Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2523 Appaloosa Lane Celina, TX 75009

5 Beds 3 Baths 2,685 sqft Built 2013

$385,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $143.39
  • 3 Days on Market
  • MLS # : 14511782
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,685 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

You don't want to miss this beautifully upgraded home in the sought after Carter Ranch neighborhood! New carpet installed in summer 2020. The home has tall ceilings and an open floor plan. Upgraded California kitchen and large loft area perfect for a game room, play room, or second living area. This home is 5 bed 3 full baths. Kitchen has granite countertops, double oven, a coffee bar, gas stove top, and large island with lots of cabinets. Other features include a stone gas burning fireplace, wrought iron stair case, and a covered plus extended patio. The Carter Ranch community has a pool, multiple parks, pond, and trails and this home is in walking distance of all of it!

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

Zip Code: 75009

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k415k

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

Zip Code: 75009

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
Celina Elementary School Primary Regular 536 33 NA
Celina Middle School Middle Regular 337 27 8
Celina High School High Regular 677 44 7

Celina Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
NA
GreatSchools Rating

Celina Middle School

  • Education Level: Middle
  • # of students: 337
  • # of teachers: 27
8
GreatSchools Rating

Celina High School

  • Education Level: High
  • # of students: 677
  • # of teachers: 44
7
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,337
Property Tax -$610
Property Insurance -$182
HOA -$55
Property Management Fees -$99
CASH FLOW
-$244

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.

$385,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,815

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0403$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2523 Appaloosa Lane Celina, TX 2
    • 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,685 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.76
    •  
  • 406 Paddock Lane Celina, TX 1
    • 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2014
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 516 Mustang Trail Celina, TX 3
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 432 Winchester Drive Celina, TX 4
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2016
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 513 Winchester Drive Celina, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Shelby Caddell
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511782
Last Updated: 02/05/2021
BESbswy