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$346,000

NAL Estimated Property Value

18223 Water Mill Dr, Cypress, TX, 77429

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,322 Sq Ft
price_per_sqft$107.67 / sqft
Year BuiltBuilt in 1998

Property Lead Type:

Off-Market ListDeal ListAbsentee OwnerHigh EquityCash BuyersMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Convection Oven, Electric Oven, Oven, Microwave, Gas Range, Dishwasher
FlooringCarpet, Laminate, Tile

Exterior

Lot Size6,621 sqft

Building Information

Year Built1998
Garage Spaces2

Land Information

APN1191400060034
Lot Number34
SubdivisionCypress Mill
Land UseResidential
Legal DescriptionLT 34 BLK 6 CYPRESS MILL SEC 3
Census Tract554405
Assessed Land Value$56,984
Assessed Improvement Value$284,639
Assessment Year2025

About this property

Recently updated 1-story gem in the highly desirable community of Cypress Mill in Cypress, TX! This home features an open and completely updated kitchen with stainless appliances, granite counters, and white cabinets with brushed nickel hardware. All of the main living areas have beautiful laminate flooring and recently installed carpet in all of the bedrooms. This great floorplan includes a formal dining, office / formal living area, and large family room with fireplace. The oversized master bedroom has an en-suite master bathroom with dual sinks, garden tub, a separate shower, and a large walk-in closet. Covered back patio. Roof and AC system both recently replaced. Great location only a block away from the Cypress Mill Neighborhood Center with its pool and playground. Zoned to exemplary Cy-Fair Schools!

Investor Tools

Property Icon
$346,000
Estimated Property Value
$0Estimated Mortgage Balance
$346,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,076 /month
Positive
Cash Flow Estimate:
$692 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$359/month
$570/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,578
$341,623
2025
$56,984
$284,639
$341,623
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,578
$341,623

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$352,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,160/mo
$570/mo
+$1,590/mo
7.5%

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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18223 Water Mill Dr | Property Details | No Agent List