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20934 Ochre Willow Trail Cypress, TX 77433

4 Beds 3 Baths 2,754 sqft Built 2004

$275,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $99.85
  • 3 Days on Market
  • MLS # : 77222661
  • Updated Date : 11/07/2020 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

Welcome home to this gorgeous Perry Home built 2 story w/ HUGE BACK YARD and 2 car extended detached garage with new exterior paint in the well sought-after Fairfield! You will fall in love with this house the moment you walk in and notice the new carpet. Other features include wood laminate flooring in the large dining room, large island kitchen with custom 42-inch cabinets that’s open to the oversized family room for easy entertaining. You will enjoy getting a good night's sleep in the spacious master bedroom and you will love the size of the HUGE master closet. The family will enjoy spending time in the large Gameroom upstairs. Other updates/upgrades include recent garage door opener, extended garage to the back and left side, extended back patio, and upgraded ceiling fans in all the bedrooms. Close to great schools, shopping, recreation, neighborhood amenities, parks, sidewalks, pools + grand parkway/290.

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: Fairfield Village South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Fairfield Village South

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
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 Regular 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

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,015
Property Tax -$551
Property Insurance -$213
HOA -$81
Property Management Fees -$99
CASH FLOW
$161

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

$2,120

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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-$4.0k-$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,231

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1204$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 20934 Ochre Willow Trail Cypress, TX 3
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.77
    •  
  • 22202 Buttercup Fields Trail Cypress, TX 1
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2017
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 16227 Field Haze Trail Cypress, TX 2
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 16226 Field Haze Trail Cypress, TX 4
    • 4 beds 4 baths ∙ 2,794 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,794 Sqft ∙ Built 2006
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 20910 Ochre Willow Trail Cypress, TX 5
    • 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 2004
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
David Jordan
1.832.878.7844
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 #: 77222661
Last Updated: 11/07/2020
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