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3226 Raintree Village Drive Katy, TX 77449

4 Beds 2 Baths 2,145 sqft Built 2010

$220,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $102.56
  • 4 Days on Market
  • MLS # : 74989515
  • Updated Date : 01/22/2021 at 16:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,145 sqft
  • Baths : 2 full
Listing Agent

Htx Living, Llc

Listing Agent's Description

Welcome to Raintree Village and your new home! This pristine single story 4 bedroom home offers great curb appeal and a beautifully manicured yard. Floorplan is an open concept with kitchen open to breakfast room and family room. Kitchen offers granite countertops, gas range, ample cabinet and counter space and a breakfast bar. Perfect layout for family meals or a quiet night cooking in. Primary retreat offers warmth and natural light with primary en suite bath with his/her vanity and whirlpool tub with separate shower. The split floorplan positions the spacious secondary bedrooms away from the primary for privacy. Large backyard with covered patio is perfect for family barbeque and enjoying the nights of Houston! The windows in the living room and the backdoor are Category 3 hurricane grade and have a lifetime warranty.

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: Raintree Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Neighborhood: Raintree Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8611867

* 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
Franz Elementary School Primary Regular 964 75 5
Mcdonald Junior High School Middle Regular 1,041 64 6
Morton Ranch High School High Regular 3,378 201 6

Franz Elementary School

  • Education Level: Primary
  • # of students: 964
  • # of teachers: 75
5
GreatSchools Rating

Mcdonald Junior High School

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

Morton Ranch High School

  • Education Level: High
  • # of students: 3,378
  • # of teachers: 201
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$764
Property Tax -$530
Property Insurance -$172
HOA -$36
Property Management Fees -$99
CASH FLOW
$88

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.

$220,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.0%
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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6904$1,6905$1,900
$1,900
RENT COMPS ANALYSIS
  • 3226 Raintree Village Drive Katy, TX 4
    • 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.79
    •  
  • 20514 Cedar Rain Drive Katy, TX 1
    • 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2005
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 3402 Rainshore Drive Katy, TX 2
    • 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2003
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 3226 Rainhill Court Katy, TX 3
    • 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2004
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.76
    •  
  • 3503 Rainshore Drive Katy, TX 5
    • 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 2006
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tanya Erickson
1.832.344.7300
Htx Living, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 74989515
Last Updated: 01/22/2021
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