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2880 Hyde Court Prosper, TX 75078

3 Beds 4 Baths 3,001 sqft Built 2018

$525,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $174.94
  • 3 Days on Market
  • MLS # : 14474672
  • Updated Date : 11/21/2020 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,001 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Prosper ISD - 70' Lot - $70k+ UPGRADES! Beautiful Darling-built 1.5-story home with all bedrooms downstairs. 2 Offices! Hardwood Floors. New Carpet. Chef's Kitchen: Granite, Painted Cabinets, Undercabinet Lighting & Sliders, Double Convection Oven, Island & Walk-In Pantry. Family Room Corner Fireplace. Spa-like Primary Bath: heat lamp & frameless shower with body sprays. 2 other bdrms downstairs have ensuite baths. Curved stairway leads to Gamerm, half bath & walk-in attic. Covered patio with gas stub. Security Cameras. Holiday Lighting Wiring Pkg. 16-seer AC, Tankless Water Heater & Radiant Barrier. Traexx System. Ring Doorbell & Nest Thermostat. Neighborhood amenity center, pool & trails. NO MUD OR PID TAX!

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
Cynthia A. Cockrell Elementary School Primary Regular 778 54 10
Lorene Rogers Middle School Middle Regular 1,184 72 9
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

Lorene Rogers Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 72
9
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,937
Property Tax -$1,026
Property Insurance -$201
HOA -$217
Property Management Fees -$99
CASH FLOW
-$899

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.

$525,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.49%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$9

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,798

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5803$2,6954$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2880 Hyde Court Prosper, TX 2
    • 3 beds 4 baths ∙ 3,001 Sqft ∙ Built 2018 3 beds 4 baths ∙ 3,001 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.86
    •  
  • 1313 Solana Drive Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.90
    •  
  • 11521 Annabelle Drive Mckinney, TX 3
    • 4 beds 3 baths ∙ 3,078 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,078 Sqft ∙ Built 2016
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.88
    •  
  • 131 Springbrook Drive Prosper, TX 4
    • 3 beds 4 baths ∙ 3,085 Sqft ∙ Built 2014 3 beds 4 baths ∙ 3,085 Sqft ∙ Built 2014
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
  • 440 Marbella Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2016
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ashley House
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474672
Last Updated: 11/21/2020
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