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1420 Carnation Street Celina, TX 75078

4 Beds 3 Baths 2,254 sqft Built 2017

INVESTimate

$356,000

List Price

$2,180

$1,962 - $2,398

Rent Est.

$373,978  ( +5.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $157.94
  • 6 Days on Market
  • MLS # : 14414625
  • Updated Date : 08/25/2020 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,254 sqft
  • Baths : 3 full
Listing Agent

White Rock Realty

Listing Agent's Description

Make this beautiful one story Highland Home yours. Lots of upgrades, and natural light through out, high ceilings, open concept plan with inviting kitchen including gas cooktop, granite countertops, elegant backsplash, big island with seating, unique knotty alder stained cabinets. Large secluded master bedroom with tub and separate upgraded shower, dual vanities with marble countertops, spacious walk in closet. Wired for surround sound to enjoy those wonderful movie nights. Home office to conduct your business. Energy efficient. This home has your security covered with eight preinstalled camera hardwires for your peace of mind. Approximately three minute walk to Pool(amenity center). Highly coveted Prosper ISD.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75078

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Zip Code: 75078

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263004

* 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
Cynthia A. Cockrell Elementary School Primary Regular 778 54 10
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Cynthia A. Cockrell Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 54
10
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

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

$320,400$391,600$356,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,313
Property Tax -$696
Property Insurance -$157
HOA -$58
Property Management Fees -$99
CASH FLOW
-$144

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.

$356,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,090

INVESTMENT

$100,090

Down Payment
$89,000
Rehab Estimate
$5,750
Closing Costs
$5,340

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,000
Loan Amount $267,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8453$2,1804$2,3755$2,500
$2,500
RENT COMPS ANALYSIS
  • 1420 Carnation Street Prosper, TX 3
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.97
    •  
  • 3006 Morgan Drive Celina, TX 1
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2010
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 449 Lipizzan Lane Celina, TX 2
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2016
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.94
    •  
  • 1412 Daisy Corner Drive Celina, TX 4
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2018
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.92
    •  
  • 3983 Peregrine Point Celina, TX 5
    • 3 beds 4 baths ∙ 2,472 Sqft ∙ Built 2001 3 beds 4 baths ∙ 2,472 Sqft ∙ Built 2001
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Bright Adjei
White Rock Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414625
Last Updated: 08/25/2020
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