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15134 Red Cedar Cove Lane Cypress, TX 77433

3 Beds 2 Baths 2,008 sqft Built 1996

$229,999

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $114.54
  • 3 Days on Market
  • MLS # : 10437560
  • Updated Date : 11/06/2020 at 08:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,008 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

One Story Lennar with a Wonderful Open Floorplan. This Well Maintained Home Features 3 Bedroom, 2 Bath Large Island Kitchen with Breakfast Bar Open to the Oversized Den that includes a Corner Gas Log / Wood Burning Fireplace. The Split Floorplan has a Primary Suite with Whirlpool Tub, Separate Shower and Double Sink Vanity. Good Sized Back Yard with Extended Patio. Property is located in a Master Planned Community with Award Winning Schools and Easy Freeway Access.

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: Fairfield Inwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Fairfield Inwood Park

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
Ault Elementary School Primary Regular 1,010 51 8
Dr Cheryl Corbett Salyards Middle School Middle Unknown 1,544 80 NA
Bridgeland High School High Regular NA

Ault Elementary School

  • Education Level: Primary
  • # of students: 1,010
  • # of teachers: 51
8
GreatSchools Rating

Dr Cheryl Corbett Salyards Middle School

  • Education Level: Middle
  • # of students: 1,544
  • # of teachers: 80
NA
GreatSchools Rating

Bridgeland High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$206,999$252,999$229,999

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$849
Property Tax -$491
Property Insurance -$163
HOA -$80
Property Management Fees -$99
CASH FLOW
$48

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.

$229,999

PROJECTED PRICE

$1,730

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,499
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,762

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7303$1,7504$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 15134 Red Cedar Cove Lane Cypress, TX 2
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.86
    •  
  • 19854 Sloan Ridge Lane Cypress, TX 1
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2013
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 14935 Vinegrove Falls Court Cypress, TX 3
    • 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 2014
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 15115 Trumpet Vine Lane Cypress, TX 4
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.82
    •  
  • 14911 Vinegrove Falls Court Cypress, TX 5
    • 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 2014
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mike Schroeder
1.281.373.4300
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 #: 10437560
Last Updated: 11/06/2020
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