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21354 Sweetbay Magnolia Drive Porter, TX 77365

3 Beds 2 Baths 1,651 sqft Built 2017

$219,999

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $133.25
  • 3 Days on Market
  • MLS # : 38781810
  • Updated Date : 01/22/2021 at 08:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This beautiful Highland Home has a new construction feel with custom designer touches. From the moment you enter the home, you are greeted with beautiful wood look tile floors that flow throughout the hallways, kitchen, and living room. The high ceilings and numerous windows allow for light to flow throughout. Many of the windows feature beautiful custom curtain rods that will be staying with the home. The primary bedroom is large enough for a king size bed as well as two nightstands and a full dresser. The en-suite bathroom features double sinks and a separate tub and shower. With an open concept kitchen, dining, and living area, this home truly is perfect for entertaining!

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

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
 

$197,999$241,999$219,999

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$764
Property Tax -$530
Property Insurance -$122
HOA -$63
Property Management Fees -$99
CASH FLOW
$82

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.

$219,999

PROJECTED PRICE

$1,660

PROJECTED RENT

0.75%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $164,999
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5004$1,6505$1,660
$1,660
RENT COMPS ANALYSIS
  • 21354 Sweetbay Magnolia Drive Porter, TX 5
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.01
    •  
  • 21470 Olympic Forest Drive Porter, TX 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 21482 Olympic Forest Drive Porter, TX 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2006
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 21502 Olympic Forest Drive Porter, TX 3
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 22542 Stillwater Canyon Ln Porter, TX 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2010
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lindsey Smithson
1.409.489.2268
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38781810
Last Updated: 01/22/2021
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