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14127 Magnolia Springs Drive Houston, TX 77066

4 Beds 2 Baths 1,536 sqft Built 1981

$145,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $94.40
  • 4 Days on Market
  • MLS # : 80250925
  • Updated Date : 11/21/2020 at 14:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,536 sqft
  • Baths : 2 full
Listing Agent

Texas United Realty

Listing Agent's Description

INVESTORS AND HANDY MAN OPPORTUNITY. Home offers vaulted ceilings and functional floor plan. Perfect rental for investors or first time home owners who do not mind a little extra work. Home is complete with a large front and backyard. Dont miss out!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Briarcreek of Aldine

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $59k222k

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

Neighborhood: Briarcreek of Aldine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Conley Elementary School Primary Regular 872 50 5
Plummer Middle School Middle Regular 962 61 4
Davis Senior High School High Regular 2,542 149 2

Conley Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 50
5
GreatSchools Rating

Plummer Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 61
4
GreatSchools Rating

Davis Senior High School

  • Education Level: High
  • # of students: 2,542
  • # of teachers: 149
2
GreatSchools Rating
 

$130,500$159,500$145,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$535
Property Tax -$385
Property Insurance -$131
HOA -$33
Property Management Fees -$99
CASH FLOW
$166

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$145,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,175

INVESTMENT

$44,175

Down Payment
$36,250
Rehab Estimate
$5,750
Closing Costs
$2,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$535

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,250
Loan Amount $108,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$15,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3003$1,3254$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 14127 Magnolia Springs Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 14118 Sandy Point Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1982
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.92
    •  
  • 2902 Broad Haven Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1982
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 2915 Broad Haven Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1982
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.90
    •  
  • 3334 Willow Tree Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1981
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
PROPERTY LISTING DETAILS
Daniel Enriquez
1.281.975.7658
Texas United Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80250925
Last Updated: 11/21/2020
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