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560 Darian Drive Prosper, TX 75078

4 Beds 3 Baths 2,530 sqft Built 2016

$430,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $169.96
  • 2 Days on Market
  • MLS # : 14473349
  • Updated Date : 11/20/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,530 sqft
  • Baths : 3 full
Listing Agent

Iconic Real Estate, Llc

Listing Agent's Description

Perfectly perched in Prosper Texas, this home bolds 4 beds, 3 baths, 1.5 stories, 3 car garage in Wildwood Estates community on a north facing lot. This home features a one bed and bath upstairs, beautiful curb appeal with brick and stone elevation, covered front porch, generous hard wood floors, granite counter tops in kitchen, and gas cooktop in center island. This is the perfect opportunity for a first time home buyer. This home is well kept, has an amazing flow and exudes the perfect amount of cozy. Schedule your appointment and let the home do the rest of the talking. Welcome Home!

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
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,587
Property Tax -$840
Property Insurance -$173
HOA -$75
Property Management Fees -$99
CASH FLOW
-$384

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.

$430,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.56%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,593

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3903$2,7504$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 560 Darian Drive Prosper, TX 2
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.94
    •  
  • 412 Smokebrush Street Celina, TX 1
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2016
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 913 Allbright Road Celina, TX 3
    • 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2016
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.02
    •  
  • 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
    •  
  • 417 Barnstorm Drive Celina, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Beaux Olaiya
Iconic Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473349
Last Updated: 11/20/2020
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