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28927 Hidden Lake West Magnolia, TX 77354

3 Beds 2 Baths 1,615 sqft Built 2013

$214,999

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k303k

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

Neighborhood: Hidden Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9121901

* 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
Cedric C. Smith Elementary School Primary Regular 739 45 7
Bear Branch Junior High School Middle Regular 977 51 7
Magnolia High School High Regular 1,794 118 7

Cedric C. Smith Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 45
7
GreatSchools Rating

Bear Branch Junior High School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 51
7
GreatSchools Rating

Magnolia High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 118
7
GreatSchools Rating
 

$193,499$236,499$214,999

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,249
See What Happens When You Reinvest Cash Flow

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
$1,550
1$1,5502$1,5753$1,6404$1,8355$1,900
$1,900
RENT COMPS ANALYSIS
  • 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
Jake Moore
1.936.235.1414
Branch & Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75074093
Last Updated: 12/12/2020
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