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19927 Cypresswood Glen Spring, TX 77373

3 Beds 2 Baths 1,475 sqft Built 2002

INVESTimate

$184,500

List Price

$1,450

$1,305 - $1,595

Rent Est.

$201,179  ( +9.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $125.08
  • 4 Days on Market
  • MLS # : 91841221
  • Updated Date : 08/23/2020 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,475 sqft
  • Baths : 2 full
Listing Agent

Trichardson, Realtors

Listing Agent's Description

Beautiful Glass back splash in this open kitchen with an island and high ceilings. Great adjoining dining area is perfect for mealtime. Freshly painted. Light and bright one story with inside laundry and pantry. Start the school year out here-in your new home. Room sizes are approx. Ideal Split floor plan With primary bedroom on back of home...Also for lease at $1695.00 per month. Minutes to I45, Grand Parkway or Hardy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cypresswood Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Cypresswood Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10062063

* 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
Ginger Mcnabb Elementary School Primary Regular 704 49 3
Twin Creeks Middle School Middle Regular 1,000 63 6
Spring High School High Regular 3,339 173 3

Ginger Mcnabb Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 49
3
GreatSchools Rating

Twin Creeks Middle School

  • Education Level: Middle
  • # of students: 1,000
  • # of teachers: 63
6
GreatSchools Rating

Spring High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 173
3
GreatSchools Rating
 

$166,050$202,950$184,500

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$681
Property Tax -$428
Property Insurance -$127
HOA -$51
Property Management Fees -$99
CASH FLOW
$64

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.

$184,500

PROJECTED PRICE

$1,450

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.04%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,643

INVESTMENT

$54,643

Down Payment
$46,125
Rehab Estimate
$5,750
Closing Costs
$2,768

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$681

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,125
Loan Amount $138,375
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4754$1,5505$1,560
$1,560
RENT COMPS ANALYSIS
  • 19927 Cypresswood Glen Spring, TX 2
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 726 Cypresswood Cove Spring, TX 1
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2001
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 19907 Cypresswood Glen Spring, TX 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2002
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 20335 Cypresswood Glen Spring, TX 4
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2003
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 19946 Cypresswood Glen Spring, TX 5
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2004
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.98
    •  
PROPERTY LISTING DETAILS
Tracey Richardson
1.281.706.5938
Trichardson, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91841221
Last Updated: 08/23/2020
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