Turnkey Investor Opportunity - Tenant Occupied Through 10/31/26 Welcome to 12755 Mill Ridge Dr #217, Cypress, TX 77429, a tenant-occupied condo offering immediate, stable rental income from day one. The current lease is in place through October 31, 2026, making this an ideal buy-and-hold investment with predictable cash flow. This unit features a functional layout that remains in strong demand with tenants seeking low-maintenance living. The HOA manages exterior maintenance and common areas, helping investors control long-term operating costs. The property benefits from excellent access to Hwy 290, major employment centers, shopping, dining, and area amenities, supporting continued rental demand and long-term appreciation in the Cypress market. Perfect for investors looking for passive income, portfolio diversification, or a 1031 exchange replacement property. No immediate leasing or vacancy risk. Please do not disturb tenant. Showings by appointment only.
Property Features
Bedrooms
- Bedrooms: 2
- Primary Bedroom Dimensions: 16' x 15'
- Bedroom 1 Dimensions: 12' x 12'
- Primary Bedroom Level: First
- Bedroom 1 Level: First
Other Rooms
- Total Rooms: 5
- UtilityRoom Dimensions: 3' x 3'
- UtilityRoom Level: First
- Living Room Dimensions: 16' x 15'
- Living Room Level: First
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
Appliances
- Dryer
- WasherDryerStacked
- Dishwasher
- ElectricOven
- ElectricRange
- Disposal
- Microwave
- Oven
- Refrigerator
- Laundry Features: Stacked
Heating and Cooling
- Cooling Features: CentralAir, Gas
- Fireplace Features: WoodBurning
- Heating Features: Central, Electric
- Heating: Yes
- Number of Fireplaces: 1
Kitchen and Dining
- Kitchen Dimensions: 10' x 9'
- Kitchen Level: First
Land Info
- Lot Size Acres: 3.91
- Lot Size Source: Appraiser
- Lot Size Square Feet: 170159
Garage and Parking
- Parking Features: AdditionalParking, Assigned, Carport
Homeowners Association
- Association: Yes
- Association Fee: 497
- Association Fee Frequency: Monthly
- Association Fee Includes: Clubhouse, CommonAreas, MaintenanceGrounds, Sewer, Trash, Water
- Calculated Total Monthly Association Fees: 497
- Association Name: Creative Management
School Information
- Elementary School: MILLSAP ELEMENTARY SCHOOL (CYPRESS-FAIRBANKS)
- Elementary School District: 13 - Cypress-Fairbanks
- High School: CYPRESS CREEK HIGH SCHOOL
- High School District: 13 - Cypress-Fairbanks
- Middle School: HAMILTON MIDDLE SCHOOL (CYPRESS-FAIRBANKS)
- Middle or Junior School District: 13 - Cypress-Fairbanks
Rental Info
Amenities and Community Features
- Community Features: CommunityPool
Other Property Info
- Annual Tax Amount: 3129
- Source Listing Status: Active
- County: Harris
- Directions: Cypress N Houston to NORTH on Mill Ridge Dr, to LEFT into complex, to LEFT to Building B. Unit 217 is upstairs in the center of the building.
- Tax Year: 2025
- Source Property Type: Residential
- Area: 10
- Property Subtype: condo
- MLS Area Minor: Cypress North
- Source Neighborhood: Regency Oaks Condo
- Parcel Number: 115-657-002-0012
- Postal City: Cypress
- Postal Code Plus 4: 3003
- Subdivision: Regency Oaks Condo
- Property Subtype: Condominium
Building and Construction
- Total Square Feet Living: 1080
- Year Built: 1984
- Building Area Total: 1080
- Construction Materials: CementSiding, WoodSiding
- Foundation Details: Slab
- Levels: One
- Living Area Source: Appraiser
- Property Age: 41
- Roof: Composition
- Levels or Stories: 1
- Building Total Stories: 1
- Year Built Source: PublicRecords
- Architectural Style: Traditional
Utilities
- Sewer: PublicSewer
- Water Source: Public
