Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

21439 Park Orchard Drive Katy, TX 77450

3 Beds 2 Baths 1,284 sqft Built 1983

$200,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $155.76
  • 2 Days on Market
  • MLS # : 47376254
  • Updated Date : 07/13/2021 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Century 21 Western Realty

Listing Agent's Description

Beautiful 3 bedroom home with a large backyard. Large living room with vaulted ceilings and fireplace. Tile floors in the kitchen, bathrooms and living areas. Laminate wood floors in the bedrooms. Open kitchen with gas range.

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 Elementary School Primary Regular 850 65 6
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Memorial Parkway Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 65
6
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$695
Property Tax -$427
Property Insurance -$114
HOA -$31
Property Management Fees -$99
CASH FLOW
$124

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.

$200,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.75%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$10,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4754$1,4905$1,550
$1,550
RENT COMPS ANALYSIS
  • 21439 Park Orchard Drive Katy, TX 4
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.16
    •  
  • 1250 Summer Park Lane Katy, TX 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1981
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 21227 Park Mount Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1982
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.03
    •  
  • 22023 Singing Spurs Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1978
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.07
    •  
  • 2306 Sand Plum Drive Katy, TX 5
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1984
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
PROPERTY LISTING DETAILS
Andrew Trainer
1.281.748.7401
Century 21 Western Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47376254
Last Updated: 07/13/2021
BESbswy