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2620 Maverick Way Celina, TX 75009

4 Beds 4 Baths 2,842 sqft Built 2018

$574,990

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $202.32
  • 7 Days on Market
  • MLS # : 14497612
  • Updated Date : 01/14/2021 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,842 sqft
  • Baths : 4 full
Listing Agent

David M. Weekley

Listing Agent's Description

DAVID WEEKLEY Model - MUSTANG LAKES! This gorgeous 1.5 story model home features upgrades galore! Beautiful designer touches everywhere including ceilings and wall accents. 4 bedrooms, 4 baths, 2 car, open concept & extended covered patio. A kitchen that boasts Quartz Countertops, SS appliances, gorgeous counters & island. Owner's retreat includes try ceiling & in Prosper ISD.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
John A. Baker Elementary School Primary Regular 698 53 8
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

John A. Baker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 53
8
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
 

$517,491$632,489$574,990

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,997
Property Tax -$911
Property Insurance -$191
HOA -$132
Property Management Fees -$99
CASH FLOW
-$651

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.

$574,990

PROJECTED PRICE

$2,680

PROJECTED RENT

0.47%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,122

INVESTMENT

$158,122

Down Payment
$143,748
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,748
Loan Amount $431,243
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,693

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,6803$2,7004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 2620 Maverick Way Celina, TX 2
    • 4 beds 4 baths ∙ 2,842 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,842 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.94
    •  
  • 1412 Daisy Corner Drive Celina, TX 1
    • 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
    •  
  • 2928 Bold Ruler Road Celina, TX 3
    • 3 beds 3 baths ∙ 2,748 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,748 Sqft ∙ Built 2016
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.98
    •  
  • 3038 Seattle Slew Drive Celina, TX 4
    • 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 2017
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.94
    •  
  • 1427 Daisy Corner Drive Celina, TX 5
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2019
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.95
    •  
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 #: 14497612
Last Updated: 01/14/2021
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