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660 Willowview Drive Prosper, TX 75078

4 Beds 5 Baths 4,040 sqft Built 2004

$600,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $148.51
  • 3 Days on Market
  • MLS # : 14541012
  • Updated Date : 03/26/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,040 sqft
  • Baths : 3 full , 2 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

There's no place like home!Move right into this charming,elegant and recently updated David Weekley home!One owner home boasts 4040 square feet on a beautifully landscaped interior corner lot in the highly coveted Willow Ridge in Prosper.All four bedrooms are downstairs,media room and game or flex area upstairs with a one-half bath.Front, side entry three car garage and large driveway.Fully fenced yard offers privacy and lush landscaping!Recent updates include roof,gutters,exterior paint.Rebuilt east side landscaped tree wall,installed outdoor lighting and LED flood lights.Lightfilled kitchen features gorgeous granite counter tops,updated hardware and recent appliances.Flexible open floor plan.Community pool!!!

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
R. Steve Folsom Elementary School Primary Regular 719 47 9
Reynolds Middle School Middle Regular 1,048 68 8
Prosper High School High Regular 1,868 120 9

R. Steve Folsom Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 47
9
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

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$2,084
Property Tax -$1,172
Property Insurance -$261
HOA -$59
Property Management Fees -$99
CASH FLOW
-$85

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.

$600,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.60%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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

3.58

YEARS SAVED

$20,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,373

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,3503$3,5004$3,5905$3,700
$3,700
RENT COMPS ANALYSIS
  • 660 Willowview Drive Prosper, TX 4
    • 4 beds 5 baths ∙ 4,040 Sqft ∙ Built 2004 4 beds 5 baths ∙ 4,040 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $0.89
    •  
  • 361 Berkshire Court Prosper, TX 1
    • 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,853 Sqft ∙ Built 2015
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.82
    •  
  • 1640 Greenwood Court Prosper, TX 2
    • 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,075 Sqft ∙ Built 2010
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.82
    •  
  • 2210 Nocona Drive Prosper, TX 3
    • 5 beds 4 baths ∙ 4,299 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,299 Sqft ∙ Built 2010
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.81
    •  
  • 801 Martin Creek Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 4,145 Sqft ∙ Built 2011 4 beds 4 baths ∙ 4,145 Sqft ∙ Built 2011
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cathy Guasque
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541012
Last Updated: 03/26/2021
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