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4300 Starlight Creek Road Celina, TX 75009

3 Beds 2 Baths 2,339 sqft Built 2016

$329,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $141.04
  • 7 Days on Market
  • MLS # : 14461085
  • Updated Date : 10/30/2020 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,339 sqft
  • Baths : 2 full
Listing Agent

Axs Realty, Llc

Listing Agent's Description

1-story home in Light Farms neighborhood! This 3-bedroom home features formal living & private study near extended entryway & leads to large open floor plan. Spacious family room opens to Gourmet Kitchen & includes granite counters, ss appliances, gas cook top, & large island. Master Suite includes luxurious bathroom with dual sinks, oversized frameless shower, garden tub, & walk in closet. Granite counter top in both bathrooms. Other features include game room, laundry room mud area in & large covered patio in private backyard with no neighbors behind you! HOA has amenities galore including front yard maintenance, pools, tennis, fitness center, walk & bike trails, & much

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
 

$296,910$362,890$329,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,217
Property Tax -$791
Property Insurance -$162
HOA -$130
Property Management Fees -$99
CASH FLOW
$1

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.

$329,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,526

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,4004$2,6105$2,800
$2,800
RENT COMPS ANALYSIS
  • 4300 Starlight Creek Road Celina, TX 3
    • 3 beds 2 baths ∙ 2,339 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,339 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 412 Smokebrush Street Celina, TX 1
    • 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 2
    • 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
Ted Blanchard
Axs Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461085
Last Updated: 10/30/2020
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