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29303 Kindle Way Katy, TX 77494

4 Beds 3 Baths 2,509 sqft Built 2015

$335,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $133.52
  • 8 Days on Market
  • MLS # : 2594225
  • Updated Date : 02/19/2021 at 19:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,509 sqft
  • Baths : 3 full
Listing Agent

Nicole Freer Group

Listing Agent's Description

GRAND OPENING! OPEN HOUSE SATURDAY FEBRUARY 20TH AND SUNDAY FEBRUARY 21ST FROM 12:00PM-4:00PM! Welcome home to 29303 Kindle Way located in the master planned community of Firethorne & zoned to Lamar Consolidated ISD! This stunning Highland home features 4 bedrooms & 3 full baths. Work from home in the handsome home office. Entertain your guests & family in the formal dining area. The chef's kitchen features dark stained stained cabinetry with quartz countertops, SS appliances, & a separate island perfect for bar seating. The family room includes a gorgeous stone fireplace with mantel, wood flooring, & large windows allowing the natural light to shine through. End your days in the spacious master suite. The master bath includes double sinks, large walk-in shower, separate garden tub & walk-in closet. Don't forget to step out back for a view of the extended covered patio & backyard. You don't want to miss all this home has to offer! Check out the 3D tour & schedule your showing today!

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

Zip Code: 77494

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k403k

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

Zip Code: 77494

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10372506

* 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
Huggins Elementary School Primary Regular 637 35 7
Briscoe Junior High School Middle Regular 1,191 65 8
Foster High School High Regular 2,130 102 8

Huggins Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 35
7
GreatSchools Rating

Briscoe Junior High School

  • Education Level: Middle
  • # of students: 1,191
  • # of teachers: 65
8
GreatSchools Rating

Foster High School

  • Education Level: High
  • # of students: 2,130
  • # of teachers: 102
8
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,164
Property Tax -$818
Property Insurance -$172
HOA -$67
Property Management Fees -$99
CASH FLOW
$71

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.

$335,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,365

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,3003$2,3004$2,3905$2,550
$2,550
RENT COMPS ANALYSIS
  • 29303 Kindle Way Katy, TX 4
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.95
    •  
  • 29322 Wood Lily Katy, TX 1
    • 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2015
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 29530 Jarvis Bay Pass Katy, TX 2
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2018
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 2222 Angel Trumpet Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 29007 Blue Finch Court Katy, TX 5
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2011
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Nicole Freer
1.832.236.6438
Nicole Freer Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 2594225
Last Updated: 02/19/2021
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