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1617 Tahoe Trail Prosper, TX 75078

3 Beds 2 Baths 2,063 sqft Built 2016

$335,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $162.38
  • 7 Days on Market
  • MLS # : 14489797
  • Updated Date : 12/28/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,063 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2016, this Prosper one-story cul-de-sac home offers granite countertops, a fireplace, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,236
Property Tax -$799
Property Insurance -$146
HOA -$55
Property Management Fees -$99
CASH FLOW
-$295

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.

$335,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,1003$2,1504$2,1985$2,250
$2,250
RENT COMPS ANALYSIS
  • 1617 Tahoe Trail Prosper, TX 1
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.99
    •  
  • 16312 Stillhouse Hollow Court Prosper, TX 2
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2015
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 16316 Stillhouse Hollow Court Prosper, TX 3
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2015
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
  • 16324 Toledo Bend Court Prosper, TX 4
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2013
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,198
    • $1.00
    •  
  • 1633 Tahoe Trail Prosper, TX 5
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2012
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489797
Last Updated: 12/28/2020
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