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5027 Heatherdawn Court Katy, TX 77494

3 Beds 2 Baths 1,998 sqft Built 2007

$239,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $120.07
  • 3 Days on Market
  • MLS # : 73169483
  • Updated Date : 12/11/2020 at 15:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,998 sqft
  • Baths : 2 full
Listing Agent

Texas Homes Realty

Listing Agent's Description

Your search has ended! Spacious 3BR Home in Desirable Community. This Home Features Tile Flooring Throughout. Formal Dining Room with Plenty of Lighting. Spacious Living Room with warming fireplace. Ceiling Fans Throughout. Island Kitchen Comes with Granite Countertop, Tile Backsplash and Breakfast Room. Large primary with French Doors and Walk In Closet. Nice Size Secondary Rooms. Relax Out Back On The Deck. Plenty of Backyard Space. Excellent KATY ISD! Come See Today!

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: Cinco West at Seven Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cinco West at Seven Meadows

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
Kilpatrick Elementary School Primary Regular 1,109 71 10
Beckendorff Junior High School Middle Regular 1,697 89 10
Seven Lakes High School High Regular 3,463 186 10

Kilpatrick Elementary School

  • Education Level: Primary
  • # of students: 1,109
  • # of teachers: 71
10
GreatSchools Rating

Beckendorff Junior High School

  • Education Level: Middle
  • # of students: 1,697
  • # of teachers: 89
10
GreatSchools Rating

Seven Lakes High School

  • Education Level: High
  • # of students: 3,463
  • # of teachers: 186
10
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$885
Property Tax -$515
Property Insurance -$142
HOA -$92
Property Management Fees -$99
CASH FLOW
$97

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.

$239,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 4.9%
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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8504$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 5027 Heatherdawn Court Katy, TX 1
    • 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.92
    •  
  • 5031 Azalea Meadow Lane Katy, TX 2
    • 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2008
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 25811 Sundrop Meadows Lane Katy, TX 3
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 5030 Heatherdawn Court Katy, TX 4
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2007
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 25715 Abbotglen Lane Katy, TX 5
    • 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2007
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jacqueline Wallman
1.281.646.9929
Texas Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 73169483
Last Updated: 12/11/2020
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