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9829 Pronghorn Road Mckinney, TX 75071

4 Beds 4 Baths 2,623 sqft Built 2014

INVESTimate

$339,500

List Price

$2,330

$2,097 - $2,563

Rent Est.

$363,129  ( +6.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $129.43
  • 2 Days on Market
  • MLS # : 14420661
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,623 sqft
  • Baths : 3 full , 1 half
Listing Agent

G+a Real Estate

Listing Agent's Description

Highly sought after, hard to find 4 bdrm 3.5 bath shows like a model! Exemplary Prosper ISD. Chefs kitchen features granite counters, SS appliances, gas range, island & breakfast bar. Kitchen is open to the dining & living areas. Spacious living room has cast stone fireplace and overlooks the backyard. Wood floors throughout entry, living, dining and master. Master includes suite bath with dual vanities, granite counters, separate shower & tub, & walk in closet w wood flooring. BRAND NEW roof, gutters, french drain, & fresh interior paint. Wrought iron staircase takes you upstairs to the game room & 3 bedrooms. Backyard patio has a beautiful pergola, stoned landscaping, and a wood fence. Community pool nearby!

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

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Westridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262413

* 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
Lorene Rogers Middle School Primary Regular 1,184 72 9
Lorene Rogers Middle School Middle Regular 1,184 72 9
Prosper High School High Regular 1,868 120 9

Lorene Rogers Middle School

  • Education Level: Primary
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

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

$305,550$373,450$339,500

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,253
Property Tax -$639
Property Insurance -$179
HOA -$25
Property Management Fees -$99
CASH FLOW
$135

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.

$339,500

PROJECTED PRICE

$2,330

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,718

INVESTMENT

$95,718

Down Payment
$84,875
Rehab Estimate
$5,750
Closing Costs
$5,093

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,253

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,875
Loan Amount $254,625
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$31,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,400

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,198
1$2,1982$2,2953$2,3004$2,3005$2,330
$2,330
RENT COMPS ANALYSIS
  • 9829 Pronghorn Road Mckinney, TX 5
    • 4 beds 4 baths ∙ 2,623 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,623 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.89
    •  
  • 405 Hideaway Drive Mckinney, TX 1
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2013
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,198
    • $0.87
    •  
  • 10124 Sailboard Drive Mckinney, TX 2
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2012
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.93
    •  
  • 10024 Long Branch Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2017
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 10128 Horseshoe Lane Mckinney, TX 4
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2013
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Christina Sanchez
G+a Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420661
Last Updated: 08/25/2020
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