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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairfield Village West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,682
LOAN DETAILS
$918
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,200 |
| Loan Amount | $186,600 |
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
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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
1.832.549.5422
Realty Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 28930863
Last Updated: 12/26/2020
