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24919 Lakecrest Manor Drive 
Katy, TX
77493
3 Beds 2 Baths 1,598 sqft
Built 2008
INVESTimate
$200,000
List Price
$58,750
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PROPERTY INFO
FACTS
- Built In 2008
- Price/Sqft : $125.16
- 3 Days on Market
- MLS # : 93198445
- Updated Date : 08/25/2020 at 19:35
CONSTRUCTION
- Beds : 3
- Floor Size : 1,598 sqft
- Baths : 2 full
Listing Agent
Compass Re Texas, Llc
Listing Agent's Description
Welcome to this charming 1 story stone and brick home in the heart of Katy. With 3 bedrooms and 2 baths this home is perfect for starting out or maybe downsizing. Large front porch is perfect for sipping your morning coffee. When you enter you are welcomed with a open concept floor plan, with large living space, kitchen bar and dining area. This open concept floor plan is perfect for entertaining large group but intimate enough to have a wonderful home cooked meal with your loved ones. Lots of great storage in this home with multiple storage closets and large closets in all bedrooms, plus large laundry room with additional storage. This home wouldn't be complete without an oversized two car garage, approved for Texas sized truck parking. The backyard is fully fenced with a large patio ready for you to grill your favorite BBQ. Plenty of grass space for the kids or dogs to play or maybe put in a swing set. Zoned to award winning Katy ISD schools! Hurry! Make your appointment today!
SEE MORE
- 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
Zip Code: 77493
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 77493
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$738 |
| Property Tax | -$482 | |
| Property Insurance | -$135 | |
| HOA | -$42 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$114
|
||
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.
$200,000
PROJECTED PRICE
$1,610
PROJECTED RENT
0.81%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 6.84% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,750
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
4.58
YEARS SAVED
$10,974
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,610
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$1,614
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
-
24919 Lakecrest Manor Drive Katy, TX 3
- 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,610
- $1.01
-
24734 Lakecrest Village Drive Katy, TX 1
- 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 2013
LEASED 11/30/19- Rent
- Rent Per SQFT
- $1,450
- $0.97
-
1947 Boren Drive Katy, TX 2
- 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2010
LEASED 02/17/20- Rent
- Rent Per SQFT
- $1,550
- $0.93
-
1931 Boren Drive Katy, TX 4
- 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2009
LEASED 08/21/20- Rent
- Rent Per SQFT
- $1,785
- $1.09
-
24418 Lakecrest Village Drive Katy, TX 5
- 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2006
LEASED 07/03/20- Rent
- Rent Per SQFT
- $1,850
- $1.05
PROPERTY LISTING DETAILS
1.404.915.6282
Compass Re Texas, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 93198445
Last Updated: 08/25/2020
