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20439 Fairfield Park Way Cypress, TX 77433

4 Beds 3 Baths 2,208 sqft Built 1999

$275,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $124.55
  • 2 Days on Market
  • MLS # : 5737557
  • Updated Date : 07/13/2021 at 11:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,208 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

Good Home in the Popular Master Planned Community of Fairfield! Four Bedrooms, Primary Down with a Nice Sized Bathroom and Walk-in Closet. The Upstairs is Accompanied by Three Bedrooms and a Game Room. The Downstairs has Tile in all Wet Areas and Wood Laminate Flooring in Family Room. The Kitchen Features a Counter Bar that is Open to the Breakfast and Den Area. Large Covered Patio overlooking the Back Yard. Wonderful Location close to the Schools!

SEE MORE

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: Trails of Fairfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Trails of Fairfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722122

* 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
Keith Elementary School Primary Regular 1,095 53 9
Dr Cheryl Corbett Salyards Middle School Middle Unknown 1,544 80 NA
Bridgeland High School High Unknown NA

Keith Elementary School

  • Education Level: Primary
  • # of students: 1,095
  • # of teachers: 53
9
GreatSchools Rating

Dr Cheryl Corbett Salyards Middle School

  • Education Level: Middle
  • # of students: 1,544
  • # of teachers: 80
NA
GreatSchools Rating

Bridgeland High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$955
Property Tax -$523
Property Insurance -$176
HOA -$80
Property Management Fees -$99
CASH FLOW
$176

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.

$275,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.7%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$14,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0103$2,1004$2,1505$2,175
$2,175
RENT COMPS ANALYSIS
  • 20439 Fairfield Park Way Cypress, TX 2
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.91
    •  
  • 20202 Emily Anne Court Cypress, TX 1
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2000
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 21111 Golden Sycamore Trail Cypress, TX 3
    • 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2003
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 20814 Golden Sycamore Trail Cypress, TX 4
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
  • 20831 Ochre Willow Trail Cypress, TX 5
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 2004
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mike Schroeder
1.281.373.4300
Re/max Preferred Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5737557
Last Updated: 07/13/2021
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