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110 Noble View Court Magnolia, TX 77354

4 Beds 2 Baths 2,033 sqft Built 2015

$280,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $137.73
  • 7 Days on Market
  • MLS # : 90215295
  • Updated Date : 02/08/2021 at 22:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,033 sqft
  • Baths : 2 full
Listing Agent

Key 2 Texas Realty

Listing Agent's Description

A breathtaking 4 bedroom, 2 bathroom single-story home located on a cul-de-sac in the new community of Magnolia Ridge. Walking through the front door you are greeted with 12ft ceilings, a spacious front entry and the formal dining area situated off to the right. Wood tile is utilized throughout the common living areas. The home's open-concept kitchen hosts a gas stovetop, granite countertops, updated appliances and a large kitchen island overlooking the family room. Cozy up by the fireplace or enjoy spending time in the family room which boasts 20ft ceilings and tons of natural light. The primary suite is truly a retreat! With ample natural light, the generously sized haven features dual walk-in closets and a luxurious bathroom with dual sinks, rainfall shower and garden-style jacuzzi tub. The home features a three car garage, which is perfect for additional storage or vehicles. Don't miss your chance to see this spectacular home!

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Magnolia Ridge

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k306k

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

Neighborhood: Magnolia Ridge

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10272063

* 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
Willie E. Williams Elementary School Primary Regular 673 45 5
Magnolia Junior High School Middle Regular 1,056 55 6
Magnolia West High School High Regular 1,836 124 6

Willie E. Williams Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 45
5
GreatSchools Rating

Magnolia Junior High School

  • Education Level: Middle
  • # of students: 1,056
  • # of teachers: 55
6
GreatSchools Rating

Magnolia West High School

  • Education Level: High
  • # of students: 1,836
  • # of teachers: 124
6
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$973
Property Tax -$493
Property Insurance -$145
HOA -$33
Property Management Fees -$99
CASH FLOW
$167

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.

$280,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,9004$1,9105$1,999
$1,999
RENT COMPS ANALYSIS
  • 110 Noble View Court Magnolia, TX 4
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.94
    •  
  • 289 Country Crossing Circle Magnolia, TX 1
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2010
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 304 Country Crossing Circle Magnolia, TX 2
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2015
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 273 Country Crossing Circle Magnolia, TX 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 123 Noble View Court Magnolia, TX 5
    • 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2015
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jesus Beltran
1.713.550.2793
Key 2 Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90215295
Last Updated: 02/08/2021
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