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4039 Starlight Creek Drive Celina, TX 75009

4 Beds 3 Baths 2,337 sqft Built 2020

INVESTimate

$428,499

List Price

$2,300

$2,070 - $2,530

Rent Est.

$454,723  ( +6.12%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $183.35
  • 4 Days on Market
  • MLS # : 14419369
  • Updated Date : 08/23/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,337 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14419369 - Built by Highland Homes - December completion! ~ 1 Story Home with Beautiful Cabinetry, Upgraded Quartz Countertops In Kitchen, Built-In Oven & Microwave, Gas Cooktop- Vented To The Exterior, Upgraded flooring Throughout Main Areas Of Home, Separate Shower & Freestanding Tub In Master Bath, Double Vanities with Knee Space In Master Bath and Separate Water Closet.

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

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
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

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
 

$385,649$471,349$428,499

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,581
Property Tax -$679
Property Insurance -$162
HOA -$130
Property Management Fees -$99
CASH FLOW
-$351

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$428,499

PROJECTED PRICE

$2,300

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.12%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,552

INVESTMENT

$115,552

Down Payment
$107,125
Rehab Estimate
$2,000
Closing Costs
$6,427

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,581

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,125
Loan Amount $321,374
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,524

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3504$2,6105$2,800
$2,800
RENT COMPS ANALYSIS
  • 4039 Starlight Creek Drive Celina, TX 1
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 412 Smokebrush Street Celina, TX 2
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 724 Brenham Avenue Celina, TX 3
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
  • 404 Stableford Street Celina, TX 4
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2016
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.07
    •  
  • 4115 Lightcreek Lane Celina, TX 5
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2019
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.18
    •  
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 #: 14419369
Last Updated: 08/23/2020
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