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5341 W Tallowwood Terrace Katy, TX 77493

3 Beds 2 Baths 1,236 sqft Built 1998

$175,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $141.59
  • 6 Days on Market
  • MLS # : 47120456
  • Updated Date : 01/07/2021 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Beautiful home in a nice area. A 3/2. Would be great for any family. Just minuets from Katy Junior High, stores and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pineview Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k301k

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

Neighborhood: Pineview Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7881867

* 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
Hutsell Elementary School Primary Regular 815 62 5
Katy Junior High School Middle Regular 1,288 86 7
Katy High School High Regular 3,065 176 7

Hutsell Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 62
5
GreatSchools Rating

Katy Junior High School

  • Education Level: Middle
  • # of students: 1,288
  • # of teachers: 86
7
GreatSchools Rating

Katy High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 176
7
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$608
Property Tax -$385
Property Insurance -$111
HOA -$17
Property Management Fees -$99
CASH FLOW
$61

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$175,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$7,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3503$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 5341 W Tallowwood Terrace Katy, TX 1
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.04
    •  
  • 5630 Village Way Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1983
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 5334 Tallowpine Terrace Katy, TX 3
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 2002
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
  • 5311 Linda Lane Katy, TX 4
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1978
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 2201 Georgetown Street Katy, TX 5
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1982
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Melvin Jones
1.281.216.7116
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47120456
Last Updated: 01/07/2021
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