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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cypress Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,618
LOAN DETAILS
$693
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $49,875 |
| Loan Amount | $149,625 |
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
-
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
1.713.582.8779
Cb&a, Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 33726274
Last Updated: 01/08/2021
