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21319 Somerset Park Lane Katy, TX 77450

4 Beds 2 Baths 1,913 sqft Built 2001

INVESTimate

$199,000

List Price

$1,680

$1,512 - $1,848

Rent Est.

$58,485

Investment Est.

$206,920 ( +3.98%) 1 YR EST. FORECAST

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AVAILABLE

1 YEAR
Gross Yield	10.13%
NOI	$7,197

15 YEAR
Yield	3.92%
Appreciation	2.99%
TOTAL RETURN	15.17%

PROPERTY INFO

August 24, 2020 RECENTLY ADDED

FACTS

Built In 2001
Price/Sqft : $104.03
4 Days on Market
MLS # : 7419154
Updated Date : 08/25/2020 at 23:30

CONSTRUCTION

Beds : 4
Floor Size : 1,913 sqft
Baths : 2 full

Listing Agent

Champions Real Estate Group

Listing Agent's Description

Never flooded. Charming one story with No back neighbors. Lead glass front door enters in formal living(or dining) and open kitchen to living room area. All laminate floors through whole house. No Carpet. Master room with huge walking closet and Master bath with separate shower booth and large garden tub. Excellent katy school district and good location easy access to Westpark Toll road and Grand Pkwy.

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21319 Somerset Park Ln

Katy, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Zip Code: 77450

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

Zip Code: 77450

* 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

GreatSchools Rating

Beck Junior High School

Education Level: Middle
# of students: 1,063
# of teachers: 64

GreatSchools Rating

Cinco Ranch High School

Education Level: High
# of students: 3,171
# of teachers: 174

GreatSchools Rating

FINANCIALS

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$179,100$218,90000$199,000

PURCHASE PRICE

$1,512$1,84800$1,680

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,680
EXPENSES	Loan Payment	-$734
	Property Tax	-$513
	Property Insurance	-$138
	HOA	-$91
	Property Management Fees	-$99



CASH FLOW $105

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.

$199,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	3.98%
Maintenance Year (1-5)	8.00%
Vacancy	9.28%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$58,485

Down Payment	$49,750
Rehab Estimate	$5,750
Closing Costs	$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$49,750
Loan Amount	$149,250

See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,680
LIST RENT
$0.88
LIST RENT PER SQFT

$1,679
COMP ESTIMATED VALUE
$0.88
COMP AVG. RENT PER SQFT

Comps Range

$1,625

1$1,6252$1,6753$1,6804$1,7005$1,700

$1,700

RENT COMPS ANALYSIS

1,913
PROPERTY SQFT
$0.88
AVG RENT PER SQFT
$1,679
ESTIMATED VALUE
$1,680
LIST RENT

21319 Somerset Park Lane Katy, TX 2

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001
Price

Price Per SQFT

$199,000

$104.03
20842 Avery Cove Lane Katy, TX 1

4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2006
SOLD 02/25/20
Price

Price Per SQFT

$185,000

$90.02
21026 Somerset Park Lane Katy, TX 3

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2002
SOLD 03/26/20
Price

Price Per SQFT

$204,000

$106.64
6403 Faulkner Ridge Drive Katy, TX 4

3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1995
SOLD 08/06/20
Price

Price Per SQFT

$235,000

$129.12
20915 Avery Cove Lane Katy, TX 5

3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2006
SOLD 05/29/20
Price

Price Per SQFT

$240,000

$130.29

21319 Somerset Park Lane Katy, TX 3

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001
Rent

Rent Per SQFT

$1,680

$0.88
21226 Somerset Park Lane Katy, TX 1

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001
LEASED 01/21/20
Rent

Rent Per SQFT

$1,625

$0.85
21211 Somerset Park Lane Katy, TX 2

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001
LEASED 08/14/20
Rent

Rent Per SQFT

$1,675

$0.88
21215 Barker Canyon Lane Katy, TX 4

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2001
LEASED 06/04/20
Rent

Rent Per SQFT

$1,700

$0.89
21026 Somerset Park Lane Katy, TX 5

4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2002
LEASED 06/15/20
Rent

Rent Per SQFT

$1,700

$0.89

PROPERTY LISTING DETAILS

Seungmi Kang
1.281.658.3806
Champions Real Estate Group

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7419154
Last Updated: 08/25/2020

21319 Somerset Park Lane Katy, TX 77450

INVESTimate

$199,000

$1,680

$58,485

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Creech Elementary School

Beck Junior High School

Cinco Ranch High School

FINANCIALS

$179,100$218,90000$199,000

$1,512$1,84800$1,680

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$199,000

$1,680

0.84%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$734

3.67

$7,982

$199,000

$104.03

$218,115

$114.02

COMPS RANGE

PRICE COMPS ANALYSIS

$1,680

$0.88

$1,679

$0.88

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS