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840 Harrington Lane Celina, TX 75009

4 Beds 4 Baths 2,992 sqft Built 2020

$500,335

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $167.22
  • 5 Days on Market
  • MLS # : 14463001
  • Updated Date : 10/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,992 sqft
  • Baths : 3 full , 1 half
Listing Agent

American Legend Homes

Listing Agent's Description

Beautiful brick 2-story home with 4 bedrooms, 3.5 baths, game room, media room and 3-car tandem garage. This home features soaring ceilings, wood floors, fireplace and a gourmet kitchen. The primary bedroom has a bay window and the primary bathroom is oversized with a soaker tub, separate shower and incredible spacious closet.

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

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
 

$450,302$550,369$500,335

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,846
Property Tax -$1,022
Property Insurance -$200
HOA -$125
Property Management Fees -$99
CASH FLOW
-$262

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$500,335

PROJECTED PRICE

$3,030

PROJECTED RENT

0.61%

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) 3.00%
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

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$134,589

INVESTMENT

$134,589

Down Payment
$125,084
Rehab Estimate
$2,000
Closing Costs
$7,505

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,846

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,084
Loan Amount $375,251
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $3,022

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9903$2,9954$3,0305$3,100
$3,100
RENT COMPS ANALYSIS
  • 840 Harrington Lane Celina, TX 4
    • 4 beds 4 baths ∙ 2,992 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,992 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.01
    •  
  • 4110 Harper Avenue Celina, TX 1
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2017
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.95
    •  
  • 420 Stableford Street Celina, TX 2
    • 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2016
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.01
    •  
  • 813 Harrington Avenue Celina, TX 3
    • 4 beds 5 baths ∙ 2,897 Sqft ∙ Built 2020 4 beds 5 baths ∙ 2,897 Sqft ∙ Built 2020
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.03
    •  
  • 1611 Lilac Lane Celina, TX 5
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2020
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Eric Stanley
American Legend Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463001
Last Updated: 10/30/2020
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