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18210 Hammondsport Lane Cypress, TX 77429

3 Beds 2 Baths 1,717 sqft Built 2004

$199,500

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $116.19
  • 4 Days on Market
  • MLS # : 33726274
  • Updated Date : 01/08/2021 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,717 sqft
  • Baths : 2 full
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Do not miss this awesome value in Cypress!!!!! This beautiful one story home features an open floor plan complete with a large kitchen and breakfast room with a bar, formal dining room, family room, and three nice sized bedrooms. Upgraded flooring with gray wood-look tile in all the common areas and new carpet in all of the bedrooms. New interior and exterior paint. HVAC system, and roof were all recently replaced. The spacious backyard features a concrete patio and storage shed. The refrigerator, washer, and dryer are included. Schedule your showing today. This updated home is ready to move into today and will not last long at all!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cypress Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Cypress Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9902063

* 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
M Robinson Elementary School Primary Regular 1,101 62 7
Goodson Middle School Middle Regular 1,265 69 8
Cypress Woods High School High Regular 3,286 178 9

M Robinson Elementary School

  • Education Level: Primary
  • # of students: 1,101
  • # of teachers: 62
7
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
 

$179,550$219,450$199,500

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$693
Property Tax -$496
Property Insurance -$143
HOA -$25
Property Management Fees -$99
CASH FLOW
$33

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.

$199,500

PROJECTED PRICE

$1,490

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.4%
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

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$58,618

INVESTMENT

$58,618

Down Payment
$49,875
Rehab Estimate
$5,750
Closing Costs
$2,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$693

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,875
Loan Amount $149,625
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$3,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5753$1,5754$1,5755$1,590
$1,590
RENT COMPS ANALYSIS
  • 18210 Hammondsport Lane Cypress, TX 1
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.87
    •  
  • 18223 Jills Way Lane Cypress, TX 2
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.86
    •  
  • 18223 Hammondsport Lane Cypress, TX 3
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.86
    •  
  • 15823 Kings Cypress Lane Cypress, TX 4
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.86
    •  
  • 18211 Hammondsport Lane Cypress, TX 5
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2003
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tommy Ruland
1.713.582.8779
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 #: 33726274
Last Updated: 01/08/2021
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