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3710 Wagon Wheel Way Celina, TX 75009

3 Beds 3 Baths 2,926 sqft Built 2015

$425,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $145.25
  • 4 Days on Market
  • MLS # : 14526375
  • Updated Date : 03/06/2021 at 17:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,926 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mersal Realty

Listing Agent's Description

American Legend built home in PROSPER ISD, featuring 3-bedrooms, master on the first floor and other 2 secondary bedrooms on second floor, 2-full bathrooms and one half bath with study, large game room, and a 2 car garage!. Enjoy your owners retreat in the luxurious master suite including your master bathroom with granite countertops, separate garden tub and large shower and separate vanities. Spacious kitchen has Knotty Alder Cabinets ,island with granite countertops and built-in stainless-steel appliances is a chef's delight.Backyard has Covered patio with Paved sitting area ! This is the perfect family home in Most sought after Light Farms Community!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,476
Property Tax -$830
Property Insurance -$196
HOA -$125
Property Management Fees -$99
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$425,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.65%

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) 8.00%
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-$5.0k$0.0$5.0k$10k$15k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$20,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,028

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,8503$2,9754$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 3710 Wagon Wheel Way Celina, TX 1
    • 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.94
    •  
  • 4213 Harper Avenue Celina, TX 2
    • 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
  • 1208 Briscoe Drive Celina, TX 3
    • 4 beds 4 baths ∙ 3,058 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,058 Sqft ∙ Built 2015
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.97
    •  
  • 1113 Skyflower Lane Celina, TX 4
    • 4 beds 4 baths ∙ 2,738 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,738 Sqft ∙ Built 2016
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.10
    •  
  • 1611 Lilac Lane Celina, TX 5
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ram Madi Reddy
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526375
Last Updated: 03/06/2021
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