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1700 Greenwood Court Prosper, TX 75078

5 Beds 4 Baths 4,950 sqft Built 2007

$629,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $127.07
  • 2 Days on Market
  • MLS # : 14487071
  • Updated Date : 12/19/2020 at 04:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,950 sqft
  • Baths : 4 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Elegant home nestled on quiet cul-de-sac in the heart of Prosper! Enter thru beautiful iron doors to a sweeping staircase, wood flrs, spacious formals, rich finishout & trimwork. Well designed flrpln offers mud room off the garage, sep utility rm w sink & access to Master closet leading to ensuite. Gourmet kitchen w pro 6 burner cktp, grill & pot filler, custom cabinets w slow-close drawers, blt-in fridge, dble ovens & butlers pantry. Backyard oasis w pool spa, lush landscape & lrg play yard! Open family rm w built-ins, stone fireplace w gas logs. 1st flr has pvt 2 room suite for beds or offices w full bath & outdoor access. Upstairs features a 2nd master retreat, split beds, gameroom w desk & media w wetbar.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Cynthia A. Cockrell Elementary School Primary Regular 778 54 10
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

Cynthia A. Cockrell Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 54
10
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
 

$566,100$691,900$629,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,321
Property Tax -$1,229
Property Insurance -$313
HOA -$44
Property Management Fees -$99
CASH FLOW
-$756

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.

$629,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.52%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,435

INVESTMENT

$172,435

Down Payment
$157,250
Rehab Estimate
$5,750
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $3,366

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,2503$3,500
$3,500
RENT COMPS ANALYSIS
  • 1700 Greenwood Court Prosper, TX 2
    • 5 beds 4 baths ∙ 4,950 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,950 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.66
    •  
  • 1331 Monticello Drive Prosper, TX 1
    • 5 beds 5 baths ∙ 4,602 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,602 Sqft ∙ Built 2006
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.64
    •  
  • 1640 Chisholm Trail Prosper, TX 3
    • 5 beds 5 baths ∙ 4,891 Sqft ∙ Built 2016 5 beds 5 baths ∙ 4,891 Sqft ∙ Built 2016
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.72
    •  
PROPERTY LISTING DETAILS
Stacey Feltman
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487071
Last Updated: 12/19/2020
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