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717 Allbright Street Celina, TX 75009

4 Beds 2 Baths 2,420 sqft Built 2016

$450,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $185.95
  • 2 Days on Market
  • MLS # : 14536756
  • Updated Date : 03/20/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,420 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Outstanding lightly lived in-no pets w-open floor plan tons of natural lighting, high ceilings, upgraded wood flooring in entry, family, dining, kitchen. Upgraded lighting package.Brick fireplace w-gas logs. Plantation Shutters. LG Kitchen with Granite, large Island and walk in pantry. 4 year old roof, Ring doorbell and electronic door lock, LG Master with separate sinks and separate shower-tub and walk in closet.Secondary bedrooms are sep. This home is perfectly positioned in the Light Farms Community with 5 Pools, Tennis, Basket Ball, an Herb Garden, Dog Park, Walking Trails, Club House, Fitness, Playground, Tennis, etc. Superior ISDs. You will not be disappointed. For more community Info www.lightfarmstx.com

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

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,563
Property Tax -$919
Property Insurance -$167
HOA -$132
Property Management Fees -$99
CASH FLOW
$90

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.

$450,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.66%

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-$5.0k$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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,971

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,8003$2,9004$2,9705$3,000
$3,000
RENT COMPS ANALYSIS
  • 717 Allbright Street Celina, TX 4
    • 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.23
    •  
  • 745 Corner Post Path Celina, TX 1
    • 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2020
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.10
    •  
  • 4115 Lightcreek Lane Celina, TX 2
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2019
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.18
    •  
  • 3717 Brinkley Drive Celina, TX 3
    • 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2021
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.28
    •  
  • 605 Allbright Road Celina, TX 5
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2016
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.35
    •  
PROPERTY LISTING DETAILS
Susan Ferguson
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536756
Last Updated: 03/20/2021
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