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8911 Cypress Square Drive Spring, TX 77379

4 Beds 2 Baths 2,329 sqft Built 1997

$259,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $111.21
  • 3 Days on Market
  • MLS # : 42393364
  • Updated Date : 03/19/2021 at 18:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,329 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Welcome home to 8911 Cypress Square Drive! This stunning home sits on a large 6,498 sq/ft lot and offers a spacious 2,329 sq/ft of living space with 4 bedrooms, 2 full bathrooms, sits on a quiet with beautiful landscaping, brick exterior, and all zoned to Klein ISD! You'll love all the incredible features this home has to offer, including a gorgeous primary suite, spacious den, large windows throughout the home, cozy fireplace, wood cabinets, large kitchen island, fully fenced backyard, huge paved back patio, backyard garden space, and so much more! This home is minutes from 249 and Grand Parkway 99 - in an excellent location! Schedule your private showing 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: Champion Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Champion Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Krahn Elementary School Primary Regular 741 48 8
Kleb Intermediate School Middle Regular 1,396 76 6
Klein Cain High School High Regular NA

Krahn Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 48
8
GreatSchools Rating

Kleb Intermediate School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 76
6
GreatSchools Rating

Klein Cain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$900
Property Tax -$544
Property Insurance -$185
HOA -$50
Property Management Fees -$99
CASH FLOW
$53

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.

$259,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,8304$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 8911 Cypress Square Drive Spring, TX 3
    • 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.79
    •  
  • 9019 Driftstone Drive Spring, TX 1
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1983
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 9023 Southleigh Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1989
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
  • 16211 Salmon Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1978
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 9410 Calwood Circle Spring, TX 5
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1990
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Michelle Garcia
1.713.517.5031
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42393364
Last Updated: 03/19/2021
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