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1610 Post Oak Way Celina, TX 75009

4 Beds 4 Baths 3,131 sqft Built 2014

$540,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $172.47
  • 3 Days on Market
  • MLS # : 14527628
  • Updated Date : 03/06/2021 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,131 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Pool & gorgeous outdoor living make this 4 bedroom home in Light Farms a one of a kind. The welcoming front porch and stone elevation create a beautiful first impression. Upgrades include nail down hardwood flooring, granite countertop, coffered ceilings, custom built ins & a beautiful barn door. The backyard view to your very own pool and outdoor living with kitchen is an entertainer's dream. The secluded master has a view to your outdoor oasis. Upstairs has 3 bedrooms with 2 full baths, game room with desk area & media room. Come see all that Light Farms has to offer including an onsite elementary school, parks, pools, Constellation Park, neighborhood restaurant and more. Prosper ISD & resort living.

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
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,876
Property Tax -$915
Property Insurance -$208
HOA -$127
Property Management Fees -$99
CASH FLOW
-$365

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.

$540,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.53%

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,045

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,860
1$2,8602$2,9753$3,0004$3,0505$3,100
$3,100
RENT COMPS ANALYSIS
  • 1610 Post Oak Way Celina, TX 1
    • 4 beds 4 baths ∙ 3,131 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,131 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $0.91
    •  
  • 1208 Briscoe Drive Celina, TX 2
    • 4 beds 4 baths ∙ 3,058 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,058 Sqft ∙ Built 2015
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.97
    •  
  • 1425 Bridgewater Boulevard Celina, TX 3
    • 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 4
    • 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
    •  
  • 1611 Lilac Lane Celina, TX 5
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Lorraine Hursman
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527628
Last Updated: 03/06/2021
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