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5703 Everhart Manor Lane Katy, TX 77494

3 Beds 3 Baths 2,575 sqft Built 2007

$315,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $122.33
  • 2 Days on Market
  • MLS # : 32421947
  • Updated Date : 11/28/2020 at 08:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,575 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Enjoy everything that Katy has to offer in this incredible home situated in the serene Seven Meadows community. This beautiful 3-bed, 2.5 bath property features high ceilings, tile flooring, a study with French doors, a fireplace in the great room, and a game room. Dream up new recipes in the island kitchen, fully equipped with granite countertops, a tile backsplash, and a breakfast bar. Boasting dual vanities, a jetted tub, and a separate shower, the tranquil primary suite is the perfect evening getaway. Relax under the shade of the covered patio or take a dip in the pool and spa. Community comforts include two pools, tennis courts, a fitness center, and parks. Residents enjoy easy access to LaCenterra at Cinco Ranch and the Katy Mills Mall via the Grand Parkway. Nearby schools are zoned to the highly-rated Katy ISD. This is your dream home – call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Seven Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: 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
Holland Elementary School Primary Regular 944 65 9
Beckendorff Junior High School Middle Regular 1,697 89 10
Seven Lakes High School High Regular 3,463 186 10

Holland Elementary School

  • Education Level: Primary
  • # of students: 944
  • # of teachers: 65
9
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,162
Property Tax -$665
Property Insurance -$176
HOA -$100
Property Management Fees -$99
CASH FLOW
$168

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.

$315,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 1.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2954$2,3505$2,370
$2,370
RENT COMPS ANALYSIS
  • 5703 Everhart Manor Lane Katy, TX 5
    • 3 beds 3 baths ∙ 2,575 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,575 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.92
    •  
  • 25926 Orchard Knoll Lane Katy, TX 1
    • 3 beds 3 baths ∙ 2,438 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,438 Sqft ∙ Built 2007
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 9030 Necklace Tree Lane Katy, TX 2
    • 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2007
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 25810 Orchard Knoll Lane Katy, TX 3
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 5534 Baby Blue Lane Katy, TX 4
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32421947
Last Updated: 11/28/2020
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