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$399,500

Under Contract
24403 Condors Nest, Katy, TX 77494
4 Beds
0 Baths
2,638 Square Feet
0.00 Acres Lot
Built in 2005
Under Contract
Units n/a
Checked: 14 hours ago
Updated: Jul 18, 2025 at 04:12AM

Investment Summary


Monthly Cash Flow
-$858
Cap Rate
3.1%
Cash-on-Cash Return
-11.2%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-6.9%

Property Description


0.00 Acres Lot
Built in 2005
Under Contract
Units n/a

Welcome to this beautiful corner-lot home in Falcon Rock w/4bedrooms,2.5baths & 2-car garage. From the charming front porch to the showstopping backyard,this home has it all!Formal living/formal dining combo w/laminate flooring,sprawling family room w/soaring ceilings.The kitchen features gas range,s/s appliances,granite countertops,spacious pantry & ample cabinetry,plus adjacent breakfast area. Downstairs primary suite offers large windows,ceiling fan,ensuite bath w/soaking tub,separate shower & walk-in closet. Upstairs includes a versatile gameroom & 3 generously sized bedrooms. Step outside & fall in love—the backyard is an entertainer’s dream w/covered patio,outdoor fireplace & built-in brick kitchen area.Zoned to award-winning Katy ISD schools & ideally located near I-10,Grand Pkwy(99) & Westpark Toll. Close to schools,restaurants,shopping & golf. Both A/C units replaced in 2021 & new roof scheduled soon. Don’t miss this one!

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Location


Property Details


Parking

  • Description: Attached, Garage, GarageDoorOpener
  • Details: Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: Falcon Rock
  • HOA Fee: $285/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 1257960010108
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 2005

Tax Information

  • Annual Tax: $8,840

Utilities

  • Heating: Central, Natural Gas
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Harris

Listing Details


Listed by:
Amber Gill
RE/MAX Grand
(281) 808-5260

Source:
Houston Association of REALTORS
MLS#: 85653023
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$858
Cap Rate
3.1%
Cash-on-Cash Return
-11.2%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-6.9%

Purchase Details

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Purchase price:
$399,500
Amount financed:
-$319,600
Down payment:
$79,900
Closing costs:
$11,985
Rehab costs:
$0
Initial cash invested:
$91,885
Square feet:
2,638
Cost per square foot:
$151
Monthly rent per square foot:
$0.99

Financing Details

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Loan amount:
$319,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,891
Property tax:
$737
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,810

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (28%)
28%-$737-$8,840
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (1%)
1%-$24-$288
Total operating expenses: (54%)
54%-$1,411-$16,928

Cash Flow


Monthly Yearly
Net operating income:
$1,033 $12,396
Mortgage payments:
-$1,891 -$22,692
Cash flow:
$858 $10,296