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2050 Sun Meadow Drive Prosper, TX 75078

4 Beds 5 Baths 3,392 sqft Built 2020

$600,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $176.89
  • 3 Days on Market
  • MLS # : 14534486
  • Updated Date : 03/19/2021 at 12:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,392 sqft
  • Baths : 4 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Beautiful American Legend 2020 built home in Prosper's premiere Star Trail neighborhood. Home features study with glass front doors, gorgeous wood floors & thoughtful open floor plan for family living. Family room, kitchen & dining room are light & bright with wood floors. Kitchen features large island, double ovens, ss appliances, upper cabinets with glass fronts & lights opens to large dining area. Master suite is large with spa like bath featuring separate vanities, extra storage, garden tub & separate shower. Secondary bedroom with en-suite bath downstairs. Upstairs features game room & media room PLUS 2 bedrooms with en-suite baths. Patio space in backyard. 3 Car Garage. Prosper ISD no MUD or PID.

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
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
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,084
Property Tax -$1,172
Property Insurance -$223
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,058

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.

$600,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,000

INVESTMENT

$161,000

Down Payment
$150,000
Rehab Estimate
$2,000
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,671

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,6003$2,6204$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2050 Sun Meadow Drive Prosper, TX 3
    • 4 beds 5 baths ∙ 3,392 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,392 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.77
    •  
  • 16704 Central Garden Lane Prosper, TX 1
    • 5 beds 4 baths ∙ 3,479 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,479 Sqft ∙ Built 2017
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.72
    •  
  • 16612 Central Garden Lane Prosper, TX 2
    • 5 beds 4 baths ∙ 3,094 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,094 Sqft ∙ Built 2017
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 16700 Lincoln Park Lane Prosper, TX 4
    • 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2017
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.77
    •  
  • 2128 Austin Lane Prosper, TX 5
    • 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 2016
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Wayne Bartley Jr
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534486
Last Updated: 03/19/2021
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