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846 Underwood Lane Celina, TX 75009

4 Beds 3 Baths 2,789 sqft Built 2017

$475,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $170.31
  • 3 Days on Market
  • MLS # : 14536076
  • Updated Date : 03/27/2021 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,789 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Immaculate Highland built home located in the Eastland section of coveted Light Farms! Fantastic layout has two bedrooms down with a private study and formal dining room. Two bedrooms and game room up. Beautiful wood floors and gorgeous white kitchen opens to living room, breakfast area and formal dining. Great for entertaining inside or out on its extended, covered patio. Room for a pool too! Neighborhood amenities include 5 resort-style pools, state-of-the art fitness center, multiple playgrounds, tennis and basketball courts, sand volleyball, 11-acre lake with beach, The Nook neighborhood restaurant and bar, and miles of hike and bike trails.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,650
Property Tax -$883
Property Insurance -$188
HOA -$125
Property Management Fees -$99
CASH FLOW
-$185

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.

$475,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.58%

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-$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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,915

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,8503$2,8754$2,9905$2,995
$2,995
RENT COMPS ANALYSIS
  • 846 Underwood Lane Celina, TX 1
    • 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.99
    •  
  • 4213 Harper Avenue Celina, TX 2
    • 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 3
    • 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
    •  
  • 4209 Switchgrass Street Celina, TX 4
    • 4 beds 4 baths ∙ 2,725 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,725 Sqft ∙ Built 2018
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.10
    •  
  • 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
Quinn Ray
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 #: 14536076
Last Updated: 03/27/2021
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