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3005 Culver Avenue Celina, TX 75009

4 Beds 3 Baths 2,129 sqft Built 2021

$402,158

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $188.90
  • 7 Days on Market
  • MLS # : 14495958
  • Updated Date : 01/25/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Escape Realty

Listing Agent's Description

Built by MI Homes. Beautiful 1 story home with 11 foot high ceilings throughout, totaling 4 beds, 2.5 bathrooms, and wide open concept that combines the modern kitchen and family area seamlessly. This home features granite counter tops along with Luxury Vinyl Plank flooring throughout main living areas. Large owner's suite with walk-in closet and a separate shower and garden tub. The private backyard has a fully covered patio to relax after your day is done! This home is located in the highly sought after Light Farms community with top rated Prosper ISD and on-site Elementary school. Make this home yours today!

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

Neighborhood: Light Farms

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k415k

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

Neighborhood: Light Farms

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
Light Farms Elementary School Primary Unknown NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Light Farms Elementary School

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

$361,942$442,374$402,158

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,397
Property Tax -$637
Property Insurance -$150
HOA -$175
Property Management Fees -$99
CASH FLOW
-$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$402,158

PROJECTED PRICE

$2,370

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$108,572

INVESTMENT

$108,572

Down Payment
$100,540
Rehab Estimate
$2,000
Closing Costs
$6,032

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,540
Loan Amount $301,619
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,353

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3704$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3005 Culver Avenue Celina, TX 3
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.11
    •  
  • 849 Underwood Lane Celina, TX 1
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2019
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
  • 1500 Grove Drive Celina, TX 2
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2013
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 724 Brenham Avenue Celina, TX 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 3739 Wagon Wheel Way Celina, TX 5
    • 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2015
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.18
    •  
PROPERTY LISTING DETAILS
Cassian Bernard
Escape Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495958
Last Updated: 01/25/2021
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