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5406 Tory Ann Drive Magnolia, TX 77354

4 Beds 3 Baths 2,746 sqft Built 2007

$274,500

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $99.96
  • 3 Days on Market
  • MLS # : 90118263
  • Updated Date : 12/05/2020 at 00:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,746 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Greenfield Forest Estates Subdivision! 4/2.5/2 Well-cared for home on an Over-Sized Corner lot! This home is conveniently located to The Woodlands, Magnolia & Conroe. Large ~ Open floor-plan, Island kitchen, Over-Sized Cabinets, Storage Galore, Covered Front/Back Porches, New Carpet in Upstairs Just Installed new Carpet in Game-Room Upstairs plus all Secondary Bedrooms, Family Room offers High Ceilings, Tons of Natural Light, Pool-Sized Lot with large backyard. Some of the Things the Current Homeowner Love About the Home! Convenient to shopping, commuting, recreation. Quiet Small Neighborhood. Low HOA Dues & Tax Rate! Upgrades made in 2020- See list! Make your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greenfield Forest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Greenfield Forest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10232063

* 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
Tom R. Ellisor Elementary School Primary Regular 729 45 5
Bear Branch Junior High School Middle Regular 977 51 7
Magnolia High School High Regular 1,794 118 7

Tom R. Ellisor Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 45
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
 

$247,050$301,950$274,500

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,013
Property Tax -$484
Property Insurance -$186
HOA -$38
Property Management Fees -$99
CASH FLOW
$382

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.

$274,500

PROJECTED PRICE

$2,200

PROJECTED RENT

0.80%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$78,493

INVESTMENT

$78,493

Down Payment
$68,625
Rehab Estimate
$5,750
Closing Costs
$4,118

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,013

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,625
Loan Amount $205,875
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$40,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,4504$2,8005$2,833
$2,833
RENT COMPS ANALYSIS
  • 5406 Tory Ann Drive Magnolia, TX 2
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 174 S Brooksedge Circle The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1999
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 178 Brooksedge Court The Woodlands, TX 3
    • 4 beds 2 baths ∙ 2,797 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,797 Sqft ∙ Built 1999
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 23 Rockledge Drive The Woodlands, TX 4
    • 3 beds 4 baths ∙ 2,873 Sqft ∙ Built 2000 3 beds 4 baths ∙ 2,873 Sqft ∙ Built 2000
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 118 N Westwinds Circle Circle The Woodlands, TX 5
    • 5 beds 4 baths ∙ 2,865 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,865 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,833
    • $0.99
    •  
PROPERTY LISTING DETAILS
Stacie Fontenot
1.936.328.0737
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90118263
Last Updated: 12/05/2020
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