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3447 N Preston Lakes Drive Celina, TX 75009

3 Beds 4 Baths 3,257 sqft Built 2014

INVESTimate

$670,000

List Price

$3,090

$2,840 - $3,340

Rent Est.

$731,774  ( +9.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $205.71
  • 6 Days on Market
  • MLS # : 14376784
  • Updated Date : 08/25/2020 at 11:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,257 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fraser Realty

Listing Agent's Description

STUNNING HOME, ACREAGE, HORSES IN CELINA! Located in beautiful North Preston Lake Estates this one owner home boasts everything you can think of & more! Gourmet Kitchen has upgraded appliances & cabinets, massive island & farm sink, main living area opens to patio with double sliding doors, hardwood floors, ONE OF A KIND Owners retreat that will knock your socks off! Massive shower with body sprays, huge tub, tankless water heaters that know when you enter the room, fireplace & sitting area. MAN CAVE, big utility with cabinets galore, 2nd & 3rd bedrooms on other side of the house each with full bath. SHOP is 36x30 with WATER & ELECTRIC ready for toys or boat! Stairs to large floored attic. RARE FIND!!

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
Celina Elementary School Primary Regular 536 33 NA
Celina Middle School Middle Regular 337 27 8
Celina High School High Regular 677 44 7

Celina Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
NA
GreatSchools Rating

Celina Middle School

  • Education Level: Middle
  • # of students: 337
  • # of teachers: 27
8
GreatSchools Rating

Celina High School

  • Education Level: High
  • # of students: 677
  • # of teachers: 44
7
GreatSchools Rating
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

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-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,472
Property Tax -$1,323
Property Insurance -$215
HOA -$23
Property Management Fees -$99
CASH FLOW
-$1,043

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.

$670,000

PROJECTED PRICE

$3,090

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.22%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$32

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,322

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,090
1$3,0902$3,500
$3,500
RENT COMPS ANALYSIS
  • 3447 N Preston Lakes Drive Celina, TX 1
    • 3 beds 4 baths ∙ 3,257 Sqft ∙ Built 2014 3 beds 4 baths ∙ 3,257 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $0.95
    •  
  • 3473 N Preston Lakes Drive Celina, TX 2
    • 4 beds 4 baths ∙ 3,428 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,428 Sqft ∙ Built 1997
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Mary Mccauley
Fraser Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14376784
Last Updated: 08/25/2020
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