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272 Country Crossing Circle Magnolia, TX 77354

3 Beds 2 Baths 1,582 sqft Built 2014

INVESTimate

$209,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$61,135

Investment Est.

$211,111  ( +1.01%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $132.11
  • 2 Days on Market
  • MLS # : 77283416
  • Updated Date : 08/25/2020 at 19:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,582 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderful 3 bed/2 bath single story home located in the heart of Magnolia. Beautiful kitchen with granite counters, breakfast bar, and large breakfast room with bay windows. Spacious master with high ceiling, crown molding, separate vanities, oversized shower, and his & her closets. Large covered back patio perfect for entertaining and enjoying the back yard. Brand new roof! Great location with quick access to FM 1488, SH 249, and the new Aggie Expressway.

SEE MORE

MARKET HIGHLIGHTS

Houston Market Report
  • 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
 

FINANCIALS

Learn how to read this

$188,100$229,900$209,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

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

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$771
Property Tax -$368
Property Insurance -$118
HOA -$32
Property Management Fees -$99
CASH FLOW
$241

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.

$209,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.01%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment		 $52,250
Rehab Estimate		 $5,750
Closing Costs		 $3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$24,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT

  • $1.03

    LIST RENT PER SQFT

  • $1,618

    COMP ESTIMATED VALUE

  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4954$1,5755$1,630
$1,630
RENT COMPS ANALYSIS
  • 272 Country Crossing Circle Magnolia, TX 5
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.03
    •  
  • 175 Country Crossing Circle Magnolia, TX 1
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 2015
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 107 Piney Pathway Magnolia, TX 2
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2015
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
  • 115 Piney Pathway Magnolia, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2009
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 31906 Oak Crossing Magnolia, TX 4
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.03
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Jon Kraft
1.832.585.3426
Keller Williams Realty
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77283416
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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