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1891 Cornell Drive Prosper, TX 75078

4 Beds 4 Baths 3,179 sqft Built 2020

INVESTimate

$739,000

List Price

$2,640

$2,390 - $2,890

Rent Est.

$197,835

Investment Est.

$776,320 ( +5.05%) 1 YR EST. FORECAST

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AVAILABLE

1 YEAR
Gross Yield	4.29%
NOI	$6,505

15 YEAR
Yield	-6.62%
Appreciation	3.34%
TOTAL RETURN	7.26%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

August 25, 2020 RECENTLY ADDED

FACTS

Built In 2020
Price/Sqft : $232.46
2 Days on Market
MLS # : 14420736
Updated Date : 08/25/2020 at 22:00

CONSTRUCTION

Beds : 4
Floor Size : 3,179 sqft
Baths : 3 full , 1 half

Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14420736 - Built by Highland Homes - December completion! ~ 1-story, 4 bedrooms + study, 3.5 bathrooms, 3-car tandem garage, entertainment room, extended patio, master sitting area. Beautiful 1-story home featuring large bedrooms. Premium elevation on 86' x 135' homesite. Upgrades include painted cabinets, quartz countertops in kitchen & master bath, double oven package, upgrade cooktop, freestanding tub in master bath

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109 Farm to Market Rd 1193

Prosper, Texas

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MARKET HIGHLIGHTS

Dallas Market Report

. 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)

Zip Code: 75078

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

Zip Code: 75078

* 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:

GreatSchools Rating

Reynolds Middle School

Education Level: Middle
# of students: 1,048
# of teachers: 68

GreatSchools Rating

Prosper High School

Education Level: High
# of students: 1,868
# of teachers: 120

GreatSchools Rating

FINANCIALS

Learn how to read this

$665,100$812,90000$739,000

PURCHASE PRICE

$2,376$2,90400$2,640

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,640
EXPENSES	Loan Payment	-$2,727
	Property Tax	-$1,444
	Property Insurance	-$211
	HOA	-$100
	Property Management Fees	-$99



CASH FLOW -$1,940

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$739,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.36%

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)	3.00%
Vacancy	6.93%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$197,835

Down Payment	$184,750
Rehab Estimate	$2,000
Closing Costs	$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,727

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$184,750
Loan Amount	$554,250

See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,640
LIST RENT
$0.83
LIST RENT PER SQFT

$2,662
COMP ESTIMATED VALUE
$0.84
COMP AVG. RENT PER SQFT

Comps Range

$2,395

1$2,3952$2,4753$2,6404$2,6955$3,295

$3,295

RENT COMPS ANALYSIS

3,179
PROPERTY SQFT
$0.84
AVG RENT PER SQFT
$2,662
ESTIMATED VALUE
$2,640
LIST RENT

1891 Cornell Drive Prosper, TX 5

4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020
Price

Price Per SQFT

$739,000

$232.46
3008 Comal Court Celina, TX 1

4 beds 4 baths ∙ 3,094 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,094 Sqft ∙ Built 2016
SOLD 08/25/20
Price

Price Per SQFT

$429,990

$138.98
850 Long Valley Court Prosper, TX 2

4 beds 4 baths ∙ 3,047 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,047 Sqft ∙ Built 2008
SOLD 05/11/20
Price

Price Per SQFT

$469,900

$154.22
1651 Pebblebrook Lane Prosper, TX 3

4 beds 4 baths ∙ 3,213 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,213 Sqft ∙ Built 2020
SOLD 06/05/20
Price

Price Per SQFT

$525,420

$163.53
1701 Deerwood Lane Prosper, TX 4

4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2020
SOLD 05/28/20
Price

Price Per SQFT

$580,020

$190.17

1891 Cornell Drive Prosper, TX 3

4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$2,640

$0.83
16017 Aquilla Way Prosper, TX 1

4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2018
LEASED 05/29/19
Rent

Rent Per SQFT

$2,395

$0.80
3408 Cimarron River Drive Celina, TX 2

4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2018
LEASED 02/21/20
Rent

Rent Per SQFT

$2,475

$0.82
2300 Grant Park Way Prosper, TX 4

5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2017
LEASED 07/25/19
Rent

Rent Per SQFT

$2,695

$0.79
1640 Trellis Drive Prosper, TX 5

4 beds 5 baths ∙ 3,499 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,499 Sqft ∙ Built 2017
LEASED 08/05/19
Rent

Rent Per SQFT

$3,295

$0.94

PROPERTY LISTING DETAILS

Ben Caballero
Highland Homes Realty

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420736
Last Updated: 08/25/2020

1891 Cornell Drive Prosper, TX 75078

INVESTimate

$739,000

$2,640

$197,835

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Windsong Elementary School

Reynolds Middle School

Prosper High School

FINANCIALS

$665,100$812,90000$739,000

$2,376$2,90400$2,640

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$739,000

$2,640

0.36%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$2,727

-0.33

$2,170

$739,000

$232.46

$514,124

$161.73

COMPS RANGE

PRICE COMPS ANALYSIS

$2,640

$0.83

$2,662

$0.84

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS