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10919 Barker Gate Court Cypress, TX 77433

3 Beds 3 Baths 1,920 sqft Built 2008

$220,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $114.58
  • 4 Days on Market
  • MLS # : 14634977
  • Updated Date : 11/05/2020 at 15:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Associates

Listing Agent's Description

Beautiful, well-kept 3-bedroom home waiting for a new family. Tile, Wood, and Carpet throughout. Back Patio. Play Set in backyard stays. Close proximity to the Houston Premium Outlets. Close to HWY 290 and 99-Grand Parkway. Large backyard. No flooding with current owners. Home is newly renovated. Located in a Cul-de-Sac street. Stainless Appliances, Granite Counters, Wood Floors. Open floor-plan. Large Primary Bedroom. Upstairs Gameroom for family enjoyment. Highly-rated Schools. Close to shopping, dining, and entertainment.

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: 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$812
Property Tax -$524
Property Insurance -$157
HOA -$42
Property Management Fees -$99
CASH FLOW
$47

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.

$220,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.76%

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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6804$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 10919 Barker Gate Court Cypress, TX 3
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.88
    •  
  • 10903 Woodwind Shadows Drive Cypress, TX 1
    • 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2013
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 10834 Woodwind Shadows Drive Cypress, TX 2
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2012
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 17303 Verde Park Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2016
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 10903 Barker Gate Court Cypress, TX 5
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2011
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Steven Floyd
1.281.743.3860
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 14634977
Last Updated: 11/05/2020
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