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16906 Jelly Park Stone Drive Cypress, TX 77429

4 Beds 3 Baths 2,791 sqft Built 2008

$265,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $94.95
  • 3 Days on Market
  • MLS # : 7434416
  • Updated Date : 01/22/2021 at 11:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,791 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Vintage

Listing Agent's Description

Gorgeous four bedroom home in Park Creek! Spacious formal dining room with french doors is at the front of the home with large windows and would be perfect for a downstairs study. Family room with charming gas fireplace is open to the kitchen. Kitchen hosts spacious pantry, granite countertops, lots of cabinets, and breakfast nook with access to the backyard and covered patio. Half bath and laundry room is downstairs with entrance to attached garage. Spacious master retreat is tucked away on the first floor with large walk-in closet and master spa. Upstairs hosts a massive game room with an attached study with french doors. Three secondary bedrooms with large closets and secondary bathroom are on the second floor. Backyard has tons of space, covered patio, planting boxes, and spacious side yards.

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: 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
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$920
Property Tax -$639
Property Insurance -$216
HOA -$46
Property Management Fees -$99
CASH FLOW
$119

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.

$265,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.77%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$2,0404$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 16906 Jelly Park Stone Drive Cypress, TX 3
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.73
    •  
  • 16342 Melody View Court Cypress, TX 1
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 15238 Olmstead Park Drive Cypress, TX 2
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2006
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 16918 Sedum Green Cypress, TX 4
    • 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2015
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 16938 Sedum Grn Cypress, TX 5
    • 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 2015
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michele Harmon
1.713.818.1330
Re/max Vintage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7434416
Last Updated: 01/22/2021
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