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8715 Cimarron Falls Court Magnolia, TX 77354

3 Beds 2 Baths 2,130 sqft Built 2021

$310,995

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $146.01
  • 5 Days on Market
  • MLS # : 84704129
  • Updated Date : 03/03/2021 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,130 sqft
  • Baths : 2 full
Listing Agent

Kb Home Houston

Listing Agent's Description

You need to check out this stunning KB Home, which boasts a brick elevation, tile flooring, and an open great room. Impress your guests with a culinary masterpiece in the kitchen, complete with laminate countertops and 30-in. cabinets. Relax after a long day in the tranquil primary suite, which features extended dual vanities and a 42-in. Ensemble® tub with a Moen Chateau WaterSense® showerhead. Additional home features include a fully equipped security system, full gutters, custom landscaping, automatic sprinklers, and a patio. The community of Cimarron Creek includes a recreation center, swimming pool, park, and playground. Commuters love the easy access to Downtown Houston via Highway 249 and I-45. Residents enjoy close proximity to popular shops and restaurants at The Woodlands Mall and The Cynthia Woods Mitchell Pavilion. Schools in the area are zoned to Magnolia ISD.

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

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
 

$279,896$342,095$310,995

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,080
Property Tax -$548
Property Insurance -$150
HOA -$55
Property Management Fees -$99
CASH FLOW
-$33

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.

$310,995

PROJECTED PRICE

$1,900

PROJECTED RENT

0.61%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,414

INVESTMENT

$84,414

Down Payment
$77,749
Rehab Estimate
$2,000
Closing Costs
$4,665

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,080

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,749
Loan Amount $233,246
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5653$1,9004$1,9965$2,000
$2,000
RENT COMPS ANALYSIS
  • 8715 Cimarron Falls Court Magnolia, TX 3
    • 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 33218 Cottonwood Bend Magnolia, TX 1
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2007
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 7314 Winter Song Drive Magnolia, TX 2
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006
    property image
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.87
    •  
  • 7502 Wedgewood Drive Magnolia, TX 4
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2004
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,996
    • $0.97
    •  
  • 7403 Wedgewood Drive Magnolia, TX 5
    • 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2003
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
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 #: 84704129
Last Updated: 03/03/2021
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