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16404 Dry Creek Boulevard Prosper, TX 75078

4 Beds 4 Baths 2,847 sqft Built 2006

$379,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.12
  • 3 Days on Market
  • MLS # : 14521325
  • Updated Date : 02/26/2021 at 15:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,847 sqft
  • Baths : 2 full , 2 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful 2 story home! Stunning curb appeal with front porch & stone accents. Wood-look floors adorn the entry, halls, kitchen, & nook. Soaring Ceiling in entry with wrought iron stairs. Gourmet kitchen with quartz island, white cabs, & open to family room. Master suite is perfect for king-size furniture. Master bath updated dual sinks, framed mirrors, shiplap, separate shower, & garden soaking tub. Backyard is perfect for outdoor living & entertaining. This home is a MUST SEE!

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
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
 

$341,100$416,900$379,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,316
Property Tax -$903
Property Insurance -$192
HOA -$56
Property Management Fees -$99
CASH FLOW
-$266

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.

$379,000

PROJECTED PRICE

$2,300

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,456

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,2953$2,3004$2,4955$2,650
$2,650
RENT COMPS ANALYSIS
  • 16404 Dry Creek Boulevard Prosper, TX 3
    • 4 beds 4 baths ∙ 2,847 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,847 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 16417 Stillhouse Hollow Court Prosper, TX 1
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 1728 Medina Lane Prosper, TX 2
    • 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
    •  
  • 16412 Amistad Avenue Prosper, TX 4
    • 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2020
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.87
    •  
  • 16308 Toledo Bend Court Prosper, TX 5
    • 4 beds 4 baths ∙ 3,002 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,002 Sqft ∙ Built 2013
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521325
Last Updated: 02/26/2021
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