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6827 Durango Creek Drive Magnolia, TX 77354

3 Beds 2 Baths 1,872 sqft Built 2012

$225,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $120.19
  • 2 Days on Market
  • MLS # : 40724977
  • Updated Date : 02/27/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent

Home Sweet Home Re Group

Listing Agent's Description

JUST LISTED! OPEN HOUSE SUNDAY 2/28 FROM 12PM TO 4PM. Welcome home to 6827 Durango Creek Dr! This beautiful split plan home boasts 3 bedrooms and a study that could be a 4th bedroom if needed. You will fall in love with the oversized kitchen! The primary bedroom is located privately away from the secondary rooms and the primary bathroom has all the space you need and more including separate shower and soaking tub. Conveniently located close to major shopping centers and restaurants. Come take a tour 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: Durango Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Durango Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9122063

* 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
Bear Branch Elementary School Primary Regular 646 39 7
Bear Branch Junior High School Middle Regular 977 51 7
Magnolia High School High Regular 1,794 118 7

Bear Branch Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 39
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$782
Property Tax -$396
Property Insurance -$135
HOA -$37
Property Management Fees -$99
CASH FLOW
$301

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.

$225,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$26,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6954$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 6827 Durango Creek Drive Magnolia, TX 4
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 811 Levi Bend Magnolia, TX 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 6739 Durango Creek Drive Magnolia, TX 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 2006
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 6831 Kotlan Court Magnolia, TX 3
    • 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 2006
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 7459 Durango Creek Drive Magnolia, TX 5
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rachel Merks
1.832.690.0860
Home Sweet Home Re Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40724977
Last Updated: 02/27/2021
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