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$342,115

40602 Mill Creek Rd, Magnolia, TX, 77354

$416,107 ARVInfo
Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,298 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$156.66 / sqft
Year BuiltBuilt in 1996

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Dryer, Washer, Microwave, Gas Range, Gas Oven
FlooringWood

Exterior

Lot Size1 acre

Building Information

Year Built2017
Stories1
Roof Type105

Land Information

APN7170-00-01400
Lot Number11
SubdivisionMill Creek
Land UseResidential
Legal DescriptionS717000 - MILL CREEK LANDING 01, BLOCK 2, LOT 11, ACRES 1
Census Tract694603
Assessed Land Value$28,750
Assessed Improvement Value$428,516
Assessment Year2025

About this property

Beautifully updated home in Magnolia on one acre. This is NOT a manufactured home, it is on a pier and beam foundation. Completely remodeled (gutted down to the studs and subfloors) in 2017-2018 with new plumbing, electrical, new kitchen, flooring, bathrooms, windows, and so much more. See List of Improvements for more details. Most recent additions include a back deck (2020) and front porch (2019). Roof replaced in 2020. Freshly painted in July 2024. Enclosed bottom of home in 2023-2024. Pride of ownership shines through in every detail of this charming property!

Investor Tools

Property Icon
$342,115
Estimated Property Value
$305,250Estimated Mortgage Balance
$40,876Estimated Equity
11% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$416,107
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,160 /month
Positive
Cash Flow Estimate:
$720 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$448/month
$120/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,671
$342,115
2025
$28,750
$428,516
$457,266
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,671
$342,115

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Neighborhood Loans
Fha
$305,250
Yes
First
Aug 29, 2025
Sep 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$301,239
$40,876
11%
88%
$1,831/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Magnolia

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40602 Mill Creek Rd | Property Details | No Agent List