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21345 Sweetbay Magnolia Drive Porter, TX 77365

4 Beds 3 Baths 2,422 sqft Built 2018

$242,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $99.92
  • 6 Days on Market
  • MLS # : 55981632
  • Updated Date : 12/01/2020 at 08:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,422 sqft
  • Baths : 3 full
Listing Agent

Nan & Company Properties

Listing Agent's Description

Welcome to this amazing 2 story home in Valley Ranch. This home features 4 spacious bedrooms, an upstairs game room, 3 full baths, a wide-open living area, and a stunning open concept kitchen with a wrap around island & breakfast bar. Finishes include stainless appliances, granite counter-tops, water softener connections, and much more. Easy access to Grand Parkway, Hwy 59, and Shopping centers. Community elementary school is minutes away!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 77365

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k254k

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

Zip Code: 77365

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8761692

* 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
Valley Ranch Elementary School Primary Regular 660 40 4
New Caney Sixth Grade Campus Middle Regular NA
New Caney High School High Regular 1,587 115 3

Valley Ranch Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
4
GreatSchools Rating

New Caney Sixth Grade Campus

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

New Caney High School

  • Education Level: High
  • # of students: 1,587
  • # of teachers: 115
3
GreatSchools Rating
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$893
Property Tax -$574
Property Insurance -$167
HOA -$63
Property Management Fees -$99
CASH FLOW
$265

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.

$242,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$893

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$24,562

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,047

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,0604$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 21345 Sweetbay Magnolia Drive Porter, TX 3
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.85
    •  
  • 21433 Naples Hollow Lane Porter, TX 1
    • 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2008
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 21416 Naples Hollow Lane Porter, TX 2
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2008
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 21418 Elk Haven Lane Porter, TX 4
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2018
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 21318 Shadbush Avenue Porter, TX 5
    • 4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2018
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jessica Demuth
1.713.504.1101
Nan & Company Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55981632
Last Updated: 12/01/2020
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