Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15823 Little Miss Creek Drive Cypress, TX 77429

3 Beds 3 Baths 2,292 sqft Built 2008

$210,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $91.62
  • 4 Days on Market
  • MLS # : 93717153
  • Updated Date : 01/23/2021 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,292 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alta Realty Company, Llc

Listing Agent's Description

Seeking to put your personal touches on a home? Schedule your tour today. This home offers the ability for any buyer or investor to make it their own. From the open floor plan, to the kitchen & open stairs. This homes has a lot of character. Nestled right in the middle of 290 & 249 this property will not last.

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$729
Property Tax -$541
Property Insurance -$182
HOA -$35
Property Management Fees -$99
CASH FLOW
$174

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.

$210,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.84%

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-$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$11,200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7604$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 15823 Little Miss Creek Drive Cypress, TX 3
    • 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.77
    •  
  • 15706 Forest Creek Farms Drive Cypress, TX 1
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2009
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 16015 Heights Harvest Lane Cypress, TX 2
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2011
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 15122 Blackburn Cove Court Cypress, TX 4
    • 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 2005
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 15238 Springhill Bend Lane Cypress, TX 5
    • 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 2003
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
PROPERTY LISTING DETAILS
Alexis Ceasar-white
1.713.349.4884
Alta Realty Company, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 93717153
Last Updated: 01/23/2021
BESbswy