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17107 Cradle Cove Court Houston, TX 77095

4 Beds 3 Baths 2,450 sqft Built 1996

$249,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $101.63
  • 5 Days on Market
  • MLS # : 77879426
  • Updated Date : 02/04/2021 at 11:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Cul-De-Sac location means no through traffic! Beautiful 4-bedroom 2 story home in Copper Lakes. Enjoy oversized windows for natural light and an open concept floorplan, perfect for entertaining; both formals and high ceilings are just some outstanding features of this home. The kitchen boasts granite counters, ample cabinet/counter space and a stainless appliance package. All bedrooms are up and the primary suite features an en-suite bath w/dual vanities, walk-in shower w/separate tub and spacious walk-in closet. Upstairs is complete with 3 additional bedrooms that share a hall bath. Conveniently located close to many shopping, dining & entertainment options. And with easy access to 290 and Highway 6 your commute would be a breeze. Community amenities include pool, tennis courts, playground and walking trails. Zoned to Cy-Fair ISD. Don’t wait! Make this your next home

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: Copper Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $99k404k

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

Neighborhood: Copper Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692460

* 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
Copeland Elementary School Primary Regular 1,056 56 8
Aragon Middle School Middle Regular 1,548 84 9
Langham Creek High School High Regular 3,211 194 7

Copeland Elementary School

  • Education Level: Primary
  • # of students: 1,056
  • # of teachers: 56
8
GreatSchools Rating

Aragon Middle School

  • Education Level: Middle
  • # of students: 1,548
  • # of teachers: 84
9
GreatSchools Rating

Langham Creek High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 194
7
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$865
Property Tax -$567
Property Insurance -$193
HOA -$71
Property Management Fees -$99
CASH FLOW
$26

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.

$249,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8003$1,8204$1,8855$1,900
$1,900
RENT COMPS ANALYSIS
  • 17107 Cradle Cove Court Houston, TX 3
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.74
    •  
  • 17619 W Copper Lakes Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2001
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 7619 Almond Springs Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1991
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 17311 Emerald Isle Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 1991
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.74
    •  
  • 7723 Granite Ridge Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1990
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Martha Sanchez
1.832.529.2983
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77879426
Last Updated: 02/04/2021
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