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16016 Placid Trail Prosper, TX 75078

3 Beds 2 Baths 1,874 sqft Built 2018

$359,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $192.05
  • 1 Days on Market
  • MLS # : 14481932
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Allen-fairview-

Listing Agent's Description

Your neighbors will be jealous when they see your beautiful new home with an amazing covered patio with outdoor living and kitchen. Patio also equipped with roll shades that block out the setting sun and provides desired privacy. Enter home to wood looking tile flooring that extends throughout the home except bedrooms. Smart home features. Care and maintenance is evident and move-in ready. Don't miss this opportunity to own this special piece of the pie!

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
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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,328
Property Tax -$858
Property Insurance -$136
HOA -$55
Property Management Fees -$99
CASH FLOW
-$616

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.

$359,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9003$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 16016 Placid Trail Prosper, TX 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.99
    •  
  • 1325 Palestine Drive Prosper, TX 2
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2014
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 16011 Crosslake Court Prosper, TX 3
    • 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2014
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
  • 15909 Crosslake Court Prosper, TX 4
    • 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2014
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
  • 15937 Placid Trail Prosper, TX 5
    • 3 beds 3 baths ∙ 2,063 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,063 Sqft ∙ Built 2017
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Danna Smith
Ebby Halliday, Allen-fairview-
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481932
Last Updated: 12/05/2020
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