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4000 Gaulding Drive Prosper, TX 75078

3 Beds 4 Baths 2,945 sqft Built 2021

$681,755

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $231.50
  • 2 Days on Market
  • MLS # : 14505392
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,945 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14505392 - Built by Highland Homes - July completion! ~ Luxurious 1 Story Home! North Facing Corner Lot. Huge primary suite and a Junior primary suite featuring dual sinks and walk in closet! second bedroom includes private bath. Open concept kitchen-dining-family room leads through sliding glass doors to huge covered patio to pool sized backyard. Working from home is easier with a front facing study. Enjoy movie night in the entertainment room. 3 car tandem garage. In desirable Prosper ISD.

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
 

$613,580$749,931$681,755

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,368
Property Tax -$1,332
Property Insurance -$197
HOA -$108
Property Management Fees -$99
CASH FLOW
-$1,394

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.

$681,755

PROJECTED PRICE

$2,710

PROJECTED RENT

0.40%

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$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$182,665

INVESTMENT

$182,665

Down Payment
$170,439
Rehab Estimate
$2,000
Closing Costs
$10,226

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,368

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,439
Loan Amount $511,316
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$75

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,731

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,4953$2,5004$2,7105$3,000
$3,000
RENT COMPS ANALYSIS
  • 4000 Gaulding Drive Prosper, TX 4
    • 3 beds 4 baths ∙ 2,945 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,945 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.92
    •  
  • 12004 Tobosa Circle Mckinney, TX 1
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.92
    •  
  • 1313 Solana Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,785 Sqft ∙ Built 2016
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.90
    •  
  • 3663 E 1st Street Prosper, TX 3
    • 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2003
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 131 Springbrook Drive Prosper, TX 5
    • 3 beds 4 baths ∙ 3,085 Sqft ∙ Built 2014 3 beds 4 baths ∙ 3,085 Sqft ∙ Built 2014
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
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 #: 14505392
Last Updated: 01/23/2021
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