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931 Twin Buttes Drive Prosper, TX 75078

4 Beds 3 Baths 2,793 sqft Built 2009

$399,900

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $143.18
  • 3 Days on Market
  • MLS # : 14529541
  • Updated Date : 03/20/2021 at 17:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,793 sqft
  • Baths : 2 full , 1 half
Listing Agent

Town Center Real Estate

Listing Agent's Description

Beautiful home nestled in sought after Lakes of La Cima! *1 story, wood floors, 3 car garage* Walk into an open foyer with a double door study and a dining room that leads you to the kitchen. Stainless steel appliances with gas cooktop. Open breakfast and living room. Large bedroom with sitting area and en suite bathroom. 3 secondary bedrooms, full and half bath off foyer. Enjoy evenings on your patio with NO neighbors behind you! Walking distance to Elementary and Middle schools. 2 community pools, ponds and parks. New fence in 2018 and roof in 2017.

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
Prosper High School High Regular 1,868 120 9
Prosper High School High Unknown NA

R. Steve Folsom Elementary School

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

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,389
Property Tax -$781
Property Insurance -$189
HOA -$39
Property Management Fees -$99
CASH FLOW
-$57

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.

$399,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,562

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,465

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,4903$2,4954$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 931 Twin Buttes Drive Prosper, TX 1
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.87
    •  
  • 12004 Tobosa Circle Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.92
    •  
  • 1313 Solana Drive Mckinney, TX 3
    • 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.90
    •  
  • 1421 Cedar Lake Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2006
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 925 Avian Drive Mckinney, TX 5
    • 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2016
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kimberly Reames
Town Center Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529541
Last Updated: 03/20/2021
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