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2506 Oakthorn Court Katy, TX 77494

4 Beds 4 Baths 2,548 sqft Built 2007

$285,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $111.85
  • 2 Days on Market
  • MLS # : 37835558
  • Updated Date : 03/13/2021 at 10:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

WOW! Come see this 4 bedroom/3.5 bath home located on an OVERSIZED cul-de-sac lot! Loads of recent updates-paint, carpet, lighting and plumbing fixtures! Welcoming front and back porches! This wonderful home features two owner retreats-one up and one down! Spacious secondary bedrooms! Great storage! GIGANTIC game room! The island kitchen has freshened cabinets, granite counters, gas cooking! Cozy fireplace! Easy access to 99 and I-10! Close to LOADS of shopping, schools and restaurants! Award winning Katy ISD schools! Call today to see this amazing home!

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: Parkway Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k359k

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

Neighborhood: Parkway Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9822063

* 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
Rylander Elementary School Primary Regular 1,339 81 9
Cinco Ranch Junior High School Middle Regular 1,241 74 9
Cinco Ranch High School High Regular 3,171 174 9

Rylander Elementary School

  • Education Level: Primary
  • # of students: 1,339
  • # of teachers: 81
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$990
Property Tax -$641
Property Insurance -$177
HOA -$46
Property Management Fees -$99
CASH FLOW
$6

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.

$285,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,103

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9603$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2506 Oakthorn Court Katy, TX 2
    • 4 beds 4 baths ∙ 2,604 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,604 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.75
    •  
  • 25306 Basil Brook Court Katy, TX 1
    • 3 beds 3 baths ∙ 2,441 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,441 Sqft ∙ Built 2008
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 25122 Southbriar Lane Katy, TX 3
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 25210 Sterling Cloud Lane Katy, TX 4
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 23707 River Place Drive Katy, TX 5
    • 4 beds 4 baths ∙ 2,705 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,705 Sqft ∙ Built 2000
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Gretchen Barrilleaux
1.713.480.6251
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 37835558
Last Updated: 03/13/2021
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