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930 Mellanie Court Celina, TX 75009

6 Beds 3 Baths 3,157 sqft Built 2003

$399,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $126.67
  • 2 Days on Market
  • MLS # : 14496945
  • Updated Date : 01/09/2021 at 15:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,157 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Plano

Listing Agent's Description

This Celina home offers 6 bedrooms, 3 baths plus study. Covered porch and patio. 18x18 covered pad for outdoor cooking and entertaining. Kitchen offers granite, island, 42 in cabinets, pull out drawers for storage, Intercom system . Master bedroom is down along with 3 bedrooms and an Exquisite study with custom book cases. 2 bedrooms and 1 full bath upstairs. Home has smart features. No HOA, MUD, PID.

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,389
Property Tax -$665
Property Insurance -$210
Property Management Fees -$99
CASH FLOW
$137

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.

$399,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.63%

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$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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,841

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,800
$2,800
RENT COMPS ANALYSIS
  • 930 Mellanie Court Celina, TX 1
    • 6 beds 3 baths ∙ 3,157 Sqft ∙ Built 2003 6 beds 3 baths ∙ 3,157 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
  • 608 Arcadia Way Celina, TX 2
    • 5 beds 4 baths ∙ 3,112 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,112 Sqft ∙ Built 2015
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Gwen Snider
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496945
Last Updated: 01/09/2021
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