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705 Bluebird Way Celina, TX 75009

3 Beds 4 Baths 2,602 sqft Built 2018

$365,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $140.28
  • 3 Days on Market
  • MLS # : 14504123
  • Updated Date : 01/23/2021 at 17:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,602 sqft
  • Baths : 2 full , 2 half
Listing Agent

Monument Realty

Listing Agent's Description

Act quickly for this barely lived in 2018 built home in Bluewood community near O'Dell Elementary School in Celina ISD. The home features 3 bedrooms, 2 full baths and 2 half baths, study, dining area, and HUGE upstairs game room. Owner installed custom-built electric fireplace with stone floor-to-ceiling. Kitchen features white cabinetry, stainless steel appliances, granite countertops and stylish tile backsplash. Act fast, this gem will not last.

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

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,268
Property Tax -$579
Property Insurance -$178
HOA -$50
Property Management Fees -$99
CASH FLOW
$47

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.

$365,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.61%

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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,257

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2204$2,5755$2,600
$2,600
RENT COMPS ANALYSIS
  • 705 Bluebird Way Celina, TX 3
    • 3 beds 4 baths ∙ 2,602 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,602 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.85
    •  
  • 416 Dartmoor Drive Celina, TX 1
    • 4 beds 2 baths ∙ 2,405 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,405 Sqft ∙ Built 2005
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 516 Mustang Trail Celina, TX 2
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2007
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 812 Monarch Lane Celina, TX 4
    • 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.87
    •  
  • 949 Bluebird Way Celina, TX 5
    • 4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
PROPERTY LISTING DETAILS
Greg Rice
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504123
Last Updated: 01/23/2021
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