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6203 Pebble Canyon Court Katy, TX 77450

3 Beds 3 Baths 2,380 sqft Built 1998

$235,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $98.74
  • 5 Days on Market
  • MLS # : 23816633
  • Updated Date : 11/28/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,380 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bernstein Realty, Inc.

Listing Agent's Description

SELLERS HAVE ACCEPTED AN OFFER - WAITING FOR RELOCATION CO TO EXECUTE. Prime location with proximity to amenities of Katy and easy access to Westpark for commuting. Charming home on a cul-de-sac with a large backyard with mature landscaping. Home has beautiful wood look porcelain tile downstairs, LVP plank flooring and tile upstairs and carpeting on the stairs. Room for a pool and playground equipment! Large Chef's kitchen offers island with stainless appliances, pot filler and range hood. Game Room is flexible space and could be used for study or home schooling. Covered screened patio in the backyard.

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10372063

* 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
Creech Elementary School Primary Regular 834 57 10
Beck Junior High School Middle Regular 1,063 64 9
Cinco Ranch High School High Regular 3,171 174 9

Creech Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 57
10
GreatSchools Rating

Beck Junior High School

  • Education Level: Middle
  • # of students: 1,063
  • # of teachers: 64
9
GreatSchools Rating

Cinco Ranch High School

  • Education Level: High
  • # of students: 3,171
  • # of teachers: 174
9
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$867
Property Tax -$583
Property Insurance -$165
HOA -$102
Property Management Fees -$99
CASH FLOW
$144

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.

$235,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$12k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,9453$1,9604$2,0005$2,098
$2,098
RENT COMPS ANALYSIS
  • 6203 Pebble Canyon Court Katy, TX 3
    • 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.82
    •  
  • 6218 Presidio Canyon Drive Katy, TX 1
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 1999
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.77
    •  
  • 6235 Clear Canyon Drive Katy, TX 2
    • 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2000
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.86
    •  
  • 6542 Emerald Canyon Road Katy, TX 4
    • 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 20207 Black Canyon Drive Katy, TX 5
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1998
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,098
    • $0.89
    •  
PROPERTY LISTING DETAILS
Janice Ratliff
1.713.932.1032
Bernstein Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 23816633
Last Updated: 11/28/2020
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