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2151 Lewis Canyon Drive Prosper, TX 75078

4 Beds 3 Baths 2,858 sqft Built 2014

$475,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $166.20
  • 3 Days on Market
  • MLS # : 14506593
  • Updated Date : 01/31/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,858 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Incredible curb appeal welcomes you to this 1-story custom home located on large quarter acre landscaped lot in Prosper’s prestigious La Cima neighborhood. Step inside to find comfortable, open and well-appointed living and entertaining spaces with 4 bedrooms, 3 full baths and an executive office or game room. Ideal floor plan features an open kitchen, dining and family room with cozy fireplace and lots of windows for natural light. Standout features include a showcase 4-car garage with epoxy flooring and shop lighting; oversized extended patio for outdoor living and dining with a hot tub featuring an electric privacy screen; fenced backyard for kids and pets to play safely and separate dog run.

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

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
R. Steve Folsom Elementary School Primary Regular 719 47 9
Prosper High School High Regular 1,868 120 9
Prosper High School High Unknown NA

R. Steve Folsom Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 47
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,650
Property Tax -$928
Property Insurance -$192
HOA -$50
Property Management Fees -$99
CASH FLOW
-$409

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.

$475,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.53%

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-$10k-$5.0k$0.0$5.0k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,4953$2,5004$2,5105$2,600
$2,600
RENT COMPS ANALYSIS
  • 2151 Lewis Canyon Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.88
    •  
  • 12004 Tobosa Circle Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.92
    •  
  • 1313 Solana Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.90
    •  
  • 1421 Cedar Lake Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 925 Avian Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Rach Potter
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506593
Last Updated: 01/31/2021
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