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16621 Toledo Bend Court Prosper, TX 75078

3 Beds 2 Baths 1,874 sqft Built 2014

$349,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $186.71
  • 3 Days on Market
  • MLS # : 14500319
  • Updated Date : 02/06/2021 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Castle Heights Real Estate

Listing Agent's Description

Beautiful home in the amazing Artesia community. Home features 3 bedrooms, 2 bathrooms, large living and dining, wood floors. Owner's suite features large bath with dual sinks, separate shower, and spacious walk in closet. Open kitchen with walk-in pantry, granite, breakfast bar. HOA includes a community clubhouse, fitness center and community pool. Excellent location, close to parks, schools, & shops and PGA headquarters!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,215
Property Tax -$834
Property Insurance -$136
HOA -$43
Property Management Fees -$99
CASH FLOW
-$357

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.

$349,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.56%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,963

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,0303$2,0954$2,1505$2,175
$2,175
RENT COMPS ANALYSIS
  • 16621 Toledo Bend Court Prosper, TX 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.05
    •  
  • 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
    •  
  • 2105 Washington Park Way Prosper, TX 5
    • 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,063 Sqft ∙ Built 2017
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ricardo S. Ibarra
Castle Heights Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500319
Last Updated: 02/06/2021
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