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824 Cobalt Drive Celina, TX 75009

4 Beds 4 Baths 2,908 sqft Built 2018

$410,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $140.99
  • 3 Days on Market
  • MLS # : 14517962
  • Updated Date : 02/13/2021 at 15:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,908 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dhs Realty

Listing Agent's Description

Gorgeous, nearly new home with all the right touches! This Lennar built home celebrates both beauty & functionality with an open floor plan that exceeds all expectations. Four bedrooms all located on the first floor, Three full bathrooms, plus an upstairs game room with its own half bathroom. Large, gourmet kitchen with eat-in island, coffee bar, LARGE pantry, gas cook-top and stainless steel appliances. Beautiful master's retreat features a stunning accent wall. Walking distance to the park, community pool, O'Dell elementary school & Collin College. Welcome home!

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
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,424
Property Tax -$682
Property Insurance -$195
HOA -$46
Property Management Fees -$99
CASH FLOW
-$36

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.

$410,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.59%

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$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,610

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4103$2,5754$2,5955$2,950
$2,950
RENT COMPS ANALYSIS
  • 824 Cobalt Drive Celina, TX 2
    • 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.83
    •  
  • 513 Winchester Drive Celina, TX 1
    • 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 2011
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 812 Monarch Lane Celina, TX 3
    • 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,950 Sqft ∙ Built 2018
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.87
    •  
  • 805 Cobalt Drive Celina, TX 4
    • 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,911 Sqft ∙ Built 2019
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
  • 716 Lawndale Street Celina, TX 5
    • 4 beds 3 baths ∙ 2,974 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,974 Sqft ∙ Built 2018
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Allie Johnson
Dhs Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517962
Last Updated: 02/13/2021
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