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4341 Switchgrass Street Celina, TX 75009

4 Beds 3 Baths 2,731 sqft Built 2016

INVESTimate

$385,000

List Price

$2,740

$2,490 - $2,990

Rent Est.

$408,562  ( +6.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $140.97
  • 6 Days on Market
  • MLS # : 14415079
  • Updated Date : 08/24/2020 at 10:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,731 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Charming one story with a full three car garage. This nice open floor plan boasts 4 bedrooms a study and formal dining the can be easily used for a media room or playroom. This home sits on a green belt lot in the amazing community of Light Farms with award winning Prosper ISD, an onsite elementary school, gym, The Nook Cafe, 5 pools, over 15 miles of trails, 90 acre lake for fishing and paddle boarding and much much more. Washer and dryer, refrigerator, Master bedroom and living room tv's to stay with acceptable offer.

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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,466$3,014$2,740

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-$5.0k$0.0$5.0k$10k

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 $2,740
EXPENSES Loan Payment -$1,420
Property Tax -$901
Property Insurance -$185
HOA -$132
Property Management Fees -$99
CASH FLOW
$3

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.

$385,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.71%

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$18,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,740
1$2,7402$2,7503$2,8004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 4341 Switchgrass Street Celina, TX 1
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.00
    •  
  • 913 Allbright Road Celina, TX 2
    • 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
    •  
  • 4134 Kingston Lane Celina, TX 3
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2017
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
  • 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
    •  
  • 4213 Harper Avenue Celina, TX 5
    • 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Danielle Durbin
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415079
Last Updated: 08/24/2020
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