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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $133.13
- 2 Days on Market
- MLS # : 75074093
- Updated Date : 12/12/2020 at 18:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,615 sqft
- Baths : 2 full
Listing Agent
Branch & Co.
Listing Agent's Description
Beautifully renovated one story corner lot home with over $20k in upgrades! Brand new flooring in this 3 bedroom 2 bath with fresh paint inside and out! Enjoy a versatile study off the living room that can be used as flex room! Additional upgrades include attic decking, epoxy floor, ceiling fans, custom shelving, under-cabinet lighting and a PEX water technology system. Soft close cabinets and hardware, as well as a Ring doorbell, Kwikset keypad, SmartHome thermostats and dimmers! This home is immaculately maintained and well-cared! Home built in 2013 so roof and AC are 7 years old! Professional landscaping with greenbelt on the north side of the street. Family friendly neighborhood with low taxes, walking distance to fishing lake, park and Smith Elementary.
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: Hidden Lake Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hidden Lake Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$793 |
| Property Tax | -$379 | |
| Property Insurance | -$120 | |
| HOA | -$38 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$211
|
||
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.
$214,999
PROJECTED PRICE
$1,640
PROJECTED RENT
0.76%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 5.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,249 |
7.33
YEARS SAVED
$23,059
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$1,651
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
28927 Hidden Lake West Magnolia, TX 3
- 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2013
![property image]()
- Rent
- Rent Per SQFT
- $1,640
- $1.02
-
9218 Hidden Lake Magnolia, TX 1
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
![property image]()
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.96
-
28822 Hidden Cove Drive Magnolia, TX 2
- 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2006
![property image]()
LEASED 06/15/19- Rent
- Rent Per SQFT
- $1,575
- $0.99
-
28607 Hidden Lake Magnolia, TX 4
- 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2004
![property image]()
LEASED 12/10/20- Rent
- Rent Per SQFT
- $1,835
- $1.02
-
28910 Hidden Lake Magnolia, TX 5
- 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2014
![property image]()
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,900
- $1.12
PROPERTY LISTING DETAILS
1.936.235.1414
Branch & Co.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 75074093
Last Updated: 12/12/2020
