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811 Admiral Bay Lane Katy, TX 77494

5 Beds 3 Baths 2,925 sqft Built 2007

$275,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $94.02
  • 3 Days on Market
  • MLS # : 18931382
  • Updated Date : 03/06/2021 at 09:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,925 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Premier Realty

Listing Agent's Description

An amazingly beautiful 5/2.5 bedroom home in the heart of Katy's Lakes at Grand Harbor. Close to I-10 and the Grand Parkway, shopping, restaurants, the new Katy Boardwalk District and zoned to fantastic schools that feed to Katy High School. With its open floorplan, you will love the bright, oversized kitchen with walk in pantry, double ovens, island and breakfast bar overlooking the family room and breakfast area featuring charming architectural details with modern touches. The covered patio is the perfect location for weekend get togethers. You will enjoy relaxing in the primary retreat which is spacious and features an ensuite bath and two walk-in closets. Come see this beautiful home quickly, it will not last long!

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: Estates at Grand Harbor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $105k372k

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

Neighborhood: Estates at Grand Harbor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10371923

* 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
West Memorial Elementary School Primary Regular 816 55 7
West Memorial Junior High School Middle Regular 756 53 6
Katy High School High Regular 3,065 176 7

West Memorial Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 55
7
GreatSchools Rating

West Memorial Junior High School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 53
6
GreatSchools Rating

Katy High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 176
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$955
Property Tax -$711
Property Insurance -$225
HOA -$56
Property Management Fees -$99
CASH FLOW
$94

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.

$275,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 2.6%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1404$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 811 Admiral Bay Lane Katy, TX 3
    • 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.73
    •  
  • 24427 Cornell Park Lane Katy, TX 1
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2006
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 827 Merlin Roost Katy, TX 2
    • 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2005
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 24515 Pelican Hill Drive Katy, TX 4
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2002
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 24311 Main Mast Court Katy, TX 5
    • 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2012
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Christy Bohlen
1.832.795.1915
Keller Williams Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18931382
Last Updated: 03/06/2021
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