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21435 Park Run Drive Katy, TX 77450

5 Beds 3 Baths 2,339 sqft Built 1980

$249,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $106.46
  • 2 Days on Market
  • MLS # : 53656036
  • Updated Date : 12/05/2020 at 16:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,339 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

HGTV home in Katy area. Beautiful house with master down and also office space that can be turned into bedroom on the first floor. Tons of upgrade such as new kitchen's soft closed doors, farmhouse stainless sink, Carrera quartz countertop, updated both bathroom, his and hers sink & closet, Samsung refrigerator family hub black stainless, Samsung 30 flex duo slide in stove (smart phone controlled to start cooking), Viking dishwasher, outdoor kitchen with new grill for private party or gathering, and many more. Washer, dryer, & some furniture are included in the sale. Please check the attachment. Easy access to Hwy. 99 & Katy Freeway. Close to major restaurants and shopping center. Schedule your showing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9442063

* 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
Memorial Parkway Junior High School Primary Regular 878 54 8
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Memorial Parkway Junior High School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Memorial Parkway Junior High School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 156
9
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$919
Property Tax -$532
Property Insurance -$185
HOA -$29
Property Management Fees -$99
CASH FLOW
$26

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.

$249,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.8%
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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,9003$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 21435 Park Run Drive Katy, TX 1
    • 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.77
    •  
  • 20703 Fawnbrook Court Katy, TX 2
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1997
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 1702 Park Ridge Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1993
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 1335 Westgreen Boulevard Katy, TX 4
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 1980
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 21203 Park Brook Drive Katy, TX 5
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1979
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Yohan Adhitama
1.832.646.2461
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 #: 53656036
Last Updated: 12/05/2020
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