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4114 Lime Creek Drive Katy, TX 77450

3 Beds 2 Baths 2,110 sqft Built 1999

$250,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $118.48
  • 3 Days on Market
  • MLS # : 38818263
  • Updated Date : 02/13/2021 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,110 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Signature

Listing Agent's Description

Lovely 1-story Village Builders home on a quiet street in Cinco Ranch. Step inside to find neutral paint, raised ceilings, & wonderful natural light from scattered windows throughout. Host special occasions w/an elegant formal dining room. Spacious den would also make a great study. An open & bright family room has stacked windows, a gas log fireplace & is separated from the kitchen & breakfast area by a large island w/a breakfast bar, perfect for serving or additional seating. The kitchen has Corian countertops & tile back-splash, a large pantry, & gas cooking. The owner's suite has a raised ceiling, large windows w/a window seat, 2-walk-in closets, & a beautiful spa-like bath w/a jetted tub, separate shower, & 2-vanities. Spacious guest bedrooms each w/large closets & easy access to a full bathroom. Large fenced yard w/a patio & sprinkler system. Brick on 4-sides. Amazing amenities include golf, tennis, swim & splash pads, parks & playgrounds, miles of connecting trails, & more.

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: University Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: University Place

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
Williams Elementary School Primary Regular 705 46 9
Beck Junior High School Middle Regular 1,063 64 9
Cinco Ranch High School High Regular 3,171 174 9

Williams Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 46
9
GreatSchools Rating

Beck Junior High School

  • Education Level: Middle
  • # of students: 1,063
  • # of teachers: 64
9
GreatSchools Rating

Cinco Ranch High School

  • Education Level: High
  • # of students: 3,171
  • # of teachers: 174
9
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$868
Property Tax -$537
Property Insurance -$149
HOA -$92
Property Management Fees -$99
CASH FLOW
$125

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.

$250,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.75%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,925

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9253$1,9504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 4114 Lime Creek Drive Katy, TX 1
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.89
    •  
  • 22215 Merabrook Drive Katy, TX 2
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.85
    •  
  • 22410 Teagarden Court Katy, TX 3
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1999
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 22315 Bellows Bend Drive Katy, TX 4
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 22415 Rue Canyon Court Katy, TX 5
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2000
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Dale Ross
1.281.599.6575
Keller Williams Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38818263
Last Updated: 02/13/2021
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