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7007 Brown Bark Magnolia, TX 77354

4 Beds 2 Baths 2,030 sqft Built 2014

$274,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $134.98
  • 2 Days on Market
  • MLS # : 13122155
  • Updated Date : 03/20/2021 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Welcome Home to this beautiful one story in the desired neighborhood of Woodland Oaks. This home affords a three car garage with ample drive way space. Sprawling hallway with views to the back of the house. High ceilings, energy efficient windows, open concept kitchen, Granite counter tops, Tall cabinets, dining room , large family room, four bedrooms. Updated with Modern light fixtures. Wow! Large Back yard. This home along with being a one story feels spacious. Zoned to exemplary Magnolia ISD. Come and relax in your front yard and watch all the deer that daily frequent this street. You'll feel right at home.

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

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
 

$246,600$301,400$274,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$952
Property Tax -$483
Property Insurance -$144
HOA -$27
Property Management Fees -$99
CASH FLOW
$15

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.

$274,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.63%

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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,360

INVESTMENT

$78,360

Down Payment
$68,500
Rehab Estimate
$5,750
Closing Costs
$4,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,500
Loan Amount $205,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7203$1,7504$1,8855$1,900
$1,900
RENT COMPS ANALYSIS
  • 7007 Brown Bark Magnolia, TX 2
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.85
    •  
  • 7022 Woodland Oaks Magnolia, TX 1
    • 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2000
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.87
    •  
  • 6702 Dillon Drive Magnolia, TX 3
    • 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 7214 Durango Creek Drive Magnolia, TX 4
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2012
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.86
    •  
  • 7419 Casita Drive Magnolia, TX 5
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2013
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
PROPERTY LISTING DETAILS
Andrea Turner
1.281.827.2847
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13122155
Last Updated: 03/20/2021
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