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1650 Star Creek Drive Prosper, TX 75078

4 Beds 3 Baths 2,255 sqft Built 2018

$439,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $195.08
  • 6 Days on Market
  • MLS # : 14459758
  • Updated Date : 11/05/2020 at 12:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,255 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

STUNNING Highland home with over 50k in upgrades located in desirable Star Trail! This barely lived in SMART HOME can be controlled from your phone & shows like a model w wood flrs, shutters, designer paint & lighting, frameless showers & flawless finishes! Fantastic flr plan w walk-in closets, 2 dining areas, ENTERTAINMENT RM or STUDY. Fall in love w-the bright white kitchen w large island, quartz, farm sink, custom hood, gas cktop, & dbl ovens. Family & dining RM w built-in hutch & wine fridge seamlessly flow for perfect entertaining. Dreamy suite w spa bath, rain shower,& dual vanities. Cvrd patio & yard for pets+play. Neighborhood incl clubhouse, pools, tennis, parks, hike-bike paths &events. No MUD or PID!

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

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,623
Property Tax -$859
Property Insurance -$158
HOA -$100
Property Management Fees -$99
CASH FLOW
-$639

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.

$439,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.50%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$33

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,272

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2003$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1650 Star Creek Drive Prosper, TX 5
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 15924 Placid Trail Prosper, TX 1
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2018
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.01
    •  
  • 16717 Stillhouse Hollow Court Prosper, TX 2
    • 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,138 Sqft ∙ Built 2016
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 16705 Millenium Park Place Prosper, TX 3
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2017
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 1804 Woodlawn Trail Prosper, TX 4
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2014
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Erin West
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459758
Last Updated: 11/05/2020
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