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1711 Highland Meadows Drive Prosper, TX 75078

4 Beds 4 Baths 3,599 sqft Built 2000

INVESTimate

$739,900

List Price

$3,280

$3,030 - $3,530

Rent Est.

$777,265  ( +5.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $205.58
  • 6 Days on Market
  • MLS # : 14416368
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,599 sqft
  • Baths : 4 full
Listing Agent

Monument Realty

Listing Agent's Description

GORGEOUS Dave R. Williams custom home, private 1-acre wooded cul-de-sac lot in Highland Meadows. 1.5 story home has 4 bedrooms & 3 full baths downstairs. Spacious study, 2 dining areas, large family room with impressive stone fireplace & wood floors throughout. Kitchen features wine frig, island, light & bright white cabinets, granite countertops, ss appliances & lots of storage. Master suite has large seating area, double vanities with vanity seating, jetted tub, frameless shower & huge walk in closet. Upstairs has a large game room & full bath which could be used as a 5th bedroom. Fall in love with the outdoors featuring covered patio, outdoor kitchen, diving pool, tons of trees, iron fence & 3 car garage.

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

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
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,730
Property Tax -$1,446
Property Insurance -$235
HOA -$27
Property Management Fees -$99
CASH FLOW
-$1,257

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.

$739,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,419

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,190
1$3,1902$3,2003$3,2804$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1711 Highland Meadows Drive Prosper, TX 3
    • 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,599 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $0.91
    •  
  • 850 Wind Brook Lane Prosper, TX 1
    • 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2005
    property image
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.98
    •  
  • 1700 Red Rose Trail Celina, TX 2
    • 5 beds 5 baths ∙ 3,762 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,762 Sqft ∙ Built 2017
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.85
    •  
  • 1521 Lariat Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2019
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.94
    •  
  • 1810 Wichita Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 3,401 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,401 Sqft ∙ Built 2017
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Wayne Bartley
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416368
Last Updated: 08/21/2020
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