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1405 Bounds Lane Celina, TX 75009

5 Beds 3 Baths 2,561 sqft Built 2015

$358,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $139.79
  • 4 Days on Market
  • MLS # : 14490215
  • Updated Date : 12/31/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,561 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

Location and Value!! Just 5 miles to Dallas North Tollway & 2 miles to booming Downtown Celina Historic District! Pay NO extra PID or MUD tax here - valuable yearly savings!! This 5 bedroom is located in center of Heritage sub-division across from open green belt & park. Kids will love the amazing amenities center-includes pool, park, outdoor volleyball, basketball courts, walking trails and plenty of open space! Stunning kitchen, island and plenty of cabinet and counter space for a growing family. Must see plantation shutters and floors! Entertain friends and family under the back covered patio, stained concrete floors, and wired & mounted TV. Newly upgraded landscaping in front and back - larger new trees!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75009

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k415k

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

Zip Code: 75009

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
Celina Elementary School Primary Regular 536 33 NA
Celina Middle School Middle Regular 337 27 8
Celina High School High Regular 677 44 7

Celina Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
NA
GreatSchools Rating

Celina Middle School

  • Education Level: Middle
  • # of students: 337
  • # of teachers: 27
8
GreatSchools Rating

Celina High School

  • Education Level: High
  • # of students: 677
  • # of teachers: 44
7
GreatSchools Rating
 

$322,200$393,800$358,000

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 -$1,321
Property Tax -$641
Property Insurance -$175
HOA -$42
Property Management Fees -$99
CASH FLOW
-$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$358,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,620

INVESTMENT

$100,620

Down Payment
$89,500
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,500
Loan Amount $268,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,892

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
  • $0.85

    LIST RENT PER SQFT
  • $2,113

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0004$2,1705$2,225
$2,225
RENT COMPS ANALYSIS
  • 1405 Bounds Lane Celina, TX 4
    • 5 beds 3 baths ∙ 2,561 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,561 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.85
    •  
  • 1441 Bateman Lane Celina, TX 1
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 2014
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 1200 Stone Lane Celina, TX 2
    • 4 beds 4 baths ∙ 2,696 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,696 Sqft ∙ Built 2006
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 1429 Clayton Lane Celina, TX 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2015
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 4532 Westminster Drive Celina, TX 5
    • 4 beds 4 baths ∙ 2,558 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,558 Sqft ∙ Built 2020
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.87
    •  
PROPERTY LISTING DETAILS
Daniel Trigo
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490215
Last Updated: 12/31/2020
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