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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.

$66,700

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.8%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.3%
Cash Flow	$576
Value Increase	$13,603

10 YEAR

Cash On Cash	-3.7%
Total Return	9.3%

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.

15134 Red Cedar Cove Ln

Cypress, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Fairfield Inwood Park

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

Neighborhood: Fairfield Inwood Park

* 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

GreatSchools Rating

Dr Cheryl Corbett Salyards Middle School

Education Level: Middle
# of students: 1,544
# of teachers: 80

GreatSchools Rating

Bridgeland High School

Education Level: High
# of students:
# of teachers:

GreatSchools Rating

FINANCIALS

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$206,999$252,99900$229,999

PURCHASE PRICE

$1,557$1,90300$1,730

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

4.25%

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

2,008
PROPERTY SQFT
$0.88
AVG RENT PER SQFT
$1,762
ESTIMATED VALUE
$1,730
LIST RENT

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
Price

Price Per SQFT

$229,999

$114.54
14911 Chestnut Falls Drive Cypress, TX 1

3 beds 3 baths ∙ 2,029 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 1992
SOLD 07/17/20
Price

Price Per SQFT

$219,900

$108.38
20414 Peach Mountain Lane Cypress, TX 3

3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1994
SOLD 06/24/20
Price

Price Per SQFT

$235,000

$125.80
15231 Hillside Park Way Cypress, TX 4

3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1989
SOLD 10/23/20
Price

Price Per SQFT

$238,900

$117.68
15327 Chestnut Falls Drive Cypress, TX 5

3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1990
SOLD 07/15/20
Price

Price Per SQFT

$246,000

$115.49

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

15134 Red Cedar Cove Lane Cypress, TX 77433

$229,999

$1,730

$66,700

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Ault Elementary School

Dr Cheryl Corbett Salyards Middle School

Bridgeland High School

FINANCIALS

$206,999$252,99900$229,999

$1,557$1,90300$1,730

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$229,999

$1,730

0.75%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$849

2.83

$6,241

$229,999

$114.54

$234,610

$116.84

COMPS RANGE

PRICE COMPS ANALYSIS

$1,730

$0.86

$1,762

$0.88

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS