24406 Drakefield Ct, Katy, TX 77494

This 2001 built, 4 bed / 2.5 bath property in Katy, TX makes sense for any rental investor, even in today's changing real estate market. Prime location, just outside of Houston!

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Location Details: 

1. Located in the prestigious, master planned Cinco Ranch neighborhood that has dozens of pools, a beach club, water park, golf, trails, lakes, tennis courts, parks, and more!
2. Zoned to Award-Winning Katy ISD! Griffin Elementary School, Cinco Ranch Junior High, and Cinco Ranch High School.
3. Walking distance to La Centerra shopping and restaurants (Trader Joe’s, Target, etc)
4. Easy access to Grand Parkway 99

Financials:

ARV: $440,000

Purchase Price: $346,000

Profit Details:

$440,000 ARV

(*) 94% for sale commissions

(-) $346,000 purchase price

(-) $15,000 rehab budget

(-) $5,000 closing / holding cost

(=) $47,600 profit

Rental Profit Details:

$2,380 monthly market rents

(-) $508 monthly tax

(-) $110 monthly insurance

(-) $238 property management

(-) $238 allocation for repairs, vacancy, etc

(=) $1,286 net monthly cash flow

Property Details:

4 Beds / 2.5 Bath

2001 Year Build

2,149 Home Square Feet

9,770 Lot Size

June 22nd, 2023 Closing

Vacant at Close

Roof 2003, but in good condition

HVAC 2019

Huge, beautiful property in a great location

Needs paint

Available for walkthoughs