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6906 Dillon Drive Magnolia, TX 77354

3 Beds 2 Baths 1,560 sqft Built 2002

$239,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $153.78
  • 5 Days on Market
  • MLS # : 53464224
  • Updated Date : 10/30/2020 at 13:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Texas Home Group, Realtors

Listing Agent's Description

Better than New! This home has it all, from Upscale New Roof, Granite in Kitchen and Baths. All New Kitchen Appliances. New Upscale 42" Cabinets. Buyer Credit for New Gas or Electric Range. All Bathroom Fixtures are Updated. Even a Spectacular Walk-In Shower in Master. New Heater & AC. Updated Flooring Throughout! And, did I forget the Large Private Backyard with a Fabulous New Deck! All of this with LOW TAXES! Close to The Woodlands! Nice Subdivision Amenities. Make Your Appointment Today, It is Ready for You!

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: Woodland Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Woodland Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9322063

* 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
 

$215,910$263,890$239,900

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 -$885
Property Tax -$423
Property Insurance -$117
HOA -$30
Property Management Fees -$99
CASH FLOW
$6

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.

$239,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
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-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,414

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
  • $1

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5604$1,5955$1,750
$1,750
RENT COMPS ANALYSIS
  • 6906 Dillon Drive Magnolia, TX 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.00
    •  
  • 6711 Dillon Drive Magnolia, TX 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2001
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
  • 6530 Hayden Drive Magnolia, TX 2
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2006
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 6922 Durango Drive Magnolia, TX 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2000
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 7015 Casita Drive Magnolia, TX 5
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2007
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Don Allen
1.281.723.0364
Texas Home Group, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 53464224
Last Updated: 10/30/2020
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