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1309 Skyflower Lane Celina, TX 75009

4 Beds 4 Baths 3,488 sqft Built 2016

$485,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $139.05
  • 3 Days on Market
  • MLS # : 14513699
  • Updated Date : 02/06/2021 at 15:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,488 sqft
  • Baths : 4 full
Listing Agent

Plat Realty

Listing Agent's Description

Beautiful two story home in the highly sought after Light Farms community. It has 4 bedrooms and 4 baths, high ceilings, tile and carpet flooring, a game room, media room, and an outdoor living area. Upscale finish out includes granite counter tops, custom cabinets, stainless steel appliances, plantation shutters, pre-wired 5.1 in family and 7.1 in media room and many more custom features.Community amenities: 200+ events a yr, concerts on the lawn, movie night by the lake. On site elementary school, 13+ miles of trails, 5 pools to tennis courts, gym, private lake, camping, canoeing, dog parks, restaurant and more, it's like having your own country club in your backyard! Welcome to Light Farms and PROSPER ISD!

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Neighborhood: Light Farms

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k415k

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

Neighborhood: Light Farms

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262435

* 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
Light Farms Elementary School Primary Unknown NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Light Farms Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Reynolds Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 68
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$1,685
Property Tax -$769
Property Insurance -$229
HOA -$135
Property Management Fees -$99
CASH FLOW
$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$49,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,357

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0503$3,1504$3,2205$3,795
$3,795
RENT COMPS ANALYSIS
  • 1309 Skyflower Lane Celina, TX 4
    • 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,488 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $0.92
    •  
  • 1425 Bridgewater Boulevard Celina, TX 1
    • 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
  • 3725 Millstone Way Celina, TX 2
    • 4 beds 3 baths ∙ 3,235 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,235 Sqft ∙ Built 2013
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.94
    •  
  • 3625 Wagon Wheel Way Celina, TX 3
    • 4 beds 3 baths ∙ 3,399 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,399 Sqft ∙ Built 2014
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.93
    •  
  • 4421 Hazeltine Hills Drive Celina, TX 5
    • 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.05
    •  
PROPERTY LISTING DETAILS
Roy George Plat
Plat Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513699
Last Updated: 02/06/2021
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