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2301 Arbol Way Prosper, TX 75078

5 Beds 5 Baths 3,758 sqft Built 2016

$500,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $133.05
  • 2 Days on Market
  • MLS # : 14467591
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,758 sqft
  • Baths : 5 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Beautiful Bloomfield built home in Lakes of La Cima!! Desirable Magnolia floor plan! 3 CAR GARAGE with epoxy floors! Great location in desirable Prosper ISD! Perfect for you & your family! Spacious floor plan includes 5 bedrooms, 5 FULL baths, including 2 master suites, game room, formal dining and study with large closet...could be 6th bedroom! Gourmet deluxe kitchen w built in SS appliances, Carrera Quartz, upgraded cabinets, back splash & walk in pantry! Hand-scraped hardwood floors throughout main areas, bay windows and cozy wood burning fireplace. Huge upstairs 2nd master suite features balcony and full bathroom with walk in shower! Oversize lot with secluded backyard and privacy fence!

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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$1,845
Property Tax -$977
Property Insurance -$244
HOA -$50
Property Management Fees -$99
CASH FLOW
$205

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.

$500,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.68%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$47,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,392

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3503$3,4004$3,4205$3,750
$3,750
RENT COMPS ANALYSIS
  • 2301 Arbol Way Prosper, TX 4
    • 5 beds 5 baths ∙ 3,758 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,758 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $0.91
    •  
  • 1410 Cedar Lake Drive Prosper, TX 1
    • 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.93
    •  
  • 1640 Greenwood Court Prosper, TX 2
    • 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.82
    •  
  • 11924 Presario Road Mckinney, TX 3
    • 6 beds 4 baths ∙ 3,882 Sqft ∙ Built 2013 6 beds 4 baths ∙ 3,882 Sqft ∙ Built 2013
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.88
    •  
  • 1710 Cross Timbers Drive Prosper, TX 5
    • 5 beds 4 baths ∙ 3,836 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,836 Sqft ∙ Built 2013
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
John Bertrand
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467591
Last Updated: 11/07/2020
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