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14334 Cypress Ridge Dr Drive Cypress, TX 77429

4 Beds 3 Baths 2,387 sqft Built 1993

$247,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $103.48
  • 2 Days on Market
  • MLS # : 53566727
  • Updated Date : 01/09/2021 at 23:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,387 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb&a, Realtors

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: Fairwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Fairwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10462063

* 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
Black Elementary School Primary Regular 1,077 55 8
Hamilton Middle School Middle Regular 1,641 89 10
Cy-fair High School High Regular 3,656 212 8

Black Elementary School

  • Education Level: Primary
  • # of students: 1,077
  • # of teachers: 55
8
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
 

$222,300$271,700$247,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$858
Property Tax -$636
Property Insurance -$189
Property Management Fees -$99
CASH FLOW
$79

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.

$247,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.2%
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$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,945

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8503$1,8604$1,9505$2,150
$2,150
RENT COMPS ANALYSIS
  • 14334 Cypress Ridge Dr Drive Cypress, TX 3
    • 4 beds 3 baths ∙ 2,387 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,387 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.78
    •  
  • 14614 Cypress Falls Drive Cypress, TX 1
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1991
    property image
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 13619 Northpointe Ridge Lane Cypress, TX 2
    • 5 beds 3 baths ∙ 2,324 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,324 Sqft ∙ Built 2006
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 15002 Redding Crest Lane Cypress, TX 4
    • 3 beds 2 baths ∙ 2,448 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,448 Sqft ∙ Built 2007
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 14043 Fairwood Breeze Cypress, TX 5
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 1997
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sabrina Larson
1.832.881.7218
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 53566727
Last Updated: 01/09/2021
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