Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5906 Pine Lakes Drive Katy, TX 77493

4 Beds 3 Baths 2,875 sqft Built 2003

$309,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $107.79
  • 5 Days on Market
  • MLS # : 49423886
  • Updated Date : 07/12/2021 at 10:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,875 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sterling Real Estate Group

Listing Agent's Description

Enjoy the beautifully detailed glass front door, large windows, and wood floors upon entry to this lovely home. Located in the established community of Pine Lakes, this home features formal dining room, and gas log fireplace with Whitestone face certain to match any décor in family room. Kitchen is open to the family room and includes luxe black granite countertops, high detailed coffered ceilings with large windows to enjoy all the natural light. Kitchen also offers clean lines and crisp, white cabinetry. Breakfast room and primary bedroom incorporate decorative bay windows. Ensuite includes double sinks with separate shower and garden soaker tub- Primary bedroom and utility room located on first floor. Freshly laid laminate flooring in most first floor. Located in the excellent Katy ISD school district, within close proximity to shops, restaurants, and freeway access. Contact your agent today to schedule a showing!!

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
Katy Elementary School Primary Regular 609 41 8
Katy Junior High School Middle Regular 1,288 86 7
Katy High School High Regular 3,065 176 7

Katy Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
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
 

$278,910$340,890$309,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,076
Property Tax -$681
Property Insurance -$222
HOA -$29
Property Management Fees -$99
CASH FLOW
$143

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.

$309,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.73%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,728

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,580

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,5004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 5906 Pine Lakes Drive Katy, TX 1
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.78
    •  
  • 6802 Tiger Trail Katy, TX 2
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2017
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 6419 Wolf Run Drive Katy, TX 3
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2015
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 6310 Wolf Run Drive Katy, TX 4
    • 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2017
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
  • 5947 Green Meadows Lane Katy, TX 5
    • 3 beds 2 baths ∙ 2,703 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,703 Sqft ∙ Built 2014
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Linda Grover
1.281.463.6700
Sterling 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 #: 49423886
Last Updated: 07/12/2021
BESbswy