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1101 Belknap Way Prosper, TX 75078

4 Beds 4 Baths 3,390 sqft Built 2018

$529,900

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $156.31
  • 5 Days on Market
  • MLS # : 14472290
  • Updated Date : 11/21/2020 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,390 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jones-papadopoulos & Co

Listing Agent's Description

Located in Windsong Ranch, home of the Crystal Lagoon. This open and bright floor plan w no wasted space makes it a great home for entertaining and every day living. Relax on the large covered outdoor patio with fp,motorized screen,& stackable sliders that bring the outdoors inside. The kitchen provides abundant storage, oversized kitchen island, ss appliances, and granite counters. Master suite has luxurious spa bath, separate vanities and large walk in closet connected to the laundry room for convenient access. Private study-office down, game room upstairs. 3 beds up, 1 of featuring en suite bath. This sought-after award-winning community has amenities galore. Easy access to highways, shopping & restaurants.

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

Neighborhood: Windsong Ranch

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Neighborhood: Windsong Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263615

* 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
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,955
Property Tax -$1,009
Property Insurance -$223
HOA -$134
Property Management Fees -$99
CASH FLOW
-$480

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.

$529,900

PROJECTED PRICE

$2,940

PROJECTED RENT

0.55%

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) 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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,280

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,940
1$2,9402$3,0003$3,2004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1101 Belknap Way Prosper, TX 1
    • 4 beds 4 baths ∙ 3,390 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,390 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.87
    •  
  • 131 Timber Creek Lane Frisco, TX 2
    • 5 beds 4 baths ∙ 3,548 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,548 Sqft ∙ Built 2018
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.85
    •  
  • 971 Yellowcress Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 4150 Porosa Lane Prosper, TX 4
    • 4 beds 5 baths ∙ 3,288 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,288 Sqft ∙ Built 2017
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.03
    •  
  • 222 Pinyon Lane Frisco, TX 5
    • 4 beds 5 baths ∙ 3,437 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,437 Sqft ∙ Built 2020
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Brooke Finnigan
Jones-papadopoulos & Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472290
Last Updated: 11/21/2020
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