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2571 Cedarbrook Lane Prosper, TX 75078

5 Beds 4 Baths 4,045 sqft Built 2012

$610,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $150.80
  • 4 Days on Market
  • MLS # : 14502099
  • Updated Date : 01/21/2021 at 20:39
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,045 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

You will love coming home to this imressive residence gently nestled on a quarter of an acre of land with heated pool, spa, outdoor kitchen and plenty of grassy area for kids & pets to enjoy. Spectacular curb appeal w a split 3c garage & brick w stone elevation. Once you step inside, you are welcomed by expansive and flooded with natural light open concept layout with well-appointed elegant spaces that effortlessly flow into one another creating the ultimate setting for family living and entertaining. Magnificent chef & entertainer's delight kitchen w gorgeous cabinetry, gas cooktop & large island that opens into living and dining areas w walls of windows revealing stunning views of your private outdoor oasis.

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

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
Cynthia A. Cockrell Elementary School Primary Regular 778 54 10
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Cynthia A. Cockrell Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 54
10
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
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$2,119
Property Tax -$1,192
Property Insurance -$261
HOA -$42
Property Management Fees -$99
CASH FLOW
-$382

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.

$610,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.55%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,469

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,330
1$3,3302$3,3503$3,5004$3,7005$3,750
$3,750
RENT COMPS ANALYSIS
  • 2571 Cedarbrook Lane Prosper, TX 1
    • 5 beds 4 baths ∙ 4,045 Sqft ∙ Built 2012 5 beds 4 baths ∙ 4,045 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $0.82
    •  
  • 1640 Greenwood Court Prosper, TX 2
    • 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.82
    •  
  • 2210 Nocona Drive Prosper, TX 3
    • 5 beds 4 baths ∙ 4,299 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,299 Sqft ∙ Built 2010
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.81
    •  
  • 801 Martin Creek Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 4,145 Sqft ∙ Built 2011 4 beds 4 baths ∙ 4,145 Sqft ∙ Built 2011
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.89
    •  
  • 2201 Lewis Canyon Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 4,139 Sqft ∙ Built 2014 4 beds 4 baths ∙ 4,139 Sqft ∙ Built 2014
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Anastasia Riley
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502099
Last Updated: 01/21/2021
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