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1020 Gentle Knoll Lane Prosper, TX 75078

3 Beds 3 Baths 2,348 sqft Built 2020

$525,280

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $223.71
  • 4 Days on Market
  • MLS # : 14470392
  • Updated Date : 11/12/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,348 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14470392 - Built by Highland Homes - March completion! ~ Exquisite exterior with elevated roof pitch. This home is very open with a large island in the kitchen and abundant counter work space with a built-in hutch for extra storage. Beautiful luxury vinyl floors in main living areas, 8-foot solid core doors, recessed shower pan with tile in master bathroom any many more upgrades included. West facing55 x 125 lot

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

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

Windsong 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
 

$472,752$577,808$525,280

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,938
Property Tax -$1,026
Property Insurance -$163
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,016

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.

$525,280

PROJECTED PRICE

$2,310

PROJECTED RENT

0.44%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$141,199

INVESTMENT

$141,199

Down Payment
$131,320
Rehab Estimate
$2,000
Closing Costs
$7,879

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,938

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,320
Loan Amount $393,960
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3104$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1020 Gentle Knoll Lane Prosper, TX 3
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.98
    •  
  • 16705 Millenium Park Place Prosper, TX 1
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2017
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 2300 Prospect Park Drive Prosper, TX 2
    • 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 2309 Prospect Park Lane Prosper, TX 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 2404 Prospect Park Lane Prosper, TX 5
    • 3 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470392
Last Updated: 11/12/2020
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