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$390,000

509 E 1st Street, Prosper, TX, 75078

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,336 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$291.92 / sqft
Year BuiltBuilt in 1982

Property Lead Type:

Absentee OwnerHigh EquityCash BuyersMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 1.5Bathrooms Full 1.5
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal
FlooringLaminate

Exterior

Lot Size10,454 sqft

Building Information

Year Built1982
Stories1
Roof Type105

Land Information

APNR-6147-007-1550-1
Lot Number155
SubdivisionCollin County School Land #12 Survey
Land UseResidential
Legal DescriptionABS A0147 COLLIN COUNTY SCHOOL LAND #12 SURVEY, SHEET 7, TRACT 155, .24 ACRES
Census Tract030304
Assessed Land Value$209,080
Assessed Improvement Value$80,920
Assessment Year2025

About this property

Welcome to 509 E First Street, a beautifully updated home nestled in the heart of historic downtown Prosper. This charming 3-bedroom, 2-bath residence offers approximately 1,336 square feet of thoughtfully designed living space, blending modern upgrades with small-town charm. Step inside to discover a bright, open layout featuring updated flooring, recessed lighting, modern fixtures, and stylish finishes throughout. The renovated kitchen boasts quartz countertops, stainless steel appliances, custom cabinetry, designer tile flooring, and open floating shelves, creating a clean and contemporary feel perfect for everyday living or entertaining. The spacious living areas provide flexibility for both relaxation and work-from-home functionality, ideal space for a home office, guest suite, or flex room. Outside, enjoy the expansive yard with plenty of room to entertain, garden, or expand. Additional highlights include a durable metal roof with solar panels that keep your Electrical bill at near zero ! . Solar panels are owned and NOT leased. fresh exterior paint except the trim, updated curb appeal, a large backyard deck area, mature trees. Located within highly sought-after Prosper ISD and just minutes to downtown Prosper shops, dining, and future redevelopment, this move-in-ready property offers a rare opportunity to own a stylishly renovated home in one of Prosper’s fastest-growing and most desirable areas. Don’t miss your chance to own this unique property in the heart of Prosper.

Investor Tools

$0Estimated Mortgage Balance
$342,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,340 /month
Positive
Cash Flow Estimate:
$780 /month

Interested in this property?

Brent Conrad

Conrad Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$536/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,727
$290,000
2025
$209,080
$80,920
$290,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,727
$290,000

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$342,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,100/mo
N/A
+$2,100/mo
7.4%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Prosper

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