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6010 Lone Prairie Way Katy, TX 77449

3 Beds 2 Baths 1,809 sqft Built 2005

$210,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $116.09
  • 7 Days on Market
  • MLS # : 94091542
  • Updated Date : 01/10/2021 at 00:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,809 sqft
  • Baths : 2 full
Listing Agent

Texas United Realty

Listing Agent's Description

Here it is, the one you've been waiting for. No carpet, just hard wood and tile floors throughout. High ceilings and large windows compliment the open living room. Open kitchen with lots of cabinets and counter space. This is a lovely home in a great neighborhood. Schedule your showing today and fall in love. No flooding.

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: Settlers Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k301k

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

Neighborhood: Settlers Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7771867

* 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
Hemmenway Elementary School Primary Regular 1,030 59 5
Hopper Middle School Middle Regular 1,369 94 6
Cypress Park High School High Regular NA

Hemmenway Elementary School

  • Education Level: Primary
  • # of students: 1,030
  • # of teachers: 59
5
GreatSchools Rating

Hopper Middle School

  • Education Level: Middle
  • # of students: 1,369
  • # of teachers: 94
6
GreatSchools Rating

Cypress Park High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$729
Property Tax -$531
Property Insurance -$149
HOA -$27
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 16% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.8%
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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$8,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5853$1,6004$1,6205$1,750
$1,750
RENT COMPS ANALYSIS
  • 6010 Lone Prairie Way Katy, TX 4
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.90
    •  
  • 6007 Minard Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 5811 Laramie River Court Katy, TX 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2004
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.93
    •  
  • 20119 Eatons Creek Court Katy, TX 3
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 2005
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 5811 Horse Prairie Drive Katy, TX 5
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Danielle Navas
1.832.208.9968
Texas United Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 94091542
Last Updated: 01/10/2021
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