Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

766 Harrington Lane Celina, TX 75009

4 Beds 3 Baths 2,902 sqft Built 2019

$469,999

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $161.96
  • 3 Days on Market
  • MLS # : 14527746
  • Updated Date : 03/06/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,902 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Welcome home to your 4 bedroom almost NEW white bricked American Legend Home.One of the only opportunities to buy in Prosper ISD & Light Farms.This gorgeous 2 story home welcomes you with beautiful hardwood flooring.The soaring living room opens to your luxury kitchen perfect for entertaining.Upgrades include granite countertops, stainless appliances, butlers pantry, designer lighting & shiplap accent wall.The master bathroom is private with quartz countertops and an oversized shower.Storage is everywhere in this home.Upstairs is a spacious game room.Come see all that Light Farms has to offer including an onsite elementary school, parks, pools, Constellation Park, neighborhood restaurant. Pictures coming soon.

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
Light Farms Elementary School Primary Unknown NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Light Farms Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

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
 

$422,999$516,999$469,999

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,632
Property Tax -$908
Property Insurance -$195
HOA -$127
Property Management Fees -$99
CASH FLOW
-$611

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.

$469,999

PROJECTED PRICE

$2,350

PROJECTED RENT

0.50%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,499
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$34

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,975

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,7503$2,8504$2,8755$2,995
$2,995
RENT COMPS ANALYSIS
  • 766 Harrington Lane Celina, TX 1
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.81
    •  
  • 913 Allbright Road Celina, TX 2
    • 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.02
    •  
  • 4213 Harper Avenue Celina, TX 3
    • 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
  • 3732 Homeplace Drive Celina, TX 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2020
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.03
    •  
  • 813 Harrington Avenue Celina, TX 5
    • 4 beds 5 baths ∙ 2,897 Sqft ∙ Built 2020 4 beds 5 baths ∙ 2,897 Sqft ∙ Built 2020
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.03
    •  
PROPERTY LISTING DETAILS
Lorraine Hursman
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527746
Last Updated: 03/06/2021
BESbswy