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16325 Amistad Avenue Prosper, TX 75078

3 Beds 2 Baths 1,876 sqft Built 2018

$325,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $173.24
  • 1 Days on Market
  • MLS # : 14481996
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Absolutely pristine custom home in the Artesia subdivision of Prosper. Vacant and ready for quick occupancy. Beautiful hardwoods throughout the home, high ceilings, open floor plan with large island in kitchen, custom cabinets and split bedrooms. Spacious master suite with incredible bath. Double vanities, separate tub and shower, huge closet. Tankless water heater, sprinkler system and gutters. Oversized garage for the long pickup. Buyer will have approximately 8 years of structural warranty remaining. Will transfer to buyer at closing.

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

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,199
Property Tax -$775
Property Insurance -$136
HOA -$47
Property Management Fees -$99
CASH FLOW
-$465

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.

$325,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$23

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,965

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$2,0303$2,0954$2,1505$2,175
$2,175
RENT COMPS ANALYSIS
  • 16325 Amistad Avenue Prosper, TX 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.95
    •  
  • 16425 Amistad Avenue Prosper, TX 2
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2014
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.08
    •  
  • 16700 White Rock Boulevard Prosper, TX 3
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 16316 Stillhouse Hollow Court Prosper, TX 4
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2015
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
  • 2117 Austin Lane Prosper, TX 5
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.05
    •  
PROPERTY LISTING DETAILS
Bruce Umstead
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481996
Last Updated: 12/05/2020
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