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1381 Kirkwood Lane Prosper, TX 75078

4 Beds 4 Baths 2,967 sqft Built 2007

$445,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $149.98
  • 3 Days on Market
  • MLS # : 14523661
  • Updated Date : 03/06/2021 at 10:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,967 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

Fabulous Highland built 4 bedroom home in beautiful Lakes of Prosper! Great floor plan features 3 large bedrooms, 2 full baths, and game room upstairs with private master on main. Kitchen w island has plenty of counter space and cabinets galore. Large main living area w beautiful gas fireplace and hand scraped hardwood floors. New carpet throughout. Covered back patio features built-in grill, space for refrigerator, bar area w seating. Plenty of space to sit around the firepit or under the pergola too! Big backyard w room for a pool. 3 car oversized garage. Radiant barrier decking. Neighborhood pool. Prosper ISD. Excellent location near tollway. MULTIPLE OFFERS RECEIVED Buyer and buyers agent to verify all info

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

Boyer 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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,546
Property Tax -$869
Property Insurance -$199
HOA -$130
Property Management Fees -$99
CASH FLOW
-$113

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.

$445,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,871

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,7303$2,9954$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1381 Kirkwood Lane Prosper, TX 2
    • 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.92
    •  
  • 940 Club Oak Court Prosper, TX 1
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2007
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.90
    •  
  • 600 Hampshire Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.06
    •  
  • 1425 Bridgewater Boulevard Celina, TX 4
    • 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,223 Sqft ∙ Built 2018
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
  • 951 Rustic Lane Prosper, TX 5
    • 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Naomi King
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523661
Last Updated: 03/06/2021
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