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3712 Norwood Avenue Celina, TX 75009

4 Beds 2 Baths 2,103 sqft Built 2021

$458,347

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $217.95
  • 8 Days on Market
  • MLS # : 14510044
  • Updated Date : 02/02/2021 at 13:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,103 sqft
  • Baths : 2 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14510044 - Built by Highland Homes - August completion! ~ Stunning single story home with light and bright upgraded kitchen! Beautiful master bay window, upgraded appliances, painted cabinets, level 3 quartz countertops, hardwood floors throughout main living area, upgraded backsplash and more. All of this built with energy efficiency in mind and smart home features included!

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

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$412,512$504,182$458,347

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,592
Property Tax -$936
Property Insurance -$149
HOA -$125
Property Management Fees -$99
CASH FLOW
-$870

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.

$458,347

PROJECTED PRICE

$2,030

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,462

INVESTMENT

$123,462

Down Payment
$114,587
Rehab Estimate
$2,000
Closing Costs
$6,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,592

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,587
Loan Amount $343,760
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$36

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,298

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,0503$2,1504$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3712 Norwood Avenue Celina, TX 1
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.97
    •  
  • 3725 Bennett Trail Celina, TX 2
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2020
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.04
    •  
  • 3708 Bennett Trail Celina, TX 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2020
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.09
    •  
  • 849 Underwood Lane Celina, TX 4
    • 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
    •  
  • 724 Brenham Avenue Celina, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510044
Last Updated: 02/02/2021
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