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6815 Heather Hollow Drive Katy, TX 77449

3 Beds 2 Baths 1,176 sqft Built 1984

$150,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $127.55
  • 8 Days on Market
  • MLS # : 22172719
  • Updated Date : 02/24/2021 at 16:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

--Showings end Saturday, Please submit your Highest and Best Offer by Saturday End Of the Day -- Beautiful, very well kept home with a private yard and entry way, Galley Kitchen with granite countertops, Skylight, wood plank tile flooring all throughout the house, double pane windows, French doors, cozy den, granite fireplace, roof installed 2017 per seller, granite bathroom countertops, with a beautiful spacious backyard great for family gatherings. Per Seller NO previous flooding.

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: Autumn Run

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $93k301k

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

Neighborhood: Autumn Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7581867

* 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
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$521
Property Tax -$350
Property Insurance -$107
HOA -$37
Property Management Fees -$99
CASH FLOW
$167

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.

$150,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.6%
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$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$12,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,167

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2253$1,2804$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 6815 Heather Hollow Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.09
    •  
  • 17818 Glenwolf Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1981
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.96
    •  
  • 18530 Andalusian Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1982
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.02
    •  
  • 18606 Andalusian Drive Cypress, TX 4
    • 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1982
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
  • 6707 Bluebottle Lane Katy, TX 5
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1984
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Eve Canales
1.281.881.1805
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22172719
Last Updated: 02/24/2021
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