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22510 Kenlake Drive Katy, TX 77450

4 Beds 2 Baths 2,000 sqft Built 1985

$225,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $112.50
  • 3 Days on Market
  • MLS # : 13285006
  • Updated Date : 03/27/2021 at 12:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Premier Realty

Listing Agent's Description

Beautifully updated, single story, ranch style home located in the well-established neighborhood of Creekstone offering soaring ceilings, brick fireplace, gorgeous wood flooring, granite counters, open floor plan, spacious bedrooms, low HOA, low taxes, and zoned to Katy ISD schools! HVAC condenser replaced in 2019. No flooding!

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: Creekstone

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Neighborhood: Creekstone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9481867

* 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
Cimarron Elementary School Primary Regular 664 47 7
West Memorial Junior High School Middle Regular 756 53 6
Katy High School High Regular 3,065 176 7

Cimarron Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 47
7
GreatSchools Rating

West Memorial Junior High School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 53
6
GreatSchools Rating

Katy High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$782
Property Tax -$480
Property Insurance -$162
HOA -$33
Property Management Fees -$99
CASH FLOW
$134

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.

$225,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$11,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6904$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 22510 Kenlake Drive Katy, TX 3
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.85
    •  
  • 22406 Kenlake Drive Katy, TX 1
    • 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1983
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1039 Red Rock Canyon Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1978
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1211 Hidden Canyon Road Katy, TX 4
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1985
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 22514 Kenlake Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1985
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
David Thelen
1.713.585.0141
Keller Williams Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13285006
Last Updated: 03/27/2021
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