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21315 Finbury Oak Lane Katy, TX 77449

4 Beds 3 Baths 2,094 sqft Built 2011

$223,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $106.49
  • 3 Days on Market
  • MLS # : 74166537
  • Updated Date : 02/13/2021 at 12:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,094 sqft
  • Baths : 3 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Morton Ranch Two story 4 bedroom 3 bath upstairs large game room 2094 Sq. Ft. Back yard is large enough for a pool. Great floor plan in the coveted Katy School District. Conveniently located near I-10 West, Grand Parkway, Shopping centers, Hospitals, Restaurants, This property is sold as is. Needs a little TLC.

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

Zip Code: 77449

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Zip Code: 77449

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8351867

* 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
Morton Ranch Elementary School Primary Regular 899 65 6
Morton Ranch Junior High School Middle Regular 1,190 82 6
Morton Ranch High School High Regular 3,378 201 6

Morton Ranch Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 65
6
GreatSchools Rating

Morton Ranch Junior High School

  • Education Level: Middle
  • # of students: 1,190
  • # of teachers: 82
6
GreatSchools Rating

Morton Ranch High School

  • Education Level: High
  • # of students: 3,378
  • # of teachers: 201
6
GreatSchools Rating
 

$200,700$245,300$223,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$775
Property Tax -$490
Property Insurance -$169
HOA -$48
Property Management Fees -$99
CASH FLOW
$60

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.

$223,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

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$64,845

INVESTMENT

$64,845

Down Payment
$55,750
Rehab Estimate
$5,750
Closing Costs
$3,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,750
Loan Amount $167,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6403$1,6504$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 21315 Finbury Oak Lane Katy, TX 2
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.78
    •  
  • 21335 Finbury Oaks Lane Katy, TX 1
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2010
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 21315 Beacon Springs Lane Katy, TX 3
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2012
    property image
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 21319 Finbury Oaks Lane Katy, TX 4
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2012
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.78
    •  
  • 2638 Ensbrook Meadow Lane Katy, TX 5
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2012
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
PROPERTY LISTING DETAILS
Terry Ely
1.281.598.5800
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 74166537
Last Updated: 02/13/2021
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