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23819 Rivage Ridge Drive Katy, TX 77493

4 Beds 3 Baths 2,459 sqft Built 2017

$272,500

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $110.82
  • 3 Days on Market
  • MLS # : 60333782
  • Updated Date : 02/05/2021 at 15:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,459 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

LOOK AT THIS SPECTACULAR HOUSE!!! Featuring 4 bedrooms with 3 COMPLETE bathrooms and FRESH paint throughout along with BRAND NEW engineered hardwood floors in all the bedrooms! NO CARPET ANYWHERE IN THE HOUSE! Located in the highly desirable Ventana Lakes community and zoned to Katy ISD with all three schools located in the community. This gem has been well maintained and boast beautiful granite counters sitting on top of deep mahogany cabinets with gold hardware. The open concept creates a ton of counter/cabinet space and the Butlers pantry is a BONUS! The spacious family room boast soaring ceilings while the LARGE primary bed offers plenty of space for a sitting area creating a nice quiet retreat. With all of this plus NO BACK NEIGHBORS and minutes form 99 and a slew of new restaurants and shopping centers WHAT ARE YOU WAITING FOR! Plus Amazon is right down the street so same day delivery is available!!!

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

Zip Code: 77493

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Zip Code: 77493

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9801867

* 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
Bethke Elementary Primary Unknown NA
Stockdick Junior High Middle Unknown NA
Paetow High School High Unknown NA

Bethke Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$245,250$299,750$272,500

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$947
Property Tax -$599
Property Insurance -$193
HOA -$67
Property Management Fees -$99
CASH FLOW
$105

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.

$272,500

PROJECTED PRICE

$2,010

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.8%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,963

INVESTMENT

$77,963

Down Payment
$68,125
Rehab Estimate
$5,750
Closing Costs
$4,088

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$947

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,125
Loan Amount $204,375
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0103$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 23819 Rivage Ridge Drive Katy, TX 2
    • 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.82
    •  
  • 4427 Aversa Drive Katy, TX 1
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2017
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 23831 Padova Gardens Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2018
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 23703 Scotsman Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2016
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 4203 Bergamo Shores Drive Katy, TX 5
    • 4 beds 4 baths ∙ 2,610 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,610 Sqft ∙ Built 2014
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
PROPERTY LISTING DETAILS
Zachary Chilton
1.832.899.4788
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60333782
Last Updated: 02/05/2021
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