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516 S Alabama Street Celina, TX 75009

3 Beds 2 Baths 2,249 sqft Built 1984

$304,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $135.57
  • 3 Days on Market
  • MLS # : 14485312
  • Updated Date : 12/18/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,249 sqft
  • Baths : 2 full
Listing Agent

Taylor Realty Associates

Listing Agent's Description

Don't miss this One of a kind near downtown square of Celina, within walking distance to Elementary school & City park. This One Story has a fresh new face you will not miss when you drive up! Brick home in Celina ISD. Large city lot with mature trees front and back! Home has just been updated exterior to interior. Come see this beautiful home waiting to welcome you inside, where you will find an open concept, wood look vinyl flooring, updated lighting, new kitchen with farmhouse fresh white cabinets, new granite, beautiful stainless appliances. Huge living space. 2 storage buildings one with electricity. Home nestled in a quiet neighborhood. Hard to find in Celina!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75009

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k415k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75009

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
Celina Elementary School Primary Regular 536 33 NA
Celina Middle School Middle Regular 337 27 8
Celina High School High Regular 677 44 7

Celina Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 33
NA
GreatSchools Rating

Celina Middle School

  • Education Level: Middle
  • # of students: 337
  • # of teachers: 27
8
GreatSchools Rating

Celina High School

  • Education Level: High
  • # of students: 677
  • # of teachers: 44
7
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,125
Property Tax -$483
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$304,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8304$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 516 S Alabama Street Celina, TX 3
    • 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.81
    •  
  • 1224 Drake Lane Celina, TX 1
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 511 W Walnut Street Celina, TX 2
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1970
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 1272 Stone Lane Celina, TX 4
    • 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,238 Sqft ∙ Built 2004
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 508 W Pecan Street Celina, TX 5
    • 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 1965
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
PROPERTY LISTING DETAILS
Abby Hall
Taylor Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485312
Last Updated: 12/18/2020
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