B+

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Owner Contacts

$1,897,000

306 Magnolia Heights Ln, Houston, TX, 77024

Off Market

3 Beds

5 Bath

3,890 Sq Ft

Single Family Residence

$430.59 / sqft

Built in 2016

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3

Bathrooms Full 4

Indoor Fireplace

Garage Available

Heating Central

Cooling

AppliancesENERGY STAR Qualified Appliances, Water Heater, Disposal, Convection Oven, Double Oven, Microwave, Gas Range, Dishwasher, Refrigerator

FlooringTile, Wood

Exterior

Exterior FeaturesBalcony

Lot Size2,866 sqft

Building Information

Year Built2016

Garage Spaces2

Land Information

APN1359420030032

Lot Number32

Land UseResidential

Legal DescriptionLT 32 BLK 1 MEMORIAL GREEN SEC 2 R/P & EXTN

Census Tract430900

Assessed Land Value$522,988

Assessed Improvement Value$1,158,163

Assessment Year2025

About this property

Stunning Pelican Builders, Inc. home meticulously maintained loaded with custom upgrades & finishes on premier park lot in Memorial Green, a gated community of luxury urban homes in the heart of Memorial! Four-story home features second-floor living w/ 3/4 bedrooms & 4.5 baths. First-floor study/opt. bedroom w/ custom built-ins & shiplap. Well-appointed island kitchen w/ coffered ceilings, Wolf range, Sub-Zero refrigerator & wine cooler, Osborne cabinetry w/ access to back porch. Open-layout dining & living w/ gas fireplace & balcony overlooking park. Third-floor primary suite w/ custom walk-in closets by SpaceMan; ensuite secondary bedroom & utility room. Fourth floor media room features full bath, wet bar & rooftop terrace. Custom upgrades e.g.:elevator, epoxy garage floor w/ SpaceMan organization, sound system throughout, walnut flooring, etc. Walkable to Memorial Green shops & restaurants. SBISD schools (Frostwood Elem., Memorial Middle, Memorial HS)

Investor Tools

$1,897,000

Estimated Property Value

$750,000Estimated Mortgage Balance

$1,287,200Estimated Equity

60% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$11,382 /month

Positive

Cash Flow Estimate:

$3,794 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$1,789/month

$4,200/month

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$11,988

$1,681,151

2025

$522,988

$1,158,163

$1,681,151

Tax History

Year

Tax Paid

Assessed Value

2024

$11,988

$1,681,151

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Chevron Fcu

Conventional

$750,000

First

May 30, 2017

Jun 2032

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$609,800

$1,360,200

69%

32%

$4,497/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$2,520/mo

$8,697/mo

$-6,177/mo

1.6%

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