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$165,000

12755 Mill Ridge Drive 616, Cypress, TX, 77429

On MarketInfo
Beds2 Beds
Baths3 Bath
Baths1,200 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$137.5 / sqft
Year BuiltBuilt in 1984

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Bathrooms Half 1Bathrooms Half 1
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Electric Oven, Microwave, Electric Range, Dryer, Refrigerator, Washer/Dryer Stacked, Washer, Dishwasher
FlooringCarpet, Tile, Vinyl

Exterior

Exterior FeaturesBalcony

Building Information

Year Built1984

Land Information

APN1156570060012
SubdivisionRegency Oaks Condo Ph Ii
Land UseResidential
Legal DescriptionUNIT 616 BLDG F 1.59 U/D INT COMMON LAND & ELE REGENCY OAKS CONDO PH II
Census Tract552304
Assessed Land Value$27,292
Assessed Improvement Value$116,352
Assessment Year2025

About this property

Investment Opportunity! Property is currently tenant occupied with a long-term tenant who has expressed interest in remaining at the property. Tenant has maintained a positive rental history, making this a great opportunity for investors seeking immediate rental income and tenant continuity. Beautiful and well-kept condo located in the quiet and green Regency Oaks subdivision. Features a spacious living and dining area with fireplace, cozy kitchen with all appliances included, and a convenient half bath downstairs. Upstairs offers primary and secondary bedrooms with two full bathrooms. Tile flooring on the first floor, vinyl wood plank floors in bedrooms, and carpet on stairs only. Excellent location with easy access to Hwy 249 & 290, shopping, restaurants, library, and park nearby. Zoned to highly rated Cy-Fair ISD schools. Washer/dryer installed after photos. Pets under 25 lbs per HOA rules.

Investor Tools

$0Estimated Mortgage Balance
$144,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$990 /month
Positive
Cash Flow Estimate:
$330 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$149/month
$562/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,063
$143,644
2025
$27,292
$116,352
$143,644
No

Tax History

Year
Tax Paid
Assessed Value
2024
$1,063
$143,644

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$144,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,640/mo
$562/mo
+$1,078/mo
13.7%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Cypress

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12755 Mill Ridge Drive 616 | Property Details | No Agent List