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3202 Rocky Crest Drive Katy, TX 77449

3 Beds 2 Baths 1,202 sqft Built 1983

$134,624

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $112.00
  • 4 Days on Market
  • MLS # : 38148114
  • Updated Date : 01/09/2021 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,202 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Calling all BUYERS and INVESTORS! Don't miss this steal in a your favorite part of Katy zoned to Golbow Elementary, Mc Donald Junior High and Paetow Highschool! This can be a great rental, flip, OR 1st time home with a little bit of work. It already has new paint, new wood flooring, baseboards, new interior doors, a new garage door AND THE ROOF IS ONLY 4 years old. There is also a hidden little gem with an extra 500 SQ ft of space that could be used for a game room, another bedroom or a massive amount of storage space. YOU GOTTA SEE THIS! It's a MUST SEE.....No showings will be scheduled - IT WILL BE OPEN SATURDAY 11am to 3 pm. DON'T miss it. Room dimensions to be verified by buyers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Westland Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $85k301k

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

Neighborhood: Westland Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7771867

* 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
Golbow Elementary School Primary Regular 807 56 7
Mcdonald Junior High School Middle Regular 1,041 64 6
Paetow High School High Regular NA

Golbow Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 56
7
GreatSchools Rating

Mcdonald Junior High School

  • Education Level: Middle
  • # of students: 1,041
  • # of teachers: 64
6
GreatSchools Rating

Paetow High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$121,162$148,086$134,624

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$468
Property Tax -$360
Property Insurance -$108
HOA -$36
Property Management Fees -$99
CASH FLOW
$319

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.

$134,624

PROJECTED PRICE

$1,390

PROJECTED RENT

1.03%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,425

INVESTMENT

$41,425

Down Payment
$33,656
Rehab Estimate
$5,750
Closing Costs
$2,019

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$468

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $33,656
Loan Amount $100,968
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$26,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,226

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3904$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3202 Rocky Crest Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.16
    •  
  • 22039 Pearl Lake Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1981
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 21510 Bowcreek Lane Katy, TX 2
    • 3 beds 3 baths ∙ 1,402 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,402 Sqft ∙ Built 2001
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 22107 Glenburn Manor Lane Katy, TX 4
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1983
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
  • 22515 Townhall Court Katy, TX 5
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1994
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tonya Pruett
1.832.884.4457
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38148114
Last Updated: 01/09/2021
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