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7506 Oakleigh Drive Cypress, TX 77433

3 Beds 2 Baths 1,558 sqft Built 2006

$207,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.18
  • 53 Days on Market
  • MLS # : 17764855
  • Updated Date : 01/07/2021 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Re/max Prestige

Listing Agent's Description

Charming one story home awaits you! This 1558 square foot home features a phenomenal open floor concept with 3 bedrooms and 2 baths. The primary room has a large walk in closet, dual sinks in the bathroom with a separate shower and tub perfect for winding down! Spacious living room opens up to kitchen and breakfast area. This stunning home will not last long, make your appointment to see it today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Oak Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k303k

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

Neighborhood: Oak Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10162060

* 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
 

$186,750$228,250$207,500

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$721
Property Tax -$405
Property Insurance -$133
HOA -$39
Property Management Fees -$99
CASH FLOW
$43

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.

$207,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
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$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,738

INVESTMENT

$60,738

Down Payment
$51,875
Rehab Estimate
$5,750
Closing Costs
$3,113

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$721

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,875
Loan Amount $155,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4404$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 7506 Oakleigh Drive Cypress, TX 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.92
    •  
  • 20118 Rivenwood Cypress, TX 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 7523 Oakleigh Drive Cypress, TX 2
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 2007
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 20131 Sendera Oaks Lane Cypress, TX 4
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 7331 River Pines Drive Cypress, TX 5
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
PROPERTY LISTING DETAILS
Miguel Cruz
1.832.646.3960
Re/max Prestige
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17764855
Last Updated: 01/07/2021
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