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18454 Westgate Springs Lane Cypress, TX 77433

3 Beds 3 Baths 1,693 sqft Built 2008

$199,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $117.54
  • 50 Days on Market
  • MLS # : 93745536
  • Updated Date : 11/22/2020 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southeast Texa

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: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k303k

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

Neighborhood: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10422060

* 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
Anthony Middle School Middle Regular 1,224 79 NA
Cypress Springs High School High Regular 2,942 186 5

Copeland Elementary School

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

Anthony Middle School

  • Education Level: Middle
  • # of students: 1,224
  • # of teachers: 79
NA
GreatSchools Rating

Cypress Springs High School

  • Education Level: High
  • # of students: 2,942
  • # of teachers: 186
5
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$691
Property Tax -$475
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$103

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.

$199,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$8,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 18454 Westgate Springs Lane Cypress, TX 1
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.89
    •  
  • 18319 Tuscana Shores Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2013
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 18314 Canary Bluff Lane Cypress, TX 3
    • 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 2014
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 8123 Gran Villa Drive Cypress, TX 4
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2010
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 18742 Westgate Park Drive Cypress, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2008
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tracie Conyers
1.409.499.8095
Keller Williams Southeast Texa
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 93745536
Last Updated: 11/22/2020
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