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417 Barnstorm Drive Celina, TX 75009

5 Beds 3 Baths 2,757 sqft Built 2015

INVESTimate

$359,900

List Price

$2,720

$2,470 - $2,970

Rent Est.

$381,926  ( +6.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $130.54
  • 8 Days on Market
  • MLS # : 14416987
  • Updated Date : 08/23/2020 at 09:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,757 sqft
  • Baths : 3 full
Listing Agent

Taylor Realty Associates

Listing Agent's Description

Beautiful Craftsman Style built by Horizon Homes located in the master planned community of Light Farms that offers a Community Clubhouse, several pools, lots of greenbelt areas, jogging-bike paths, parks, & a private lake-pond. Located in the popular highly rated Prosper ISD. Home offers 5 bedrooms (2 down and 3 up), 3 full baths, & 3 living areas. Kitchen has stainless steel appliances, granite counter tops, a large island & is open to the main living area (great for entertaining family & friends). Included with the purchase: refrigerators in kitchen & garage, washer & dryer, 2 ceiling storage racks in garage, special filter on shower head in master bath, and an electronic air filter on one furnace.

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
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
 

$323,910$395,890$359,900

PURCHASE PRICE

$2,448$2,992$2,720

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,328
Property Tax -$795
Property Insurance -$187
HOA -$130
Property Management Fees -$99
CASH FLOW
$181

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.

$359,900

PROJECTED PRICE

$2,720

PROJECTED RENT

0.76%

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) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$34,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,661

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,7203$2,7504$2,8005$2,990
$2,990
RENT COMPS ANALYSIS
  • 417 Barnstorm Drive Celina, TX 2
    • 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.99
    •  
  • 4128 Winslow Drive Celina, TX 1
    • 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 2017
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 913 Allbright Road Celina, TX 3
    • 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.02
    •  
  • 4220 Harper Avenue Celina, TX 4
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2017
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.01
    •  
  • 420 Stableford Street Celina, TX 5
    • 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2016
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.01
    •  
PROPERTY LISTING DETAILS
Andy Mcanally
Taylor Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416987
Last Updated: 08/23/2020
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