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1060 Earthwind Drive Prosper, TX 75078

4 Beds 5 Baths 2,876 sqft Built 2021

$650,772

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $226.28
  • 3 Days on Market
  • MLS # : 14527659
  • Updated Date : 03/05/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 4 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# - Built by Highland Homes - June completion! ~ Exquisite exterior with tall roof pitch. Very open home with slider doors going outside to an extended covered patio. Kitchen has abundant countertops and cabinets for the chef in the family. Game room, bedroom and bathroom upstairs. Finished with wood floors in entry and main walk areas, 8-foot solid core doors and generous upgrades throughout. West facingLot 55 x 125

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
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
 

$585,695$715,849$650,772

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,260
Property Tax -$1,271
Property Insurance -$193
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,424

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.

$650,772

PROJECTED PRICE

$2,500

PROJECTED RENT

0.38%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,455

INVESTMENT

$174,455

Down Payment
$162,693
Rehab Estimate
$2,000
Closing Costs
$9,762

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,260

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,693
Loan Amount $488,079
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5494$2,5755$2,700
$2,700
RENT COMPS ANALYSIS
  • 1060 Earthwind Drive Prosper, TX 2
    • 4 beds 5 baths ∙ 2,876 Sqft ∙ Built 2021 4 beds 5 baths ∙ 2,876 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 16720 Lincoln Park Lane Prosper, TX 1
    • 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2016
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 16617 Millenium Park Place Prosper, TX 3
    • 4 beds 4 baths ∙ 3,008 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,008 Sqft ∙ Built 2017
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,549
    • $0.85
    •  
  • 16701 Lincoln Park Lane Prosper, TX 4
    • 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2017
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.86
    •  
  • 16716 Central Garden Lane Prosper, TX 5
    • 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2017
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.90
    •  
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 #: 14527659
Last Updated: 03/05/2021
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