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k401k

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

Neighborhood: Kelliwood Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10372711

* 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
Hayes Elementary School Primary Regular 701 48 8
Mcmeans Junior High School Middle Regular 1,081 66 9
Taylor High School High Regular 2,943 156 9

Hayes Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 48
8
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,146
Property Tax -$713
Property Insurance -$212
HOA -$25
Property Management Fees -$99
CASH FLOW
$166

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.

$329,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) -1.3%
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$0.0$5.0k$10k$15k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

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 $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,925

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$2,0004$2,0005$2,360
$2,360
RENT COMPS ANALYSIS
  • 20703 Park Bend Drive Katy, TX 5
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.86
    •  
  • 2110 Highland Bay Court Katy, TX 1
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 1999
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 20327 Longspring Drive Katy, TX 2
    • 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 1995
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.64
    •  
  • 20714 Autumn Terrace Lane Katy, TX 3
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2002
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 2130 Autumn Fern Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1996
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jacqueline Wallman
1.281.646.9929
Texas Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84684115
Last Updated: 01/07/2021
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