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4417 Switchgrass Street Celina, TX 75009

5 Beds 3 Baths 3,304 sqft Built 2015

$399,777

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2015
  • Price/Sqft : $121.00
  • 11 Days on Market
  • MLS # : 14457431
  • Updated Date : 10/25/2020 at 14:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,304 sqft
  • Baths : 3 full
Listing Agent

Hometiva

Listing Agent's Description

This home has it all! 5 bedrooms, greenbelt views, prosper ISD, hardwood floors in downstairs, 3 car garage & large outdoor living area with cedar pergola! Open concept floor plan provides ton of natural lighting and beautiful views of the HOA managed green space & tree line! Main living area has corner fireplace, high ceilings & custom trim work! Beautiful kitchen with 2 tone cabinets, shiplap accents on bar, modern tile backsplash, granite counters & stainless appliances with dual oven! Downstairs master retreat with barn door entry to the large bath! 2nd guest suite downstairs with full bath. Upstairs features additional bedrooms, bath, and large game room! Community pools, parks, on site elementary & more!

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
 

$359,799$439,755$399,777

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$1,475
Property Tax -$958
Property Insurance -$218
HOA -$11
Property Management Fees -$99
CASH FLOW
$259

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.

$399,777

PROJECTED PRICE

$3,020

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,691

INVESTMENT

$111,691

Down Payment
$99,944
Rehab Estimate
$5,750
Closing Costs
$5,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,944
Loan Amount $299,833
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$45,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,221

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,0003$3,0204$3,3005$3,795
$3,795
RENT COMPS ANALYSIS
  • 4417 Switchgrass Street Celina, TX 3
    • 5 beds 3 baths ∙ 3,304 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,304 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $0.91
    •  
  • 758 Harrington Lane Celina, TX 1
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2017
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.98
    •  
  • 1425 Bridgewater Boulevard Celina, TX 2
    • 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
  • 1521 Lariat Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.94
    •  
  • 4421 Hazeltine Hills Drive Celina, TX 5
    • 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.05
    •  
PROPERTY LISTING DETAILS
Brandon Carrington
Hometiva
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457431
Last Updated: 10/25/2020
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