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6543 Holly Cove Lane Katy, TX 77449

4 Beds 2 Baths 1,742 sqft Built 2006

$182,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $104.48
  • 2 Days on Market
  • MLS # : 50677167
  • Updated Date : 12/26/2020 at 19:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Realty World Elite Group

Listing Agent's Description

This 4 bedroom, 2 bath home features new interior paint, new tile flooring in wet areas, new fans and light fixtures, and new garage door. Large kitchen with new sink, faucet and granite countertops.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Strathmore

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $104k301k

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

Neighborhood: Strathmore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7901867

* 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
Jowell Elementary School Primary Regular 965 58 5
Kahla Middle School Middle Regular 1,450 94 6
Cypress Springs High School High Regular 2,942 186 5

Jowell Elementary School

  • Education Level: Primary
  • # of students: 965
  • # of teachers: 58
5
GreatSchools Rating

Kahla Middle School

  • Education Level: Middle
  • # of students: 1,450
  • # of teachers: 94
6
GreatSchools Rating

Cypress Springs High School

  • Education Level: High
  • # of students: 2,942
  • # of teachers: 186
5
GreatSchools Rating
 

$163,800$200,200$182,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$672
Property Tax -$437
Property Insurance -$145
HOA -$25
Property Management Fees -$99
CASH FLOW
$163

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.

$182,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k

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$53,980

INVESTMENT

$53,980

Down Payment
$45,500
Rehab Estimate
$5,750
Closing Costs
$2,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$672

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,500
Loan Amount $136,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$14,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4653$1,4954$1,5405$1,650
$1,650
RENT COMPS ANALYSIS
  • 6543 Holly Cove Lane Katy, TX 4
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.88
    •  
  • 18623 Willow Cove Drive Katy, TX 1
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2003
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.89
    •  
  • 19442 Elmtree Estates Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1996
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.84
    •  
  • 19214 Anthurium Court Katy, TX 3
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2005
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 6506 Larissa Circle Katy, TX 5
    • 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 1996
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Teresa Nguyen
1.832.356.7783
Realty World Elite Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50677167
Last Updated: 12/26/2020
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