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2608 Preakness Place Celina, TX 75009

4 Beds 3 Baths 2,545 sqft Built 2021

$511,900

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $201.14
  • 3 Days on Market
  • MLS # : 14513901
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,545 sqft
  • Baths : 3 full
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Extended entry with 13-foot ceiling leads to open kitchen, dining area and family room. Kitchen offers generous counter space, corner walk-in pantry and inviting island with built-in seating space. Dining area flows into family room with a wood mantel fireplace and a wall of windows. Game room with French doors just across from kitchen. Primary suite includes double-door entry to primary bath with dual vanities, garden tub, separate glass-enclosed shower and two large walk-in closets. Secondary bedrooms feature walk-in closets. Covered backyard patio. Mud room off two-car garage.

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
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
 

$460,710$563,090$511,900

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,778
Property Tax -$811
Property Insurance -$174
HOA -$182
Property Management Fees -$99
CASH FLOW
-$235

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.

$511,900

PROJECTED PRICE

$2,810

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$137,654

INVESTMENT

$137,654

Down Payment
$127,975
Rehab Estimate
$2,000
Closing Costs
$7,679

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,975
Loan Amount $383,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,768

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4003$2,5004$2,5505$2,810
$2,810
RENT COMPS ANALYSIS
  • 2608 Preakness Place Celina, TX 5
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.10
    •  
  • 2932 Seattle Slew Drive Celina, TX 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2018
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.02
    •  
  • 3229 Sky Lane Celina, TX 2
    • 3 beds 2 baths ∙ 2,221 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,221 Sqft ∙ Built 2016
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
  • 2927 Bold Ruler Road Celina, TX 3
    • 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 3123 Cavalry Way Celina, TX 4
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.13
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513901
Last Updated: 02/05/2021
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