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PROPERTY INFO
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
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75078
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$138,250
LOAN DETAILS
$1,845
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $125,000 |
| Loan Amount | $375,000 |
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
-
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
Keller Williams No. Collin Cty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14467591
Last Updated: 11/07/2020
