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851 Moss Glen Drive Prosper, TX 75078

4 Beds 4 Baths 3,593 sqft Built 2014

$600,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $166.99
  • 3 Days on Market
  • MLS # : 14511669
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,593 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

This Elegant Highland Home offers unparalleled craftsmanship and exceptional amenities! The attention to detail and design is truly remarkable inside and out. The light, bright, and open floor plan features 4 bedrooms,3.5 baths, a huge family room, study, and media room all on one floor. Amenities include extensive hand-scraped wood floors, vaulted ceilings, wood beams, plantation shutters, and an extended outdoor living with fireplace. The gourmet kitchen is features upgraded and extended cabinets, stainless appliances with double ovens, and a farm sink. The oversized laundry room has room for an extra refrigerator, folding area, and is plumbed for a sink. The home sits on an oversized West Facing lot.

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
R. Steve Folsom Elementary School Primary Regular 719 47 9
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

R. Steve Folsom Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 47
9
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
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,084
Property Tax -$1,172
Property Insurance -$235
HOA -$59
Property Management Fees -$99
CASH FLOW
-$529

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.

$600,000

PROJECTED PRICE

$3,120

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,117

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7753$3,1204$3,2005$3,495
$3,495
RENT COMPS ANALYSIS
  • 851 Moss Glen Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 3,593 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,593 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $0.87
    •  
  • 1460 Cedar Hollow Drive Prosper, TX 1
    • 4 beds 3 baths ∙ 3,266 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,266 Sqft ∙ Built 2012
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.81
    •  
  • 160 Dave Trail Prosper, TX 2
    • 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
    •  
  • 1410 Cedar Lake Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.93
    •  
  • 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
Nikki Butcher
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511669
Last Updated: 02/06/2021
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