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15322 Brock Creek Way Cypress, TX 77429

3 Beds 3 Baths 1,708 sqft Built 2006

$215,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $125.88
  • 2 Days on Market
  • MLS # : 91083599
  • Updated Date : 02/06/2021 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

This beautiful home is a MUST SEE!! It boasts 3 beds/2.5 baths with the primary bed/bath located down and 2 secondary rooms,bathroom, and a game-room up.The 2 story high ceilings and abundance of windows in the family room make it so bright and enhance the open concept feel of this home showing off the wood look tile floors. There is a gorgeous hand made, granite topped vanity in the half bath downstairs.The dining room is perfectly situated between the family room and large kitchen which has granite counters,subway tile backsplash, and tons of cabinet space.The primary bath is beautiful and features granite counters,separate shower/jetted tub,updated fixtures, and dual sinks.Out back you'll find an over-sized patio,large fully fenced yard,NO back neighbors, and a gate to the walking trail/green space.This quiet, friendly neighborhood has a gorgeous pool for it's homeowners and it's so close to 290 & 99!! Did I mention Cy-Fair schools!! NEVER FLOODED!! New A/C 2016 and new roof 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Forest Creek Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k305k

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

Neighborhood: Forest Creek Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9782063

* 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
Goodson Middle School Middle Regular 1,265 69 8
Cypress Woods High School High Regular 3,286 178 9

Black Elementary School

  • Education Level: Primary
  • # of students: 1,077
  • # of teachers: 55
8
GreatSchools Rating

Goodson Middle School

  • Education Level: Middle
  • # of students: 1,265
  • # of teachers: 69
8
GreatSchools Rating

Cypress Woods High School

  • Education Level: High
  • # of students: 3,286
  • # of teachers: 178
9
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$747
Property Tax -$553
Property Insurance -$143
HOA -$33
Property Management Fees -$99
CASH FLOW
$55

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.

$215,000

PROJECTED PRICE

$1,630

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,5503$1,6254$1,6305$1,700
$1,700
RENT COMPS ANALYSIS
  • 15322 Brock Creek Way Cypress, TX 4
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.95
    •  
  • 15415 Forest Creek Farms Drive Cypress, TX 1
    • 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.92
    •  
  • 15419 Forest Creek Farms Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 15726 Forest Creek Farms Drive Cypress, TX 3
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 15802 Sarasam Creek Court Cypress, TX 5
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2010
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Tammy Hilgar
1.832.482.5620
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 #: 91083599
Last Updated: 02/06/2021
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