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3525 Cimarron River Drive Celina, TX 75078

4 Beds 3 Baths 2,940 sqft Built 2021

$456,769

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.36
  • 3 Days on Market
  • MLS # : 14509438
  • Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,940 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14509438 - Built by Tri Pointe Homes - June completion! ~ The roomy front porch and elegant foyer make it easy to greet guests or chat with neighbors as they pass by. The rest of the home features 4 Bedrooms, 2.5 Bath, Study, 2 Car Garage, Luxury Kitchen, Covered Patio & Media Room all finished out in a sophisticated color palette. Call and schedule your showing 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

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

Windsong 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
 

$411,092$502,446$456,769

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$1,587
Property Tax -$892
Property Insurance -$197
HOA -$54
Property Management Fees -$99
CASH FLOW
$151

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.

$456,769

PROJECTED PRICE

$2,980

PROJECTED RENT

0.65%

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) 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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$123,044

INVESTMENT

$123,044

Down Payment
$114,192
Rehab Estimate
$2,000
Closing Costs
$6,852

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,192
Loan Amount $342,577
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$33,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $3,036

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8503$2,9804$3,1005$3,100
$3,100
RENT COMPS ANALYSIS
  • 3525 Cimarron River Drive Celina, TX 3
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.01
    •  
  • 2909 Driftwood Creek Trail Celina, TX 1
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2017
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.98
    •  
  • 2701 Driftwood Creek Trail Celina, TX 2
    • 4 beds 4 baths ∙ 2,862 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,862 Sqft ∙ Built 2016
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.00
    •  
  • 4428 Canadian River Drive Celina, TX 4
    • 5 beds 4 baths ∙ 2,900 Sqft ∙ Built 2020 5 beds 4 baths ∙ 2,900 Sqft ∙ Built 2020
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
  • 4416 Rainwater Creek Way Celina, TX 5
    • 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2019
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509438
Last Updated: 01/29/2021
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