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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $118.11
- 2 Days on Market
- MLS # : 85938401
- Updated Date : 01/30/2021 at 17:38
CONSTRUCTION
- Beds : 4
- Floor Size : 2,269 sqft
- Baths : 3 full , 1 half
Listing Agent
Braden Real Estate Group, Llc
Listing Agent's Description
This beautiful 4-bedroom, 3.5-bath home was built in 2013 and is nestled in the quiet back section of a family-oriented neighborhood. Located within the highly-rated Magnolia school district, it is only minutes from The Woodlands, Conroe and Tomball. Home and neighborhood free from flood-damage during Harvey and tax-day floods. Features tall ceilings, a first-level master suite, generous-sized front porch, large open-concept second-floor game room and three attic access points for additional storage. Kitchen featured granite countertops and breakfast area. French doors open way to spacious room that can be purposed as either a formal dining room or study. Storage capacity has been enhanced by the sellers over the past several years with additional storage located in garage, attic areas, and kitchen. Several amenities, including washer/dryer, kitchen appliances/storage piece, as well as dining room set, willing to be included for a negotiable price.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Durango Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,940 |
| EXPENSES | Loan Payment | -$931 |
| Property Tax | -$472 | |
| Property Insurance | -$158 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$280
|
||
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.
$268,000
PROJECTED PRICE
$1,940
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$76,770
LOAN DETAILS
$931
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $67,000 |
| Loan Amount | $201,000 |
7.42
YEARS SAVED
$25,251
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,940
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,934
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
7418 Durango Creek Drive Magnolia, TX 3
- 4 beds 4 baths ∙ 2,269 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,269 Sqft ∙ Built 2013
- Rent
- Rent Per SQFT
- $1,940
- $0.86
-
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
-
7419 Casita Drive Magnolia, TX 2
- 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 4
- 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
-
7435 Casita Drive Magnolia, TX 5
- 5 beds 4 baths ∙ 2,242 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,242 Sqft ∙ Built 2013
LEASED 01/02/21- Rent
- Rent Per SQFT
- $2,100
- $0.94
PROPERTY LISTING DETAILS
1.832.408.9882
Braden Real Estate Group, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 85938401
Last Updated: 01/30/2021
