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290 Dave Trail Prosper, TX 75078

4 Beds 3 Baths 2,831 sqft Built 2005

$372,500

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $131.58
  • 5 Days on Market
  • MLS # : 14478790
  • Updated Date : 12/02/2020 at 18:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,831 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

This Home Would Make a Wonderful Gift for Your Family! This home features a Beautiful exterior with stone accents, a gorgeous entry with a sweeping staircase. Four bedrooms and 2.5 baths. The open floor plan is perfect for your family, the kitchen includes a gas cooktop and granite countertops, and the butler pantry is open to the family room with a cast stone fireplace. The large first-floor master suite features a jetted garden tub, separate shower and dual sinks. The second-floor features three bedrooms and a game room. The large backyard is perfect for playtime.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$335,250$409,750$372,500

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,374
Property Tax -$728
Property Insurance -$191
HOA -$42
Property Management Fees -$99
CASH FLOW
$166

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.

$372,500

PROJECTED PRICE

$2,600

PROJECTED RENT

0.70%

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$0.0$5.0k$10k$15k

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$104,463

INVESTMENT

$104,463

Down Payment
$93,125
Rehab Estimate
$5,750
Closing Costs
$5,588

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,374

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,125
Loan Amount $279,375
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$36,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,824

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$2,9504$2,9955$3,100
$3,100
RENT COMPS ANALYSIS
  • 290 Dave Trail Prosper, TX 1
    • 4 beds 5 baths ∙ 2,831 Sqft ∙ Built 2005 4 beds 5 baths ∙ 2,831 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
  • 417 Barnstorm Drive Celina, TX 2
    • 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2015
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
  • 631 Table Rock Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 3,177 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,177 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.93
    •  
  • 600 Hampshire Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.06
    •  
  • 951 Rustic Lane Prosper, TX 5
    • 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
John Digiovanni
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 #: 14478790
Last Updated: 12/02/2020
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