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826 Levi Bend Magnolia, TX 77354

3 Beds 3 Baths 2,004 sqft Built 2004

$234,999

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $117.26
  • 6 Days on Market
  • MLS # : 5492933
  • Updated Date : 11/02/2020 at 15:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Great two story home located on a quiet cul-de-sac street. Charming covered front porch welcomes you inside. The family room features soaring ceilings & corner fireplace. The kitchen has upgraded laminate wood flooring, upgraded stainless steel oven & microwave, island, breakfast bar & breakfast area. Private study enclosed by French doors. The owners suite is on the 1st floor & features dual sinks, soaking tub, separate shower & walk-in closet. Upstairs you will find the gameroom & guest bedrooms. High ceilings in all bedrooms. Community is ideally located with easy access to 45, 249, The Woodlands, shopping, restaurants & more.

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: 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
 

$211,499$258,499$234,999

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$867
Property Tax -$414
Property Insurance -$143
HOA -$37
Property Management Fees -$99
CASH FLOW
$121

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.

$234,999

PROJECTED PRICE

$1,680

PROJECTED RENT

0.71%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,249
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$13,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,7254$1,7905$1,850
$1,850
RENT COMPS ANALYSIS
  • 826 Levi Bend Magnolia, TX 2
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.84
    •  
  • 6642 Durango Creek Drive Magnolia, TX 1
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2004
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 23206 Comarca Magnolia, TX 3
    • 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2014
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.92
    •  
  • 7203 Basque Country Drive Magnolia, TX 4
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.85
    •  
  • 7459 Durango Creek Drive Magnolia, TX 5
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2013
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jimmy Franklin
1.281.949.6362
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5492933
Last Updated: 11/02/2020
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