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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Gate
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$68,025
LOAN DETAILS
$867
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $58,750 |
| Loan Amount | $176,250 |
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
-
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
1.713.932.1032
Bernstein Realty, Inc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 23816633
Last Updated: 11/28/2020
