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3212 Preston Hills Circle Celina, TX 75078

4 Beds 3 Baths 3,511 sqft Built 1984

$650,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $185.13
  • 7 Days on Market
  • MLS # : 14444688
  • Updated Date : 11/09/2020 at 22:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,511 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

THE ONE YOU'VE BEEN WAITING FOR... Great bones, a fantastic lot in highly desired Prosper ISD, and the chance to channel your favorite designer inspiration. With generous room sizes and an easy to work with floorplan, this home is ready for family and entertaining. Special features include open living areas, expansive kitchen, executive home office, and a view of exotic livestock. The guest suite has a bath with wheelchair access. Pool house interior is unfinished, recently plumbed for a bath and insulated. Recent kitchen updates, pool updates in 2016, 1 HVAC replaced in summer 2020. Many windows already replaced. 50 yr shingles with warranty, eligible for insurance discount.

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: 75078

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Zip Code: 75078

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263004

* 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,398
Property Tax -$1,048
Property Insurance -$230
Property Management Fees -$99
CASH FLOW
-$805

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.

$650,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3503$2,4954$2,970
$2,970
RENT COMPS ANALYSIS
  • 3212 Preston Hills Circle Celina, TX 4
    • 4 beds 3 baths ∙ 3,511 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,511 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.85
    •  
  • 700 Trail Drive Prosper, TX 1
    • 5 beds 4 baths ∙ 3,265 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,265 Sqft ∙ Built 2004
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.64
    •  
  • 612 Creek View Drive Prosper, TX 2
    • 4 beds 4 baths ∙ 3,210 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,210 Sqft ∙ Built 2001
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.73
    •  
  • 831 Bridgeport Lane Prosper, TX 3
    • 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.68
    •  
PROPERTY LISTING DETAILS
Terri Mccutcheon
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14444688
Last Updated: 11/09/2020
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