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13115 Lake Mist Drive Cypress, TX 77429

4 Beds 3 Baths 2,369 sqft Built 1983

$299,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $126.21
  • 2 Days on Market
  • MLS # : 77075355
  • Updated Date : 07/12/2021 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,369 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Enjoy every moment spent in this gorgeous 4-bedroom, 2.5-bathroom home in Lakewood Glen, featuring brand new wood flooring, fresh paint, crown molding, wainscotting, built-ins, a wood burning fireplace, detached garage, game room, study, and formal dining room. The backyard has a large, covered patio and plenty of space for outdoor entertainment. Get creative in the kitchen, complete with a bay window, stone backsplash, breakfast bar, and undercabinet lighting. The spa-like primary suite boasts a walk-in closet, glass doors that lead to the backyard, and an updated bathroom with dual vanities and a jetted tub,. The community offers residents playgrounds, tennis courts, parks, and a swimming pool. Situated near Hwy 249 and Spring Cypress Rd., residents are minutes from the area’s best golf courses, shopping centers, and restaurants. Schools are zoned to the highly acclaimed Cypress-Fairbanks ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lakewood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k388k

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

Neighborhood: Lakewood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10722550

* 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
Hamilton Elementary School Primary Regular 966 53 9
Hamilton Middle School Middle Regular 1,641 89 10
Cy-fair High School High Regular 3,656 212 8

Hamilton Elementary School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 53
9
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,641
  • # of teachers: 89
10
GreatSchools Rating

Cy-fair High School

  • Education Level: High
  • # of students: 3,656
  • # of teachers: 212
8
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,039
Property Tax -$673
Property Insurance -$187
HOA -$77
Property Management Fees -$99
CASH FLOW
$26

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.

$299,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
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-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,369

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2704$2,3755$2,450
$2,450
RENT COMPS ANALYSIS
  • 13115 Lake Mist Drive Cypress, TX 1
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 11819 Amyford Bend Cypress, TX 2
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1997
    LEASED 06/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 13415 Tallow Glen Lane Cypress, TX 3
    • 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1999
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.97
    •  
  • 12959 Lemur Lane Cypress, TX 4
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1981
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.07
    •  
  • 13615 Lesota Court Cypress, TX 5
    • 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1998
    LEASED 06/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77075355
Last Updated: 07/12/2021
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