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INVESTimate
$209,000
List Price
$61,135
REQUEST INFO
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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Magnolia Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
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
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
INVESTMENT
$61,135
LOAN DETAILS
$771
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $52,250 |
Loan Amount | $156,750 |
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
PROPERTY LISTING DETAILS
1.832.585.3426
Keller Williams Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 77283416
Last Updated: 08/25/2020