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2617 Village Circle Drive Katy, TX 77493

3 Beds 2 Baths 1,215 sqft Built 1981

$169,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $139.09
  • 4 Days on Market
  • MLS # : 78869187
  • Updated Date : 01/29/2021 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Cozy 3 bedroom home near the heart of Katy. Minutes from Katy mills mall and Typhoon Texas Waterpark. Zoned to Katy ISD. No HOA dues and low tax rate!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Village Green West

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k301k

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

Neighborhood: Village Green West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7951867

* 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
Hutsell Elementary School Primary Regular 815 62 5
Katy Junior High School Middle Regular 1,288 86 7
Katy High School High Regular 3,065 176 7

Hutsell Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 62
5
GreatSchools Rating

Katy Junior High School

  • Education Level: Middle
  • # of students: 1,288
  • # of teachers: 86
7
GreatSchools Rating

Katy High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 176
7
GreatSchools Rating
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$587
Property Tax -$353
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$262

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$169,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$25,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,312

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3503$1,4004$1,4105$1,635
$1,635
RENT COMPS ANALYSIS
  • 2617 Village Circle Drive Katy, TX 4
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.16
    •  
  • 5606 Dahlia Lane Katy, TX 1
    • 3 beds 1 baths ∙ 1,242 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,242 Sqft ∙ Built 1964
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.05
    •  
  • 5630 Village Way Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1983
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 2528 Village Circle Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1979
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 5718 Village Way Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1982
    property image
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $1.21
    •  
PROPERTY LISTING DETAILS
Kim Garcia Luague
1.281.772.4582
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 78869187
Last Updated: 01/29/2021
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