Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1341 Monticello Drive Prosper, TX 75078

4 Beds 3 Baths 3,595 sqft Built 2005

$530,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $147.43
  • 7 Days on Market
  • MLS # : 14478630
  • Updated Date : 12/04/2020 at 09:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,595 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

December 4. Received multiple offers. Please submit Best and Final, due by December 7, 10AM Excellent split 4-bedroom single story home design. This home features a private study that opens to tiled foyer and features beautiful detailed multistep crown moldings. The spacious kitchen has a large center island, double ovens, and gas cooktop. The living room is highlighted by built-in book shelves and fireplace with elaborate wood mantel with views of beautiful pool and raised spa. Media room is wired for surround sound. Home has a electronic driveway gate that leads to 3 car garage and additional RV or boat parking area. Huge covered patio overlooks huge pool and decorative raised family sized spa.

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

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
 

$477,000$583,000$530,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$1,955
Property Tax -$1,035
Property Insurance -$235
HOA -$42
Property Management Fees -$99
CASH FLOW
-$296

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.

$530,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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-$10k-$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$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,128

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8503$3,0704$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1341 Monticello Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 3,595 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,595 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.85
    •  
  • 1460 Cedar Hollow Drive Prosper, TX 1
    • 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
    •  
  • 2600 Cedarbrook Lane Prosper, TX 2
    • 3 beds 3 baths ∙ 3,456 Sqft ∙ Built 2007 3 beds 3 baths ∙ 3,456 Sqft ∙ Built 2007
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.82
    •  
  • 1410 Cedar Lake Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.93
    •  
  • 108 N Craig Road Prosper, TX 5
    • 4 beds 4 baths ∙ 3,799 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,799 Sqft ∙ Built 1991
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Martha Robertson
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478630
Last Updated: 12/04/2020
BESbswy