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2217 Georgetown Street Katy, TX 77493

4 Beds 2 Baths 1,970 sqft Built 1982

$226,500

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $114.97
  • 5 Days on Market
  • MLS # : 95041338
  • Updated Date : 01/21/2021 at 12:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,970 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

This four bedroom home is a rare find in the quiet subdivision of Town Park. This home has lots to see including a bonus room with a wood burning fireplace. BRAND NEW 14 Seer AC and WATER HEATER 01/2021, new carpet and new 50 year roof 11/2020 (valued at $18k with 10 year transferable warranty), fresh coat of paint throughout the house 10/2020, showers updated with tile 06/2020. As an added bonus - NO HOA and has never flooded. This one is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Town Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $102k305k

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

Neighborhood: Town Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8352063

* 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
Hutsell Elementary School Primary Regular 815 62 5
Katy Junior High School Middle Regular 1,288 86 7
Katy High School High Regular 3,065 176 7

Hutsell Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 62
5
GreatSchools Rating

Katy Junior High School

  • Education Level: Middle
  • # of students: 1,288
  • # of teachers: 86
7
GreatSchools Rating

Katy High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 176
7
GreatSchools Rating
 

$203,850$249,150$226,500

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$787
Property Tax -$498
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
$6

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.

$226,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,773

INVESTMENT

$65,773

Down Payment
$56,625
Rehab Estimate
$5,750
Closing Costs
$3,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$787

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,625
Loan Amount $169,875
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6254$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2217 Georgetown Street Katy, TX 2
    • 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 5240 Pinewood Terrace Katy, TX 1
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 5421 Yale Drive Katy, TX 3
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1994
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.82
    •  
  • 5901 Pine Meadows Drive Katy, TX 4
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1994
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 5426 Yale Drive Katy, TX 5
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1994
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tobi Evans
1.281.997.0726
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95041338
Last Updated: 01/21/2021
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