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16013 High Line Drive Prosper, TX 75078

3 Beds 3 Baths 2,248 sqft Built 2016

$425,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $189.06
  • 4 Days on Market
  • MLS # : 14510375
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

IMMACULATE 1-story Highland home in Prosper ISD with resort style backyard. Wood floor entry & beautiful office with glass doors. Family room with stone, gas fireplace opens to kitchen, dining & bonus space with built-in bar area. Kitchen has large island, ss appliances, pantry & glass front cabinets. Enjoy spacious media room. Master suite has spa-like bath with tub & separate shower, dual vanities & walk in closet. 2 additional bedrooms with wood floors. Backyard is gorgeous featuring pool with water feature, spa & covered & uncovered patio space including around firepit. 2 car garage with epoxy flooring & cedar doors. SO MANY UPGRADES-shutters, shiplap, designer lighting & paint, hardware & more! A Must See!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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

Stuber Elementary

  • 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
 

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

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,476
Property Tax -$1,013
Property Insurance -$157
HOA -$55
Property Management Fees -$99
CASH FLOW
-$591

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

$2,210

PROJECTED RENT

0.52%

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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$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 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1503$2,2104$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 16013 High Line Drive Prosper, TX 3
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.98
    •  
  • 15905 Alvarado Drive Prosper, TX 1
    • 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2008
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 16044 Crosslake Court Prosper, TX 2
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2007
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 16037 Crosslake Court Prosper, TX 4
    • 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2014
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 16121 Crosslake Court Prosper, TX 5
    • 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,418 Sqft ∙ Built 2014
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
PROPERTY LISTING DETAILS
Wayne Bartley
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510375
Last Updated: 02/06/2021
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