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733 Corner Post Path Celina, TX 75009

4 Beds 3 Baths 2,280 sqft Built 2020

INVESTimate

$426,186

List Price

$2,060

$1,854 - $2,266

Rent Est.

$465,480  ( +9.22%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $186.92
  • 4 Days on Market
  • MLS # : 14419366
  • Updated Date : 08/23/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14419366 - Built by Highland Homes - December completion! ~ This one-story home has everything! Nice open layout provides lots of space for entertaining and 8' interior doors make for a grand feeling. Bay windows in the master look out to the backyard. The kitchen features a walk-in pantry and boasts upgraded built-in appliances. An over-sized covered patio is a perfect place to relax!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$383,567$468,805$426,186

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,572
Property Tax -$870
Property Insurance -$159
HOA -$130
Property Management Fees -$99
CASH FLOW
-$770

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$426,186

PROJECTED PRICE

$2,060

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.22%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,939

INVESTMENT

$114,939

Down Payment
$106,547
Rehab Estimate
$2,000
Closing Costs
$6,393

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,547
Loan Amount $319,640
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,2503$2,3004$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 733 Corner Post Path Celina, TX 1
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.90
    •  
  • 525 Barnstorm Drive Celina, TX 2
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2016
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
  • 1500 Grove Drive Celina, TX 3
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2013
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 412 Smokebrush Street Celina, TX 4
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 724 Brenham Avenue Celina, TX 5
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2020
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419366
Last Updated: 08/23/2020
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