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15311 Knotty Chestnut Street Cypress, TX 77429

4 Beds 3 Baths 2,390 sqft Built 2014

$289,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $120.92
  • 2 Days on Market
  • MLS # : 77286374
  • Updated Date : 07/12/2021 at 23:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 2 full , 1 half
Listing Agent

Utr Texas, Realtors

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k306k

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

Neighborhood: Cypress

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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,004
Property Tax -$550
Property Insurance -$189
HOA -$35
Property Management Fees -$99
CASH FLOW
$224

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.

$289,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$18,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9754$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 15311 Knotty Chestnut Street Cypress, TX 4
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 14911 Twilight Knoll Trail Cypress, TX 1
    • 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2014
    property image
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 14211 Mohican Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,312 Sqft ∙ Built 2007
    property image
    LEASED 04/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
  • 14415 Dakota Bend Drive Cypress, TX 3
    • 3 beds 2 baths ∙ 2,264 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,264 Sqft ∙ Built 2011
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.87
    •  
  • 17815 Misty Pond Court Cypress, TX 5
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2009
    property image
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Angelica Villa
1.281.848.9619
Utr Texas, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77286374
Last Updated: 07/12/2021
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