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2811 Cypress Island Drive Houston, TX 77073

3 Beds 2 Baths 1,255 sqft Built 2006

$164,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $131.39
  • 3 Days on Market
  • MLS # : 30938919
  • Updated Date : 11/27/2020 at 13:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Situated right in front of the Mercer Botanic Gardens in the quiet community of Cypress Terrace, this charming home features high ceilings, wood flooring, and a private primary suite with a walk-in closet and frameless shower. Take your culinary abilities to new heights in the stunning kitchen, complete with quartz countertops, a mosaic backsplash, and gas range. Spend a nice day practicing your golf swing at the Cypresswood Golf Club or exploring Old Town Spring. Enjoy easy access to The Woodlands and Downtown Houston via I-45 and the Hardy Toll Road. Schools are zoned to Aldine ISD. This home is perfect for you – call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cypress Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Cypress Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8691677

* 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
Magrill Elementary School Primary Regular 1,189 63 4
Lewis Middle School Middle Regular 1,025 64 4
Nimitz Ninth Grade School High Regular 692 51 2

Magrill Elementary School

  • Education Level: Primary
  • # of students: 1,189
  • # of teachers: 63
4
GreatSchools Rating

Lewis Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 64
4
GreatSchools Rating

Nimitz Ninth Grade School

  • Education Level: High
  • # of students: 692
  • # of teachers: 51
2
GreatSchools Rating
 

$148,410$181,390$164,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$608
Property Tax -$348
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$164,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,449

INVESTMENT

$49,449

Down Payment
$41,225
Rehab Estimate
$5,750
Closing Costs
$2,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,225
Loan Amount $123,675
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$11,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,268

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,3253$1,4004$1,4005$1,440
$1,440
RENT COMPS ANALYSIS
  • 2811 Cypress Island Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.00
    •  
  • 21926 Paril Creek Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.04
    •  
  • 2430 W Werrington Way Houston, TX 3
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2015
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 2443 Jonahs Way Houston, TX 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2015
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 2435 Jonahs Way Houston, TX 5
    • 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30938919
Last Updated: 11/27/2020
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