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11119 Riata Canyon Drive Cypress, TX 77433

4 Beds 3 Baths 2,670 sqft Built 2006

$252,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $94.38
  • 12 Days on Market
  • MLS # : 40690217
  • Updated Date : 10/30/2020 at 16:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,670 sqft
  • Baths : 2 full , 1 half
Listing Agent

Key 2 Texas Realty

Listing Agent's Description

MUST SEE! Beautiful home nestled in the sought community of Riata West with all the convenience of nearby shopping and restaurants. Huge covered patio great for entertaining. Home is complete with 4 bedrooms, 2.5 bath, 2 car garage, formal dining and game room. Game room makes for a great home school work space, not to mention the wonderful natural lighting you get from all the windows!!! This home features tile that flows from the entry, dining, kitchen, breakfast and family room. Kitchen is complete with beautiful granite countertops, black appliances with a large counter height bar that opens to the family room. Owner's retreat is spacious with it's own private bath that includes separate tub/glass enclosed shower and dual sinks. Fresh paint throughout the home. No carpet at ALL!!! Laminate floors going up the stairs and in all secondary bedrooms including closets.

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
 

$226,800$277,200$252,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$930
Property Tax -$600
Property Insurance -$208
HOA -$42
Property Management Fees -$99
CASH FLOW
$72

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.

$252,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.77%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,530

INVESTMENT

$72,530

Down Payment
$63,000
Rehab Estimate
$5,750
Closing Costs
$3,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,000
Loan Amount $189,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,089

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 11119 Riata Canyon Drive Cypress, TX 2
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 10802 Creek Mist Drive Cypress, TX 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2006
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.66
    •  
  • 11718 E Streamertail Circle Cypress, TX 3
    • 4 beds 4 baths ∙ 2,562 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,562 Sqft ∙ Built 2016
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 11702 Cardinal Hills Court Cypress, TX 4
    • 4 beds 4 baths ∙ 2,508 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,508 Sqft ∙ Built 2016
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 17215 Verde Park Lane Cypress, TX 5
    • 4 beds 4 baths ∙ 2,720 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,720 Sqft ∙ Built 2016
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Crystle Neumann
1.832.217.0331
Key 2 Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40690217
Last Updated: 10/30/2020
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