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4060 Woodbine Lane Prosper, TX 75078

5 Beds 5 Baths 4,320 sqft Built 2017

$750,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $173.61
  • 4 Days on Market
  • MLS # : 14538474
  • Updated Date : 03/26/2021 at 09:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,320 sqft
  • Baths : 4 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Built by MainVue Homes ~ 2 story, 5 bedrooms, 4.10 baths, 3 car garage, Magnificent entry with soaring, two-story ceiling, Striking master bedroom with impressive vaulted or coffered ceiling, Custom front entry door with glass inserts, Supersized, entertainment-ready kitchen island with sleek quartz countertops, Signature outdoor room with extra tall sliding glass doors, Indulgent soaking tub in luxurious master bath, Enhanced Master Dressing Room, Stately 8-foot interior doors throughout, designer free-standing tub in master bath, Double Story Ceiling at Entry, grand utility room with garage access, Split Vanitites at Master Bath

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$675,000$825,000$750,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$2,605
Property Tax -$1,428
Property Insurance -$277
HOA -$134
Property Management Fees -$99
CASH FLOW
-$563

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.

$750,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,821

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,980

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,974

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,9803$4,2004$4,500
$4,500
RENT COMPS ANALYSIS
  • 4060 Woodbine Lane Prosper, TX 2
    • 5 beds 5 baths ∙ 4,320 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,320 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,980
    • $0.92
    •  
  • 4160 Brazoria Drive Prosper, TX 1
    • 5 beds 5 baths ∙ 4,124 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,124 Sqft ∙ Built 2017
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.85
    •  
  • 701 Alton Drive Prosper, TX 3
    • 5 beds 5 baths ∙ 4,615 Sqft ∙ Built 2016 5 beds 5 baths ∙ 4,615 Sqft ∙ Built 2016
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.91
    •  
  • 4541 Bristleleaf Lane Prosper, TX 4
    • 5 beds 5 baths ∙ 4,492 Sqft ∙ Built 2016 5 beds 5 baths ∙ 4,492 Sqft ∙ Built 2016
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Doug Chitwood
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538474
Last Updated: 03/26/2021
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