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691 Sibyl Lane Prosper, TX 75078

4 Beds 4 Baths 3,815 sqft Built 2016

$630,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $165.14
  • 4 Days on Market
  • MLS # : 14466637
  • Updated Date : 11/12/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,815 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vivo Realty

Listing Agent's Description

Enjoy living life in this FULLY FURNISHED luxurious retreat offering a gated community and private backyard oasis. Enter this gorgeous home and be welcomed by a private study and hand scraped hardwood floors. Great for entertaining with an open floor plan and large windows that offers views of the breathtaking backyard with a pool, spa, built in bar, and turf. The beautiful kitchen has SS appliances, large island, granite countertops, and walk in pantry. The master suite includes coffered ceilings, wood floors, and separate shower and jetted tub with a spacious closet. Downstairs has 2 additional bedrooms. Upstairs has a game room, separate media, 4th bedroom and bath. Over 30k in recent updates made.

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
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
 

$567,000$693,000$630,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,324
Property Tax -$1,231
Property Insurance -$248
HOA -$46
Property Management Fees -$99
CASH FLOW
-$928

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.

$630,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.48%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$39

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $3,042

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$3,0203$3,1504$3,1505$3,495
$3,495
RENT COMPS ANALYSIS
  • 691 Sibyl Lane Prosper, TX 2
    • 4 beds 4 baths ∙ 3,815 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,815 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $0.79
    •  
  • 831 Bridgeport Lane Prosper, TX 1
    • 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.68
    •  
  • 361 Berkshire Court Prosper, TX 3
    • 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.82
    •  
  • 231 Lake Trail Lane Prosper, TX 4
    • 5 beds 4 baths ∙ 3,928 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,928 Sqft ∙ Built 2017
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.80
    •  
  • 1310 Packsaddle Trail Prosper, TX 5
    • 4 beds 4 baths ∙ 3,917 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,917 Sqft ∙ Built 2014
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Heather Stevens
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466637
Last Updated: 11/12/2020
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