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911 Waterview Drive Prosper, TX 75078

3 Beds 2 Baths 1,800 sqft Built 2021

$377,500

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $209.72
  • 6 Days on Market
  • MLS # : 14476916
  • Updated Date : 11/24/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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
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
 

$339,750$415,250$377,500

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,393
Property Tax -$738
Property Insurance -$131
HOA -$63
Property Management Fees -$99
CASH FLOW
-$663

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$377,500

PROJECTED PRICE

$1,760

PROJECTED RENT

0.47%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,038

INVESTMENT

$102,038

Down Payment
$94,375
Rehab Estimate
$2,000
Closing Costs
$5,663

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,393

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,375
Loan Amount $283,125
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$2,1753$2,2004$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 911 Waterview Drive Prosper, TX 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.98
    •  
  • 15924 Placid Trail Prosper, TX 2
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2018
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.01
    •  
  • 4322 Cibolo Creek Celina, TX 3
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2019
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 525 Barnstorm Drive Celina, TX 4
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2016
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
  • 4224 Cibolo Creek Trail Celina, TX 5
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476916
Last Updated: 11/24/2020
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