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7214 Durango Creek Drive Magnolia, TX 77354

4 Beds 3 Baths 2,192 sqft Built 2012

$259,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $118.57
  • 5 Days on Market
  • MLS # : 6645528
  • Updated Date : 11/20/2020 at 10:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,192 sqft
  • Baths : 3 full
Listing Agent

M&m Realty

Listing Agent's Description

Charming DR Horton's 4 Bedroom Home Located in the highly sought after Durango Creek Community. Featuring an amazing split floor plan with 3 Bedrooms down with a Game Room and 4th Bedroom Upstairs + 3 FULL Baths!! Kitchen with all the Right Upgrades including Granite Countertops, Stainless Steel Appliances, Island, Recessed Lighting & Birch Cabinetry. Master Bedroom with upgraded Bay Windows. Master Bath with Dual Vanities, Garden Tub and a Stand-In Shower. Spacious Family Room with an Arched Opening to the Kitchen and Breakfast Area along with a Gas Log Fireplace. Texas Size Game Room Upstairs. Covered Patio in the Backyard! Tile in all the Bathrooms. 2.5 Car Extra Wide Upgraded Garage with Updated Gorgeous Epoxy Flooring! Property has an amazing curb appeal with Brick-Stone Elevation and a Beautiful Covered Front Porch Area and Lush Landscaping. Come See it TODAY. WILL NOT LAST!!

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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$959
Property Tax -$458
Property Insurance -$154
HOA -$38
Property Management Fees -$99
CASH FLOW
$123

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.

$259,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.70%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7903$1,8304$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 7214 Durango Creek Drive Magnolia, TX 3
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.83
    •  
  • 7266 Basque Country Drive Magnolia, TX 1
    • 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
    •  
  • 7203 Basque Country Drive Magnolia, TX 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.85
    •  
  • 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 09/01/20
    • 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 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Syed Mubashir
1.832.723.5294
M&m Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6645528
Last Updated: 11/20/2020
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