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8707 Cimarron Falls Court Magnolia, TX 77354

3 Beds 3 Baths 2,478 sqft Built 2021

$345,995

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.63
  • 3 Days on Market
  • MLS # : 47182887
  • Updated Date : 01/15/2021 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kb Home Houston

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

Zip Code: 77354

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k306k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 77354

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10272063

* 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
 

$311,396$380,595$345,995

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,202
Property Tax -$609
Property Insurance -$170
HOA -$55
Property Management Fees -$99
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$345,995

PROJECTED PRICE

$2,170

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,689

INVESTMENT

$93,689

Down Payment
$86,499
Rehab Estimate
$2,000
Closing Costs
$5,190

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,202

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,499
Loan Amount $259,496
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$8,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$2,0004$2,1005$2,170
$2,170
RENT COMPS ANALYSIS
  • 8707 Cimarron Falls Court Magnolia, TX 5
    • 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.88
    •  
  • 33111 Cottonwood Bend Magnolia, TX 1
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 3972 Eagle Nest Lake Lane Magnolia, TX 2
    • 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 2016
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 8751 Stoney Brook Lane Magnolia, TX 3
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2016
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 3973 Eagle Nest Lake Lane Magnolia, TX 4
    • 3 beds 2 baths ∙ 2,482 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,482 Sqft ∙ Built 2018
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.713.589.5035
Kb Home Houston
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47182887
Last Updated: 01/15/2021
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