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750 Devonshire Drive Prosper, TX 75078

4 Beds 4 Baths 3,935 sqft Built 2014

$565,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $143.58
  • 2 Days on Market
  • MLS # : 14463042
  • Updated Date : 11/07/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,935 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

Gorgeous Village at Prosper Trail 2 story home, 4 beds, 3.1 baths plus study on a corner lot and offers a buyer looking for a well maintained & move in ready home. This elegant kitchen has an island, breakfast bar, pendant lighting, granite countertops & SS appliances. Grand master suite equipped with coffered ceilings, dual sinks, garden tub, separate shower and large walk-in closet. This homes comes with lots of extras with a formal dining, gameroom, media room and card table room. This home has so much to offer! Upgrades include cabinets in utility room, upgraded lighting, wood floors, covered patio, pool size yard and 3 car garage. This home is in the exceptional Prosper ISD and has no MUD or PID.

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
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
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,085
Property Tax -$1,104
Property Insurance -$255
HOA -$57
Property Management Fees -$99
CASH FLOW
-$649

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.

$565,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.52%

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-$15k-$10k-$5.0k$0.0$5.0k

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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,246

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1503$3,1504$3,1955$3,250
$3,250
RENT COMPS ANALYSIS
  • 750 Devonshire Drive Prosper, TX 1
    • 4 beds 4 baths ∙ 3,935 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,935 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.75
    •  
  • 361 Berkshire Court Prosper, TX 2
    • 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.82
    •  
  • 231 Lake Trail Lane Prosper, TX 3
    • 5 beds 4 baths ∙ 3,928 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,928 Sqft ∙ Built 2017
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.80
    •  
  • 491 Evening Sun Drive Prosper, TX 4
    • 4 beds 5 baths ∙ 3,800 Sqft ∙ Built 2016 4 beds 5 baths ∙ 3,800 Sqft ∙ Built 2016
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.84
    •  
  • 930 Sagebrush Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2013
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tina Horton
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463042
Last Updated: 11/07/2020
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