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735 Mulberry Court Celina, TX 75009

4 Beds 3 Baths 2,003 sqft Built 2018

$300,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $149.78
  • 4 Days on Market
  • MLS # : 14494723
  • Updated Date : 01/15/2021 at 09:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,003 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Location, location, location! Gorgeous corner lot home within walking distance of Celina's downtown square. This open concept floor plan flows to the light & bright chef's kitchen that features a breakfast nook, recessed lighting, ss appliances, gas burner cooktop, light granite counters paired perfectly with crisp white cabinets & subway tile backsplash! Living area boasts a cozy brick fireplace & laminate flooring throughout the main areas! Large 1st floor primary retreat features granite counters, garden tub, separate shower & walk-in closet. Guest room plus full bath also downstairs. Great outdoor space with covered patio makes for awesome summer parties & backyard BBQ with friends & family! A must see!

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,042
Property Tax -$500
Property Insurance -$143
HOA -$21
Property Management Fees -$99
CASH FLOW
$195

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.

$300,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.67%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$31,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7903$1,9504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 735 Mulberry Court Celina, TX 5
    • 4 beds 3 baths ∙ 2,003 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,003 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 225 Lakeview Way Celina, TX 1
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2001
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 703 W Walnut Street Celina, TX 2
    • 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2015
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.01
    •  
  • 724 Mulberry Court Celina, TX 3
    • 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 2018
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 524 Zion Parkway Celina, TX 4
    • 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2016
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sarah Mccrory
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494723
Last Updated: 01/15/2021
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