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14715 Palladio Drive Cypress, TX 77429

3 Beds 2 Baths 1,577 sqft Built 2009

$210,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $133.16
  • 3 Days on Market
  • MLS # : 58180579
  • Updated Date : 01/16/2021 at 23:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Multiple Offers Already! Please submit the best and highest offer by 5 pm tomorrow, Sunday, 1/17. Very cozy D.R Horton one story home located in Village on Grant. With open frame porch, formal dinning, kitchen with island open to family room, 3 bed, 2 full bath, enjoy the beautiful time with your family and your loved ones! Nice backyard with covered patio and some fruit trees are awaiting for you and your family! Easy access to Hwy249 and 99 grand parkway. Minutes away from HEB shopping Plaza and restaurants. Zoned to highly sought-after CFISD. Home has never flooded per seller.

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: Villages on Grant

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Villages on Grant

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10502063

* 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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$729
Property Tax -$541
Property Insurance -$134
HOA -$29
Property Management Fees -$99
CASH FLOW
$108

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.

$210,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 8.7%
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-$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,6004$1,6405$1,750
$1,750
RENT COMPS ANALYSIS
  • 14715 Palladio Drive Cypress, TX 4
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.04
    •  
  • 15543 Lady Shery Lane Cypress, TX 1
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2006
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.06
    •  
  • 15522 Anton Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 14714 Salamanca Court Cypress, TX 3
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2008
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 14706 Salamanca Court Cypress, TX 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Shan Wang
1.713.321.8119
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58180579
Last Updated: 01/16/2021
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