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2818 Hollinwell Drive Katy, TX 77450

4 Beds 3 Baths 2,623 sqft Built 1994

$345,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $131.53
  • 2 Days on Market
  • MLS # : 96471245
  • Updated Date : 03/06/2021 at 17:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,623 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

Don't miss this 4 bedroom two-story on a beautiful corner lot in Kelliwood! This home is perfect for those who want to be close to everything, while still living the quiet life. House sits on the corner lot of on a cul-de-sac street. Kitchen features stone countertops, newly installed tile floors, lots of cabinets & a pantry. Family room offers a comfortable place to hang out and a fireplace for chilly winter months. Spacious owner's suite is on first floor and has gorgeous newly remodeled bath. Upstairs has nice sized secondary bedrooms, full bath and space for a play room, den or office. Outside there's a covered patio, bbq area and large mature trees that provide shade in the heat of the summer. Zoned to KATY ISD!

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: Kelliwood Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Kelliwood Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10373320

* 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
Exley Elementary School Primary Regular 988 63 9
Mcmeans Junior High School Middle Regular 1,081 66 9
Taylor High School High Regular 2,943 156 9

Exley Elementary School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 63
9
GreatSchools Rating

Mcmeans Junior High School

  • Education Level: Middle
  • # of students: 1,081
  • # of teachers: 66
9
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 156
9
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,198
Property Tax -$709
Property Insurance -$179
HOA -$42
Property Management Fees -$99
CASH FLOW
$33

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$345,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9503$2,0004$2,2605$2,500
$2,500
RENT COMPS ANALYSIS
  • 2818 Hollinwell Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.86
    •  
  • 21603 Wittman Lane Katy, TX 1
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1999
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 2306 Lashley Court Katy, TX 2
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1996
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 3018 Willow Trace Court Katy, TX 3
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 3230 Kingsbriar Lane Katy, TX 5
    • 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
PROPERTY LISTING DETAILS
Christina Schultz
1.814.397.7578
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 96471245
Last Updated: 03/06/2021
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