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281 Dragonfly Drive Prosper, TX 75078

4 Beds 3 Baths 2,312 sqft Built 2016

$388,888

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $168.20
  • 4 Days on Market
  • MLS # : 14529798
  • Updated Date : 03/11/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,312 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Welcome home! This open concept home was built in 2016, located in the highly sought after downtown Prosper. Inviting craftsman style front porch, spacious kitchen with ample cabinet space, eat-in kitchen plus formal dining-flex space, four bedrooms with a split floor plan. You will enjoy entertaining in the covered backyard sitting area with a good sized yard. Easy access to DNT, 75 and just north of 380. Conveniently located near restaurants, shopping and more. Exemplary Prosper ISD schools - walking distance to middle school. No MUD or PID!

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
Judy Rucker Elementary School Primary Regular 781 47 8
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Judy Rucker Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 47
8
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
 

$349,999$427,777$388,888

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,351
Property Tax -$760
Property Insurance -$161
HOA -$45
Property Management Fees -$99
CASH FLOW
-$85

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.

$388,888

PROJECTED PRICE

$2,330

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,805

INVESTMENT

$108,805

Down Payment
$97,222
Rehab Estimate
$5,750
Closing Costs
$5,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,222
Loan Amount $291,666
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,480

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2953$2,3304$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 281 Dragonfly Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.01
    •  
  • 260 Gorgeous Road Prosper, TX 1
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2016
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
  • 3508 Chacon Creek Trl Prosper, TX 2
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2019
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.10
    •  
  • 341 Darian Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2017
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.06
    •  
  • 1601 Middleton Lane Prosper, TX 5
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2018
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
David Dickerson
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529798
Last Updated: 03/11/2021
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