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1615 Gardenia Street Celina, TX 75078

5 Beds 4 Baths 3,404 sqft Built 2018

$480,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $141.01
  • 2 Days on Market
  • MLS # : 14463887
  • Updated Date : 11/02/2020 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,404 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Do not miss your opportunity to own a large lot, single story in Lilyana. You will fall in love when you walk in the open, designed for entertaining, foyer leading past the dining area and into the massive living area with its wall of windows overlooking the generous backyard. If you and your guests love to congregate in the kitchen, you will not be disappointed; it is open to both the living and breakfast areas so you will not miss a thing. The kitchen features Whirlpool SS double ovens, dishwasher, and microwave and an elegant six burner gas KitchenAid cooktop and vent. After the meal, there is plenty of space to run or relax in the backyard; if you prefer the indoors, the media room helps fit the bill.

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
 

$432,000$528,000$480,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$1,771
Property Tax -$920
Property Insurance -$224
HOA -$58
Property Management Fees -$99
CASH FLOW
$138

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.

$480,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.67%

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) 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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$39,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,183

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,2103$3,300
$3,300
RENT COMPS ANALYSIS
  • 1615 Gardenia Street Celina, TX 2
    • 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.94
    •  
  • 850 Wind Brook Lane Prosper, TX 1
    • 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.93
    •  
  • 1521 Lariat Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Chris Smith
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463887
Last Updated: 11/02/2020
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