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10718 Woodwind Shadows Drive Cypress, TX 77433

3 Beds 2 Baths 1,266 sqft Built 2012

$189,500

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $149.68
  • 2 Days on Market
  • MLS # : 41536270
  • Updated Date : 12/19/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Home has been remodeled and is adorable! The high ceilings add to the spaciousness and open concept. Kitchen is open to family room with stainless appliances and fridge/w/d stay! Dark cabinets have brushed nickel pulls for an updated look and large windows for natural lighting. The plan is split with the large primary bedroom at the back of the home. The primary bath has a walk in shower, dual sinks and huge walk in closet! Both secondary bedrooms are nice size and the hall bath is also updated with a step shower and updated vanity. There are ceiling fans and 2" blinds and home is super clean! The a/c air handler was replaced around 2017/18. And there are no back neighbors against a terrific backyard with space for the kids or pets to run. Lovely and quiet community is located close to shopping, restaurants and major highways. Check this one out quick!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Riata West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Riata West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10682063

* 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
Woodard Elementary School Primary Regular NA
Spillane Middle School Middle Regular 1,393 78 10
Cypress Ranch High School High Regular 3,456 194 9

Woodard Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Spillane Middle School

  • Education Level: Middle
  • # of students: 1,393
  • # of teachers: 78
10
GreatSchools Rating

Cypress Ranch High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 194
9
GreatSchools Rating
 

$170,550$208,450$189,500

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$699
Property Tax -$451
Property Insurance -$113
HOA -$42
Property Management Fees -$99
CASH FLOW
$86

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.

$189,500

PROJECTED PRICE

$1,490

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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

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$55,968

INVESTMENT

$55,968

Down Payment
$47,375
Rehab Estimate
$5,750
Closing Costs
$2,843

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$699

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,375
Loan Amount $142,125
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$8,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,358

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,6003$1,6004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 10718 Woodwind Shadows Drive Cypress, TX 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.18
    •  
  • 11102 Creek Mist Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2009
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 17922 Alora Springs Trace Cypress, TX 3
    • 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2017
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 10818 Barker View Drive Cypress, TX 4
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2012
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 10431 Oleander Point Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 2004
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
PROPERTY LISTING DETAILS
Velvet Harris
1.832.444.5652
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41536270
Last Updated: 12/19/2020
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