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23302 Fall Wind Court Katy, TX 77494

4 Beds 2 Baths 2,516 sqft Built 1991

$295,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $117.25
  • 3 Days on Market
  • MLS # : 40114233
  • Updated Date : 02/13/2021 at 11:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,516 sqft
  • Baths : 2 full
Listing Agent

Spouses Selling Houses

Listing Agent's Description

This Perry built one story is located in a culdesac street and and has convenient access to the Grand Parkway (99). This was Grandma and Grandpa's house so you might want to do some redecorating, but the house has been well cared for and is priced so that you can make it your own! The kitchen has great work spaces including an island with downdraft cooktop and kitchen sink window that looks outside. Custom built covered patio provides an extended outdoor area. Detached garage has a workshop area and a side extension for additional storage.

SEE MORE

MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Neighborhood: Greenway Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k395k

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

Neighborhood: Greenway Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10372354

* 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
Fielder Elementary School Primary Regular 1,120 69 9
Cinco Ranch Junior High School Middle Regular 1,241 74 9
Cinco Ranch High School High Regular 3,171 174 9

Fielder Elementary School

  • Education Level: Primary
  • # of students: 1,120
  • # of teachers: 69
9
GreatSchools Rating

Cinco Ranch Junior High School

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 74
9
GreatSchools Rating

Cinco Ranch High School

  • Education Level: High
  • # of students: 3,171
  • # of teachers: 174
9
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,025
Property Tax -$643
Property Insurance -$172
HOA -$93
Property Management Fees -$99
CASH FLOW
$228

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.

$295,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.1%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2503$2,2604$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 23302 Fall Wind Court Katy, TX 3
    • 4 beds 2 baths ∙ 2,516 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,516 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.90
    •  
  • 1510 Morning Park Drive Katy, TX 1
    • 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1994
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.91
    •  
  • 23327 Leaf Ridge Drive Katy, TX 2
    • 4 beds 2 baths ∙ 2,491 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,491 Sqft ∙ Built 1993
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 2142 Morning Park Drive Katy, TX 4
    • 3 beds 2 baths ∙ 2,538 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,538 Sqft ∙ Built 1993
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
  • 23206 Greenway Park Circle Katy, TX 5
    • 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 1993
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.98
    •  
PROPERTY LISTING DETAILS
Janice Poscovsky
1.281.468.9185
Spouses Selling Houses
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40114233
Last Updated: 02/13/2021
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