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15015 Zenith Glen Lane Cypress, TX 77429

3 Beds 3 Baths 2,744 sqft Built 2007

$258,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $94.02
  • 42 Days on Market
  • MLS # : 15112332
  • Updated Date : 02/23/2021 at 21:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,744 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Charming one story 3 bedroom home has a beautiful foyer and radiates with natural light. Enjoy the gameroom or this extra large room for a formal area to relax. Spacious floorplan with high ceilings and arched entries with tile throughout high traffic areas. Outstanding kitchen has gorgeous granite with plenty of cabinet space that is open to a huge living area with a cozy fireplace that has enough space for elegant dining. Primary bedroom has a nice ensuite with double sinks, separate spa tub, shower and a large walk in closet. Secondary bedrooms are separate from the primary. Work from home in a great separate study with glass French doors that could be a 4th bedroom. Home has a small fenced backyard with low maintenance and a community park within walking distance located at the front entrance. Great location with access to 99 Grand Parkway, Beltway 8, Highway 290 and 249. NO FLOODING! This home won't last long! Schedule your showing today!

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: Grant Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Grant Meadows

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
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
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$896
Property Tax -$664
Property Insurance -$213
HOA -$34
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.

$258,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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-$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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$896

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,085

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9704$1,9995$2,200
$2,200
RENT COMPS ANALYSIS
  • 15015 Zenith Glen Lane Cypress, TX 3
    • 3 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,744 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.72
    •  
  • 13919 Tribe Drive Cypress, TX 1
    • 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 2005
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 14603 Lothbury Drive Cypress, TX 2
    • 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2004
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 17919 Dappled Walk Way Cypress, TX 4
    • 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2012
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.78
    •  
  • 14410 Sioux Run Cypress, TX 5
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2004
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
PROPERTY LISTING DETAILS
Sherry Sykes
1.832.647.7649
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 #: 15112332
Last Updated: 02/23/2021
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