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40409 Mostyn Lake Drive Magnolia, TX 77354

4 Beds 2 Baths 2,032 sqft Built 2018

$259,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $127.90
  • 2 Days on Market
  • MLS # : 44696659
  • Updated Date : 11/21/2020 at 20:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Jpar - The Sears Group

Listing Agent's Description

A stunning ALMOST new home just hit the market! The 4 bedroom 2 bathroom house is located in Mostyn Springs and is nestled away in the countryside setting of Magnolia, Texas. The community has everything from splash pads and playgrounds to easy access to the lake and fishing. You will fall in love with the serene setting while still being just minutes away from everyday conveniences like shopping and dining. MUST SEE...don't wait to build...this home has been cared for and upgraded!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Zip Code: 77354

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k306k

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

Zip Code: 77354

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
Magnolia Parkway Elementary School Primary Regular 673 44 5
Bear Branch Junior High School Middle Regular 977 51 7
Magnolia High School High Regular 1,794 118 7

Magnolia Parkway Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 44
5
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$959
Property Tax -$628
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$180

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.

$259,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0103$2,300
$2,300
RENT COMPS ANALYSIS
  • 40409 Mostyn Lake Drive Magnolia, TX 2
    • 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.99
    •  
  • 14607 Heritage Drive Magnolia, TX 1
    • 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2006
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 11228 Forestvale Magnolia, TX 3
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2007
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
PROPERTY LISTING DETAILS
Cari Jo Parham
1.832.308.0250
Jpar - The Sears Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44696659
Last Updated: 11/21/2020
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