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740 Table Rock Drive Prosper, TX 75078

4 Beds 3 Baths 3,606 sqft Built 2003

$575,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $159.46
  • 6 Days on Market
  • MLS # : 14493073
  • Updated Date : 01/12/2021 at 17:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,606 sqft
  • Baths : 2 full , 1 half
Listing Agent

Corey Simpson & Associates

Listing Agent's Description

Updated home on almost third acre lot in sought after PISD. Beautiful quarter sawn white oak SOLID wood floors greet you as you enter and extend though downstairs area. Kitchen boasts quartz ctops, custom cabinets, ss appliances and stone and glass backsplash. Floor to ceiling stone on fireplace. Remodeled master bath with custom cabinets made from clear alder wood,quartz ctops,freestanding tub,and frameless shower with built in fog free mirror. Custom master closet professionally designed. Flex room could be used for a second bedroom downstairs. Plantation shutters throughout. Heated pool with spa and landscaped yard complete this home. Come relax on huge covered patio overlooking goldfish pond. No PID or MUD.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,997
Property Tax -$1,123
Property Insurance -$236
HOA -$54
Property Management Fees -$99
CASH FLOW
-$859

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.

$575,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.46%

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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$10

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,768

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,6504$2,7755$3,495
$3,495
RENT COMPS ANALYSIS
  • 740 Table Rock Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 3,606 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,606 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.73
    •  
  • 831 Bridgeport Lane Prosper, TX 1
    • 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,682 Sqft ∙ Built 2004
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.68
    •  
  • 851 Willowgate Drive Prosper, TX 2
    • 4 beds 4 baths ∙ 3,788 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,788 Sqft ∙ Built 2001
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.66
    •  
  • 160 Dave Trail Prosper, TX 4
    • 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2010
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.84
    •  
  • 1310 Packsaddle Trail Prosper, TX 5
    • 4 beds 4 baths ∙ 3,917 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,917 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Belinda Younglove
Corey Simpson & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493073
Last Updated: 01/12/2021
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