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In general I’d say it’s a growing area and definitely has good rental potential. However if you’re asking will you find somewhere that cash flows at current interest rates- while not impossible it will be a challenge. If you’re planning on moving to it later (or buying cash like you mentioned) maybe that’s not a big deal.
My husband and I are located in Katy and have one rental in addition to our primary home. In my opinion the Katy area is growing more than Cypress specifically but there are pros and cons to every area. Happy to chat if you want to message me.
I definitely second the Katy over Cypress as well especially when it comes to schools. Both are good choices but I believe Katy also has a higher price point as well as property tax
Cypress is growing rapidly and it’s a nice area so if you have the cash to spend it could be a decent buy. You’re not going to really stumble upon any equity though unless you find a killer deal. We live in Cypress but my areas for properties are in area zips codes like 77051, 77033, 77016, 77021, 77028 - all of these areas are undergoing gentrification. I own 4 rentals in those area codes, brand new construction duplexes that have been built in the last 2 years. We buy vacant land and build residential properties to hold long term.
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Be sure to account for the increased property taxes on the house. TX has high property taxes because of the no state income tax (similar to Washington State), which makes it hard to cashflow in Texas for SFH’s unless you buy a place below market value and improve it.
Also, I wouldn’t dare trust a redfin or Zillow rental estimate. Do your research on not just what is listed but what’s actually being rented with similar bed / bath / sq footage.
I would say it is a good buy. I have lots of friends that went to the various Cy schools. You might also look at Spring. Might get more bang for your buck there.
Another question 😊 https://www.redfin.com/TX/Katy/5103-Azalea-Meadow-Ln-77494/home/32651542 is the rental estimate for the property seems close based on your experience. Just trying to understand how far we can trust Redfin rental estimates to calculate cash flows
Thank you, appreciate your inputs
Low cost houses are low cost for a reason
High cost houses are high cost for a reason
Thank you. Really curious about those reasons. One thing I can think of is rate of appreciation because of growth. This helps me reason to move as well.
I agree as well. Cypress is up and coming, good schools, high property values. Bridgeland and Townelake are my favorite communities in Cypress but there are plenty of options to choose from