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1710 Cherry Blossom Lane Celina, TX 75078

4 Beds 3 Baths 2,407 sqft Built 2020

$435,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $180.72
  • 4 Days on Market
  • MLS # : 14506512
  • Updated Date : 01/30/2021 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,407 sqft
  • Baths : 3 full
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

This amazing 1 story home features 4 bedrooms plus a study and a 3 car width garage. The dramatic foyer leads to a sizable family room with cathedral ceiling. The kitchen features a gorgeous island, stainless steel appliances and has extensive cabinets with a walk-in pantry. With finishing touches like wood and granite make this home is a must see. Pictures on Friday and Showings will be available after 1:00pm on Saturday.

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
Prosper High School High Regular 1,868 120 9
Johnson Elementary School Primary Unknown NA

Cynthia A. Cockrell Elementary School

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

Prosper High School

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

Johnson Elementary School

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

$391,500$478,500$435,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,511
Property Tax -$689
Property Insurance -$166
HOA -$58
Property Management Fees -$99
CASH FLOW
-$514

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.

$435,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.46%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$117,275

INVESTMENT

$117,275

Down Payment
$108,750
Rehab Estimate
$2,000
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,196

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0103$2,2004$2,3755$2,500
$2,500
RENT COMPS ANALYSIS
  • 1710 Cherry Blossom Lane Celina, TX 2
    • 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.84
    •  
  • 2806 Morgan Drive Celina, TX 1
    • 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2007
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.88
    •  
  • 513 Winchester Drive Celina, TX 3
    • 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011
    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
    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
Stephanie Funk
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506512
Last Updated: 01/30/2021
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