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5334 Ivory Glass Drive Katy, TX 77493

3 Beds 2 Baths 1,803 sqft Built 2015

$245,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $135.88
  • 2 Days on Market
  • MLS # : 36555116
  • Updated Date : 03/28/2021 at 00:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Welcome home to this gem of a home in desirable King Crossing. Home is spacious and features a massive breakfast area that is open to the kitchen and the family room. You'll love the walk-in pantry in the kitchen! Master bedroom with view to the backyard includes large closet. The private master bathroom has dual sinks, separate soaking bathtub and stand-alone shower. The two secondary bedrooms share a bathroom.Playground equipment in backyard stays with the home. Home has been well-maintained and is just waiting for you to move in!!! Neighborhood has many water features with pretty water fountains. Huge community pool with splashpad and two dog parks are close-by! Call your agent to schedule a showing today!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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 Unknown NA
Stockdick Junior High Middle Unknown NA
Paetow High School High Unknown 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$851
Property Tax -$634
Property Insurance -$149
HOA -$73
Property Management Fees -$99
CASH FLOW
$84

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.

$245,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.77%

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

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8004$1,8505$1,890
$1,890
RENT COMPS ANALYSIS
  • 5334 Ivory Glass Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.05
    •  
  • 5322 Silver Ledge Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2017
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 24611 Royal Pike Drive Katy, TX 2
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2016
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 24826 Silver Press Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2015
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
  • 5107 Monarch Belle Lane Katy, TX 4
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2018
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Virginia Manuel
1.281.650.5913
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 #: 36555116
Last Updated: 03/28/2021
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