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18223 Cypress Stone Lane Cypress, TX 77429

3 Beds 2 Baths 2,015 sqft Built 1999

$215,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $106.70
  • 4 Days on Market
  • MLS # : 62609700
  • Updated Date : 03/27/2021 at 19:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,015 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Charming 1-story Ryland home nestled in the established neighborhood of Cypress Mill. Well loved, one owner home! Quaint front porch overlooks front yard! Great open floor plan! Formal dining room w/picture window! Spacious family room w/gas log fireplace & wall of windows allows the natural light to flow into the space! Large island kitchen w/tons of cabinets & counterspace for storage w/breakfast bar & gas range! Primary bedroom is serene w/large picture window & bench seat for relaxing! En-suite features dual sink vanity w/knee space, separate glass enclosed shower & garden tub. Split plan offers a hallway just off the entry that leads to the secondary living spaces including a private study w/double doors, 2 secondary bedrooms & a full bath! Step outside & enjoy a backyard w/plenty of greenspace! This home has added privacy to the backyard w/a greenbelt barrier between it & other houses! Updates include recent roof in 2018 & more! (noted in pictures) Great CFISD Schools!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cypress Mill Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Cypress Mill Park

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
M Robinson Elementary School Primary Regular 1,101 62 7
Spillane Middle School Middle Regular 1,393 78 10
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

Spillane Middle School

  • Education Level: Middle
  • # of students: 1,393
  • # of teachers: 78
10
GreatSchools Rating

Cypress Woods High School

  • Education Level: High
  • # of students: 3,286
  • # of teachers: 178
9
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$747
Property Tax -$535
Property Insurance -$163
HOA -$50
Property Management Fees -$99
CASH FLOW
$66

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.

$215,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.5%
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

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$4,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6753$1,7004$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 18223 Cypress Stone Lane Cypress, TX 1
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.82
    •  
  • 14703 Plains River Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1998
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 14622 Palos Park Drive Cypress, TX 3
    • 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 1998
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 18310 Cobblestone Drive Cypress, TX 4
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1998
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 14718 Huntmont Drive Cypress, TX 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1997
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Amy Nabors
1.832.745.3994
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62609700
Last Updated: 03/27/2021
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