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900 Tumbleweed Drive Prosper, TX 75078

4 Beds 3 Baths 3,199 sqft Built 2012

$575,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $179.74
  • 4 Days on Market
  • MLS # : 14531174
  • Updated Date : 03/25/2021 at 14:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,199 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

This 4bed,3bath,3 car is a SHOW STOPPER! Crown Molding & Extensive Hardwoods welcome you in the entry, formal, study & family room! Floor to ceiling stone fireplace. Downstairs guest room w'full bath. Kitchen boasts Dbl Ovens, Gas Cooktop, Large Island & HUGE Pantry! BRIGHT & BEAUTIFUL Master Bath is the perfect retreat. Upstairs flex space can be used as game room, playroom, etc. Media Rm features built in speakers, custom painting & light fixtures. Large Covered Patio w'heaters & speakers lead to the BACKYARD OASIS! Gorgeous pool with slide, water features, beach entry, large tanning ledge, & gas firepit! Epoxy flrs & speakers in the garage. Hike & bike trails connect to Frontier Park & Windmill Playground!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Boyer Elementary School Primary Unknown NA
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Boyer Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$1,997
Property Tax -$1,123
Property Insurance -$212
HOA -$65
Property Management Fees -$99
CASH FLOW
-$457

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

$3,040

PROJECTED RENT

0.53%

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

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 70% 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

1

YEARS SAVED

$2,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,063

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0403$3,1004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 900 Tumbleweed Drive Prosper, TX 2
    • 4 beds 3 baths ∙ 3,199 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,199 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.95
    •  
  • 1425 Bridgewater Boulevard Celina, TX 1
    • 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
  • 951 Rustic Lane Prosper, TX 3
    • 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.98
    •  
  • 621 Gray Lane Prosper, TX 4
    • 4 beds 4 baths ∙ 3,308 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,308 Sqft ∙ Built 2011
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 4138 Maclin Drive Celina, TX 5
    • 4 beds 4 baths ∙ 3,461 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,461 Sqft ∙ Built 2016
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tammy Watson
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531174
Last Updated: 03/25/2021
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