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400 Darian Drive Prosper, TX 75078

4 Beds 3 Baths 2,573 sqft Built 2013

$400,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $155.46
  • 3 Days on Market
  • MLS # : 14520030
  • Updated Date : 02/27/2021 at 14:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,573 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Beautiful 1 story home with 4 bedrooms and an office on large lot in the heart of Prosper. Shows like a model home! Open floorplan with tons of natural light. Hardwood floors, trey ceilings, crown molding, stone corner fireplace & recently updated kitchen. Large bedrooms w a private master. Dedicated office or flex room to make what you want. Epoxy floors & workbench in garage. AC unit is 20 SEER for low elec bills. Highly sought after PISD schools. Conveniently located between North Dallas Tollway & Preston RD, minutes from Frisco. Home is turn key and ready for it's new owners!

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

Boyer 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,389
Property Tax -$782
Property Insurance -$176
HOA -$82
Property Management Fees -$99
CASH FLOW
-$77

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.

$400,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.61%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,605

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4503$2,7004$2,7505$2,995
$2,995
RENT COMPS ANALYSIS
  • 400 Darian Drive Prosper, TX 2
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.95
    •  
  • 280 Gorgeous Road Prosper, TX 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2016
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 940 Sabine Drive Prosper, TX 3
    • 3 beds 3 baths ∙ 2,572 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,572 Sqft ∙ Built 2018
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.05
    •  
  • 341 Darian Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2017
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.06
    •  
  • 600 Hampshire Drive Prosper, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Rebecca Lee
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520030
Last Updated: 02/27/2021
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