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

23310 Gable Lodge Drive Katy, TX 77494

4 Beds 4 Baths 2,820 sqft Built 1992

$375,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $132.98
  • 3 Days on Market
  • MLS # : 93593638
  • Updated Date : 01/22/2021 at 16:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,820 sqft
  • Baths : 2 full , 2 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This amazing Cinco Ranch home on an oversized 12,345 sqft. lot with pool and spa on a quiet cul-de-sac is exactly what you've been waiting for! Walking distance to Edna Mae Fielder Elementary School in acclaimed Katy ISD, this home is ideally located and offers the best in location, convenience, and luxurious amenities like the pool and spa in the massive backyard. Blending traditional and contemporary styles, this transitional gem offers a large gourmet kitchen with granite countertops, a breakfast area and huge family room overlooking the park-like backyard and a large study and formal dining room off the grand foyer. All beautifully appointed bedrooms are located on second floor and flooded in natural light. Close to shopping and restaurants and an easy commute to all of Houston's major business districts, this home is a dream come true. Recently painted throughout in a neutral color palette, new AC unit and driftwood LVT just installed - looks and feels like wood but super durable!

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: 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
Cinco Ranch Junior High School Primary Regular 1,241 74 9
Cinco Ranch Junior High School Middle Regular 1,241 74 9
Cinco Ranch High School High Regular 3,171 174 9

Cinco Ranch Junior High School

  • Education Level: Primary
  • # of students: 1,241
  • # of teachers: 74
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,303
Property Tax -$809
Property Insurance -$190
HOA -$88
Property Management Fees -$99
CASH FLOW
$32

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.

$375,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.67%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1004$2,1505$2,520
$2,520
RENT COMPS ANALYSIS
  • 23310 Gable Lodge Drive Katy, TX 5
    • 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.89
    •  
  • 24515 Stone Falcon Lane Katy, TX 1
    • 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,703 Sqft ∙ Built 2007
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 23359 Fairbranch Katy, TX 2
    • 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1995
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 23543 Deep Cliff Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 2103 Morning Park Drive Katy, TX 4
    • 4 beds 2 baths ∙ 2,875 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,875 Sqft ∙ Built 1992
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
PROPERTY LISTING DETAILS
Kathlyn Curtis
1.713.898.8874
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 93593638
Last Updated: 01/22/2021
BESbswy