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2527 Preakness Place Celina, TX 75009

4 Beds 5 Baths 3,168 sqft Built 2020

$484,859

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $153.05
  • 4 Days on Market
  • MLS # : 14470552
  • Updated Date : 11/12/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,168 sqft
  • Baths : 4 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY IN MUSTANG LAKES! The beautiful community that offers a resort lifestyle with pools, tennis courts, gym, and amenity center full of activities. The Lankford offers am open floor plan with high ceilings and space for entertaining and relaxing. Don't forget to ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy Saver Program!

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: 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
Cynthia A. Cockrell Elementary School Primary Regular 778 54 10
Reynolds Middle School Middle Regular 1,048 68 8
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

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
 

$436,373$533,345$484,859

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$1,789
Property Tax -$769
Property Insurance -$210
HOA -$132
Property Management Fees -$99
CASH FLOW
$11

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.

$484,859

PROJECTED PRICE

$3,010

PROJECTED RENT

0.62%

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) 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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,488

INVESTMENT

$130,488

Down Payment
$121,215
Rehab Estimate
$2,000
Closing Costs
$7,273

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,215
Loan Amount $363,644
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$28,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,978

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,8003$2,9004$3,010
$3,010
RENT COMPS ANALYSIS
  • 2527 Preakness Place Celina, TX 4
    • 4 beds 5 baths ∙ 3,168 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,168 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $0.95
    •  
  • 805 Cobalt Drive Celina, TX 1
    • 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2019
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
  • 3038 Seattle Slew Drive Celina, TX 2
    • 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2017
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.94
    •  
  • 1427 Daisy Corner Drive Celina, TX 3
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2019
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470552
Last Updated: 11/12/2020
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