Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7130 Durango Creek Drive Magnolia, TX 77354

4 Beds 2 Baths 2,212 sqft Built 2012

INVESTimate

$260,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$265,694  ( +2.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $117.54
  • 8 Days on Market
  • MLS # : 88951076
  • Updated Date : 08/19/2020 at 19:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This adorable home is beautifully updated and has been well maintained. With the help of a local interior designer, most of the home has been freshly transformed with impeccably chosen colors and finishes. Not to mention that the home is in a total slam-dunk location! It's centrally located between Magnolia, Tomball, The Woodlands, Conroe, and Montgomery - perfect for anyone needing to be all over the North/Northwest arc of the Houston area. Just a few minutes from an almost brand new HEB and neighborhood staples like Chic-fil-a, Taco Bell, Starbucks, Papa Johns, and Wataburger. Call for more information and have your Realtor book an appointment!

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: 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
 

$234,000$286,000$260,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$959
Property Tax -$458
Property Insurance -$155
HOA -$34
Property Management Fees -$99
CASH FLOW
$45

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.

$260,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.19%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,757

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
  • $0.79

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7504$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 7130 Durango Creek Drive Magnolia, TX 3
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 7238 Winter Song Drive Magnolia, TX 1
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 7266 Basque Country Drive Magnolia, TX 2
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2014
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 7419 Casita Drive Magnolia, TX 4
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2013
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 7226 Alava Drive Magnolia, TX 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2014
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mariam Hejazi
1.832.465.6458
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88951076
Last Updated: 08/19/2020
BESbswy