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1608 Carnation Street Celina, TX 75078

4 Beds 3 Baths 2,346 sqft Built 2020

$402,335

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.50
  • 6 Days on Market
  • MLS # : 14469073
  • Updated Date : 11/11/2020 at 08:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,346 sqft
  • Baths : 3 full
Listing Agent

American Legend Homes

Listing Agent's Description

This 4 bedroom, 3 bath home features a study, open kitchen facing the family room with floor-to-ceiling windows bringing in natural light. The primary bath has dual sinks and spacious closet. With professionally selected design options, it is a showplace.

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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
 

$362,102$442,569$402,335

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 -$1,484
Property Tax -$786
Property Insurance -$163
HOA -$58
Property Management Fees -$99
CASH FLOW
-$421

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$402,335

PROJECTED PRICE

$2,170

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,619

INVESTMENT

$108,619

Down Payment
$100,584
Rehab Estimate
$2,000
Closing Costs
$6,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,484

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,584
Loan Amount $301,751
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$842

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
  • $0.92

    LIST RENT PER SQFT
  • $2,147

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1703$2,2004$2,3755$2,500
$2,500
RENT COMPS ANALYSIS
  • 1608 Carnation Street Celina, TX 2
    • 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.92
    •  
  • 3006 Morgan Drive Celina, TX 1
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2010
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 513 Winchester Drive Celina, TX 3
    • 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 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
    property image
    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
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Eric Stanley
American Legend Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469073
Last Updated: 11/11/2020
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