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23710 Welch House Lane Katy, TX 77493

5 Beds 4 Baths 2,312 sqft Built 1998

$225,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $97.32
  • 5 Days on Market
  • MLS # : 67879278
  • Updated Date : 01/15/2021 at 08:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,312 sqft
  • Baths : 3 full , 1 half
Listing Agent

Su-fen Lu

Listing Agent's Description

5 minutes bike ride to w private schools and zoned public elementary school . On the edge of cul-de-sac , back to back biking/walking trails that connect to old katy. Beautiful yard with huge covered patio. Master and 3 bed rooms up and one bed room down with private full bath. Large den and square kitchen. Flooring flows nicely, Large covered patio in back with storage shed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Williamsburg Parish

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Neighborhood: Williamsburg Parish

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9241867

* 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
Winborn Elementary School Primary Regular 761 58 5
Stockdick Junior High Middle Regular NA
Paetow High School High Regular NA

Winborn Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
5
GreatSchools Rating

Stockdick Junior High

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Paetow High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$782
Property Tax -$542
Property Insurance -$183
HOA -$32
Property Management Fees -$99
CASH FLOW
$82

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

$1,720

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.9%
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

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$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 60% 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

3.5

YEARS SAVED

$6,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7205$1,750
$1,750
RENT COMPS ANALYSIS
  • 23710 Welch House Lane Katy, TX 4
    • 5 beds 4 baths ∙ 2,312 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,312 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.74
    •  
  • 23711 Welch House Lane Katy, TX 1
    • 4 beds 2 baths ∙ 2,489 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,489 Sqft ∙ Built 1998
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 2231 Tourney Lane Katy, TX 2
    • 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 2002
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 2331 Princess Deanna Lane Katy, TX 3
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1999
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 23742 Welch House Lane Katy, TX 5
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1998
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
PROPERTY LISTING DETAILS
Su-fen Lu
1.281.772.8788
Su-fen Lu
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67879278
Last Updated: 01/15/2021
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