Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

340 Country Crossing Circle Magnolia, TX 77354

3 Beds 2 Baths 1,775 sqft Built 2013

$229,500

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $129.30
  • 2 Days on Market
  • MLS # : 50070720
  • Updated Date : 01/16/2021 at 17:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Realty Associates

Listing Agent's Description

VERY NICE ONE STORY ON A LARGE OVERSIZED LOT JUST WAITING FOR A POOL OR WHATEVER YOU WANT. NO HOMES BEHIND YOU. AN INVITING FRONT PORCH WELCOMES YOU HOME AND AN OVERSIZED COVERED BACK PORCH COMPLETE WITH A GAS HOOK UP FOR YOUR GRILL. UPGRADED KENT MOORE CABINETS AND GRANITE IN THE KITCHEN WILL MAKE ENTERTAINING A BREEZE. COME SEE THIS HOME TODAY.

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: 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
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$797
Property Tax -$433
Property Insurance -$130
HOA -$35
Property Management Fees -$99
CASH FLOW
$66

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.

$229,500

PROJECTED PRICE

$1,560

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$797

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 340 Country Crossing Circle Magnolia, TX 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.88
    •  
  • 289 Country Crossing Circle Magnolia, TX 2
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2010
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 30802 Roadie Pass Magnolia, TX 3
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2013
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 106 Hillandale Court Magnolia, TX 4
    • 4 beds 3 baths ∙ 1,799 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,799 Sqft ∙ Built 2014
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 273 Country Crossing Circle Magnolia, TX 5
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rosemary Dizona
1.281.620.1204
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50070720
Last Updated: 01/16/2021
BESbswy