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21618 S Twinberry Field Drive Cypress, TX 77433

3 Beds 3 Baths 2,271 sqft Built 2005

$248,800

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $109.56
  • 2 Days on Market
  • MLS # : 28930863
  • Updated Date : 12/26/2020 at 23:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,271 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Associates

Listing Agent's Description

THIS "OPEN CONCEPT" LENNAR BEAUTY IS ALL DRESSED UP & READY TO SHOW!!! THIS ELEGANT & POPULAR "EDINBURG" PLAN IS A "MUST SEE" & IS LOADED WITH UPGRADES GALORE*ULTRA HIGH END CUSTOM 5" WALNUT HARD WOOD FLOORING IS FOUND THROUGHOUT THE MAIN LIVING AREAS INCL THE PRIMARY BEDROOM LOCATED ON THE 1ST FLOOR*EXTENSIVE CROWN MOLDING W SOARING CEILINGS*CUSTOM DRAPERIES & WOOD BLINDS CONVEY WITH THE HOME*AN ADDITIONAL LARGE WINDOW WAS INSTALLED IN THE UPSTAIRS GUEST BEDROOM ALLOWING THE NATURAL LIGHT IN*ANOTHER UPGRADE TO THIS PLAN IS THE OPEN BANISTER STAIR RAILS OPEN TO THE DOWNSTAIRS DEN & LARGE UPSTAIRS GAMEROOM*CEILING FANS THROUGHOUT*HOME WAS RECENTLY PAINTED & ALL NEW FRIEZE' CARPET INSTALLED IN ENTIRE UPSTAIRS THIS MONTH*THE OVERSIZED COVERED PATIO IS A DREAM & ALLOWS YOU TO TRULY ENJOY YOUR HUGE BACKYARD WHICH IS COMPLETELY PRIVATE W "NO BACK NEIGHBORS" BUT THE BIRDS!!!AUTOMATIC SPRINKLER SYSTEM FRONT & BACK

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 West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k341k

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

Neighborhood: Fairfield Village West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722292

* 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
Swenke Elementary School Primary Regular 1,195 61 10
Dr Cheryl Corbett Salyards Middle School Middle Unknown 1,544 80 NA
Bridgeland High School High Regular NA

Swenke Elementary School

  • Education Level: Primary
  • # of students: 1,195
  • # of teachers: 61
10
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
 

$223,920$273,680$248,800

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$918
Property Tax -$590
Property Insurance -$205
HOA -$85
Property Management Fees -$99
CASH FLOW
$142

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.

$248,800

PROJECTED PRICE

$2,040

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,682

INVESTMENT

$71,682

Down Payment
$62,200
Rehab Estimate
$5,750
Closing Costs
$3,732

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,200
Loan Amount $186,600
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$2,0003$2,0404$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 21618 S Twinberry Field Drive Cypress, TX 3
    • 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.77
    •  
  • 21822 Field Green Drive Cypress, TX 1
    • 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
  • 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
    •  
  • 14822 Yellow Begonia Drive Cypress, TX 4
    • 4 beds 4 baths ∙ 2,652 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,652 Sqft ∙ Built 2009
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 14610 Raleighs Meadow Court Cypress, TX 5
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2016
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
PROPERTY LISTING DETAILS
Patricia Fleming
1.832.549.5422
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 28930863
Last Updated: 12/26/2020
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