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15701 Piedmont Park Drive Prosper, TX 75078

4 Beds 3 Baths 2,784 sqft Built 2016

$415,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $149.07
  • 2 Days on Market
  • MLS # : 14471112
  • Updated Date : 11/14/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,784 sqft
  • Baths : 3 full
Listing Agent

Joe Atkins Realty

Listing Agent's Description

Stunning 2016 two-story English-Traditional by American Legend Homes. This move-in ready home has been meticulously maintained and boasts gorgeous hand-scraped hardwood flooring, granite C-tops, an open floor plan, SS appliances, and a generous master bedroom suite. You'll notice the elegance of herringbone tile features throughout this humble hideaway. Upgraded lighting fixtures emit a warm glow at night by adjustable dimmer lights. This Prosper gem is truly warm and relaxing. Outside the home, you will love the community of Artesia as it features your choice of pools, parks, weight rooms and playgrounds. Artesia is a fresh water supply district of Denton County.

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: Artesia

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Neighborhood: Artesia

NeighborhoodNIR 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
Windsong Elementary School Primary Regular NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Windsong 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,531
Property Tax -$989
Property Insurance -$188
HOA -$55
Property Management Fees -$99
CASH FLOW
-$443

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.

$415,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,429

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,4204$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 15701 Piedmont Park Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.87
    •  
  • 1728 Medina Lane Prosper, TX 1
    • 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 1709 Medina Lane Prosper, TX 2
    • 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 15621 Governors Island Way Prosper, TX 4
    • 4 beds 4 baths ∙ 2,957 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,957 Sqft ∙ Built 2016
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
  • 16017 Gladewater Terrace Prosper, TX 5
    • 3 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,905 Sqft ∙ Built 2018
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tommy Wooten
Joe Atkins Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471112
Last Updated: 11/14/2020
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