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4601 Crossvine Drive Prosper, TX 75078

4 Beds 3 Baths 2,778 sqft Built 2014

$560,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $201.58
  • 4 Days on Market
  • MLS # : 14524059
  • Updated Date : 03/06/2021 at 22:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,778 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Prosper Celina

Listing Agent's Description

*MULTIPLE OFFER SITUATION- BEST AND FINAL OFFERS BY 6:00pm MARCH 7th* Windsong Ranch! Excellent 1 story Highland home. 4 Bedroom, 3 Bath with formal dinning room, kitchenette and study. Unwind in your own backyard retreat with koi pond, fountain, fire pit, outdoor lighting, and built in BBQ area. The inside has been upgraded as well, plantation shutters throughout, built in full wall bookshelf in study, upgraded ceiling fans throughout. 2 car Garage has epoxy flooring and dumbwaiter into attic. Contemporary kitchen with double ovens, glass front cabinets and granite island. Resort style living doesn't end there. Windsong Ranch is known for its amenities & community.

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

Neighborhood: Windsong Ranch

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k515k

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

Neighborhood: Windsong Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $11263615

* 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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,945
Property Tax -$1,067
Property Insurance -$188
HOA -$134
Property Management Fees -$99
CASH FLOW
-$672

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.

$560,000

PROJECTED PRICE

$2,760

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,445

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,5004$2,7605$2,999
$2,999
RENT COMPS ANALYSIS
  • 4601 Crossvine Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.99
    •  
  • 4581 Crossvine Drive Prosper, TX 1
    • 3 beds 4 baths ∙ 2,595 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,595 Sqft ∙ Built 2014
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
  • 950 Lancashire Lane Prosper, TX 2
    • 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 1301 Coleto Creek Trail Prosper, TX 3
    • 5 beds 4 baths ∙ 3,008 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,008 Sqft ∙ Built 2017
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 4850 Verbena Way Prosper, TX 5
    • 3 beds 3 baths ∙ 2,949 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,949 Sqft ∙ Built 2016
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $1.02
    •  
PROPERTY LISTING DETAILS
Tami Burnett
Keller Williams Prosper Celina
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524059
Last Updated: 03/06/2021
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