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PROPERTY INFO
FACTS
- Single Family
- Built In 2011
- Price/Sqft : $125.86
- 3 Days on Market
- MLS # : 33204634
- Updated Date : 11/27/2020 at 22:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,748 sqft
- Baths : 2 full
Listing Agent
Homesmart Fine Properties
Listing Agent's Description
Welcome to 24806 Tribeca Lane! This amazing 1 story well maintained home offers boasts of fresh new updates. Featuring fresh paint throughout, new carpet in all bedrooms, new dark wood flooring & new stainless steel appliances. This beautiful home offers an open concept with tons of natural light. Enjoy the peaceful back patio offering no back neighbors. This lovely home is located easily to shopping, dining & entertainment! Schedule your private tour today!
SEE MORE
- 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: Lakecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$812 |
| Property Tax | -$484 | |
| Property Insurance | -$145 | |
| HOA | -$48 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$192
|
||
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.
$220,000
PROJECTED PRICE
$1,780
PROJECTED RENT
0.81%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$64,050
LOAN DETAILS
$812
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $55,000 |
| Loan Amount | $165,000 |
6.17
YEARS SAVED
$17,420
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$1,774
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
24806 Tribeca Lane Katy, TX 2
- 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2011
- Rent
- Rent Per SQFT
- $1,780
- $1.02
-
1931 Boren Drive Katy, TX 1
- 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,750
- $1.06
-
24722 Tribeca Lane Katy, TX 3
- 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2011
LEASED 10/29/20- Rent
- Rent Per SQFT
- $1,825
- $0.99
-
24414 Pepperrell Place Street Katy, TX 4
- 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2003
LEASED 11/01/20- Rent
- Rent Per SQFT
- $1,850
- $1.00
-
24911 Tribeca Lane Katy, TX 5
- 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2011
LEASED 02/05/20- Rent
- Rent Per SQFT
- $1,850
- $1.01
PROPERTY LISTING DETAILS
1.832.576.0499
Homesmart Fine Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 33204634
Last Updated: 11/27/2020
