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1130 Amistad Prosper, TX 75078

5 Beds 3 Baths 2,993 sqft Built 2006

INVESTimate

$425,000

List Price

$2,490

$2,241 - $2,739

Rent Est.

$446,463  ( +5.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $142.00
  • 6 Days on Market
  • MLS # : 14417071
  • Updated Date : 08/22/2020 at 15:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,993 sqft
  • Baths : 2 full , 1 half
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

This house has it all! This gorgeous 5 bedroom has all the room you need plus a HUGE backyard. Soaring two story foyer opens to large family room. New ceiling fans, new kitchen sink, new disposal, new hot water heater in 2019. Open kitchen with large island, eat in breakfast nook. Grounded appliance plugs added to garage for freezer, yard treated quarterly for pests and mosquitoes, Easy to show!

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: 75078

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75078

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263004

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,568
Property Tax -$830
Property Insurance -$200
HOA -$50
Property Management Fees -$99
CASH FLOW
-$258

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.

$425,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,454

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4903$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 1130 Amistad Prosper, TX 2
    • 5 beds 3 baths ∙ 2,993 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,993 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.83
    •  
  • 1121 Pennybaker Mckinney, TX 1
    • 4 beds 4 baths ∙ 3,008 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,008 Sqft ∙ Built 2014
    LEASED 03/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 1421 Cedar Lake Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 925 Avian Drive Mckinney, TX 4
    • 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 1460 Cedar Hollow Drive Prosper, TX 5
    • 4 beds 3 baths ∙ 3,266 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,266 Sqft ∙ Built 2012
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Eve Henry
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417071
Last Updated: 08/22/2020
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