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13622 Northpointe Ridge Lane Cypress, TX 77429

3 Beds 2 Baths 2,094 sqft Built 2007

$215,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $102.67
  • 3 Days on Market
  • MLS # : 65619013
  • Updated Date : 02/12/2021 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,094 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

THIS WILL NOT LAST LONG!!! Fantastic opportunity to have your own lakefront home in the very desirable Lakes of Northpointe subdivision. This great one story is listed below market value and is being sold AS-IS. Features include a huge master bedroom with the adjoining master bath that offers updated dual sinks and a lovely framed mirror. In the kitchen, you will find high-end stainless steel appliances, lots of 42” cabinets, and granite countertops. The kitchen is also open to the large family room. The roof was replaced in 2018.

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: Lakes at Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k358k

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

Neighborhood: Lakes at Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Lakewood Elementary School Primary Regular 770 45 8
Willow Wood Junior High School Middle Regular 1,028 54 9
Tomball Memorial High School High Regular 1,942 103 9

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 45
8
GreatSchools Rating

Willow Wood Junior High School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 54
9
GreatSchools Rating

Tomball Memorial High School

  • Education Level: High
  • # of students: 1,942
  • # of teachers: 103
9
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$747
Property Tax -$608
Property Insurance -$169
HOA -$64
Property Management Fees -$99
CASH FLOW
$64

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.

$215,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$3,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7504$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 13622 Northpointe Ridge Lane Cypress, TX 4
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 13615 Trailmeadow Court Cypress, TX 1
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 14127 Englewood Park Lane Cypress, TX 2
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2007
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 13523 Northsun Lane Cypress, TX 3
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2005
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 13418 Barons Lake Lane Cypress, TX 5
    • 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2007
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
PROPERTY LISTING DETAILS
David Jordan
1.832.878.7844
Re/max Preferred Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65619013
Last Updated: 02/12/2021
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