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1096 Luton Drive Prosper, TX 75078

5 Beds 3 Baths 2,997 sqft Built 2008

$307,500

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $102.60
  • 3 Days on Market
  • MLS # : 14484320
  • Updated Date : 12/11/2020 at 12:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,997 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful 2 story home on an oversized corner lot! Stunning curb appeal with swing garage. Open kitchen design with lots of cabinetry storage. First floor master suite is perfect for king size furniture. Master bath with dual sinks, separate shower, and garden soaking tub. Large backyard is perfect for outdoor living and entertaining. This home is a MUST SEE!

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: Glenbrooke Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Neighborhood: Glenbrooke Estates

NeighborhoodNIR 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$276,750$338,250$307,500

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,135
Property Tax -$586
Property Insurance -$200
HOA -$40
Property Management Fees -$99
CASH FLOW
$210

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.

$307,500

PROJECTED PRICE

$2,270

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,238

INVESTMENT

$87,238

Down Payment
$76,875
Rehab Estimate
$5,750
Closing Costs
$4,613

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,135

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,875
Loan Amount $230,625
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$37,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,345

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2704$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1096 Luton Drive Prosper, TX 3
    • 5 beds 3 baths ∙ 2,997 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,997 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.76
    •  
  • 781 Lancashire Lane Prosper, TX 1
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2015
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 5640 Colchester Drive Prosper, TX 2
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2014
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 950 Lancashire Lane Prosper, TX 4
    • 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 1060 Barrington Drive Prosper, TX 5
    • 5 beds 3 baths ∙ 2,952 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,952 Sqft ∙ Built 2010
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484320
Last Updated: 12/11/2020
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