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7231 Enchanted Creek Drive Cypress, TX 77433

4 Beds 3 Baths 2,273 sqft Built 2006

$180,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $79.19
  • 2 Days on Market
  • MLS # : 80832196
  • Updated Date : 12/26/2020 at 16:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,273 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Looking for lots of space! This is a great starter home for your growing family or investment property nestled in Tealbrook. Conveniently located between Barker Cypress and Fry Rd, just minutes from shopping and restaurants. Make your appointment today!

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: Tealbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $92k303k

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

Neighborhood: Tealbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9022060

* 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
Duryea Elementary School Primary Regular 1,024 58 6
Hopper Middle School Middle Regular 1,369 94 6
Cypress Springs High School High Regular 2,942 186 5

Duryea Elementary School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 58
6
GreatSchools Rating

Hopper Middle School

  • Education Level: Middle
  • # of students: 1,369
  • # of teachers: 94
6
GreatSchools Rating

Cypress Springs High School

  • Education Level: High
  • # of students: 2,942
  • # of teachers: 186
5
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$664
Property Tax -$495
Property Insurance -$181
Property Management Fees -$99
CASH FLOW
$152

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.

$180,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5903$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 7231 Enchanted Creek Drive Cypress, TX 2
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.70
    •  
  • 7530 Oakleigh Drive Cypress, TX 1
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2006
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 7414 Bering Landing Drive Cypress, TX 3
    • 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 2006
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 7038 Sterling Meadow Drive Katy, TX 4
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2005
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 6903 Silver Trace Court Katy, TX 5
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2012
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
PROPERTY LISTING DETAILS
Rashonn Cline
1.713.461.9393
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80832196
Last Updated: 12/26/2020
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