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4302 Romiti Ct Katy, TX 77493

4 Beds 2 Baths 2,141 sqft Built 2015

$275,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $128.87
  • 3 Days on Market
  • MLS # : 44449010
  • Updated Date : 02/12/2021 at 22:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,141 sqft
  • Baths : 2 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

BETTER THAN NEW CONSTRUCTION: This GORGEOUS, never flooded, one story home in Ventana Lakes includes: 4BR/2Bath/2 Car, Tile floors throughout the living areas and plush carpet in all the bedrooms. Kitchen with stainless steel appliances. Gorgeous granite counter tops with large island-beautiful 42' cabinets w/butlers bar and tile back splash. Formal dining +4 spacious bedrooms. The spacious living area is light with windows, and flows beautifully in to the dining and kitchen areas for ease of entertaining. This unique floor plan can easily be converted into an office if the 4th bedroom is not needed. Located on a premium 50' lot, corner lot in a cul-de-sac section. this home has a covered back patio, professional landscaping. Located in a highly desirable area, zoned to Katy ISD, next to major roadways, shopping and dining. Don't miss out on the chance to make this home yours! To take a virtual tour check the link ...

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

Zip Code: 77493

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k301k

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

Zip Code: 77493

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9801867

* 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
Bethke Elementary Primary Regular NA
Stockdick Junior High Middle Regular NA
Paetow High School High Regular NA

Bethke Elementary

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

Stockdick Junior High

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

Paetow High School

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

$248,310$303,490$275,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$958
Property Tax -$607
Property Insurance -$172
HOA -$67
Property Management Fees -$99
CASH FLOW
$68

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.

$275,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.8%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$78,864

INVESTMENT

$78,864

Down Payment
$68,975
Rehab Estimate
$5,750
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$958

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9004$1,9705$1,975
$1,975
RENT COMPS ANALYSIS
  • 4302 Romiti Ct Katy, TX 4
    • 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.92
    •  
  • 4639 Capella Rivera Drive Katy, TX 1
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2018
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 4515 Capella Riviera Katy, TX 2
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2017
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 23827 Scotsman Drive Katy, TX 3
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2015
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 4427 Stolz Trail Katy, TX 5
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2017
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
PROPERTY LISTING DETAILS
Desiree Garcia
1.713.632.4400
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44449010
Last Updated: 02/12/2021
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