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708 Monarch Lane Celina, TX 75009

3 Beds 2 Baths 1,904 sqft Built 2018

$305,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $160.19
  • 5 Days on Market
  • MLS # : 14462350
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

This beautiful and bright one story home is simply stunning! Like new, only better! High ceilings, beautiful hardwood flooring and flowing open concept kitchen, make this home the entertaining family's dream. The kitchen boasts granite countertops, upper and lower cabinets, stainless steel appliances and a wonderful oversized island. No need to keep the entertaining indoors. The backyard and covered patio are perfect for outdoor living. Master is flooded with light and spacious. Walk right across the street to O'Dell Elementary! This home has so many extras! Tankless hot water heater, water purification system, wonderful built in nook right off the garage...perfect for storage. Hurry...this won't last long!

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

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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,125
Property Tax -$538
Property Insurance -$137
HOA -$46
Property Management Fees -$99
CASH FLOW
-$106

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.

$305,000

PROJECTED PRICE

$1,840

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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8403$1,8504$1,8505$1,997
$1,997
RENT COMPS ANALYSIS
  • 708 Monarch Lane Celina, TX 2
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.97
    •  
  • 512 Paddock Lane Celina, TX 1
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2011
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 421 Mustang Trail Celina, TX 3
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2004
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 427 Mustang Trail Celina, TX 4
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 912 Slate Lane Celina, TX 5
    • 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,879 Sqft ∙ Built 2018
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,997
    • $1.06
    •  
PROPERTY LISTING DETAILS
Michelle Selner
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462350
Last Updated: 10/30/2020
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