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3509 Alamosa River Drive Prosper, TX 75078

5 Beds 4 Baths 3,521 sqft Built 2019

$415,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $117.86
  • 5 Days on Market
  • MLS # : 14516772
  • Updated Date : 02/12/2021 at 08:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,521 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS, DEADLINE SAT FEB 13TH AT 5 PM!!! FABULOUS 5 BEDROOM HOME WITH STUDY & GAME ROOM IN HIGHLY SOUGHT AFTER PROSPER ISD! This home has a great layout & super energy efficient! You will love the LVP flooring thru the living areas downstairs, amazing lighting, gorgeous kitchen complete w gas cooktop, ss appliances, granite counters, single bowl sink w fancy faucet, stunning gray cabinets w black pulls, large gray subway tiles, filtered water at the sink & huge walk in pantry! Kitchen is open to the dining room & living area for great entertaining! Owners suite has plenty of room for sitting area, spa like bath & huge walk in closet! Upstairs is game rm w large closet for storage! Oversized bedrms!

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
Windsong Elementary School Primary Regular NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Windsong Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$1,441
Property Tax -$790
Property Insurance -$231
HOA -$65
Property Management Fees -$99
CASH FLOW
$593

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.

$415,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.78%

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$0.0$5.0k$10k$15k$20k$25k$30k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$73,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,169

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,0504$3,1005$3,220
$3,220
RENT COMPS ANALYSIS
  • 3509 Alamosa River Drive Prosper, TX 5
    • 5 beds 4 baths ∙ 3,521 Sqft ∙ Built 2019 5 beds 4 baths ∙ 3,521 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $0.91
    •  
  • 3020 Spring Creek Trail Celina, TX 1
    • 4 beds 4 baths ∙ 3,443 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,443 Sqft ∙ Built 2016
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.86
    •  
  • 2805 Driftwood Creek Trail Celina, TX 2
    • 5 beds 4 baths ∙ 3,280 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,280 Sqft ∙ Built 2017
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
  • 3725 Millstone Way Celina, TX 3
    • 4 beds 3 baths ∙ 3,235 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,235 Sqft ∙ Built 2013
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.94
    •  
  • 911 Sabine Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,464 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,464 Sqft ∙ Built 2017
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Vicki Appleby
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516772
Last Updated: 02/12/2021
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