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740 Village Park Lane Prosper, TX 75078

4 Beds 4 Baths 2,726 sqft Built 2020

$549,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $201.72
  • 4 Days on Market
  • MLS # : 14466381
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,726 sqft
  • Baths : 3 full , 1 half
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Entry welcomes with 12-foot ceiling. Game room off extended entry with 13-foot coffered ceiling. Spacious family room with wall of windows and a wood mantel fireplace opens to kitchen and dining area. Kitchen offers corner walk-in pantry and inviting island with built-in seating space. Primary suite includes bedroom with wall of windows. Double doors lead to primary bath with dual vanities, garden tub, separate glass-enclosed shower and large walk-in closet. A guest suite with private bath adds to this four-bedroom design. Two-car garage.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,029
Property Tax -$1,047
Property Insurance -$185
HOA -$51
Property Management Fees -$99
CASH FLOW
-$1,141

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.

$549,900

PROJECTED PRICE

$2,270

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,724

INVESTMENT

$147,724

Down Payment
$137,475
Rehab Estimate
$2,000
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$47

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,276

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2703$2,2954$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 740 Village Park Lane Prosper, TX 2
    • 4 beds 4 baths ∙ 2,726 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,726 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.83
    •  
  • 1320 Nacona Drive Prosper, TX 1
    • 5 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,704 Sqft ∙ Built 2014
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 1728 Medina Lane Prosper, TX 3
    • 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2012
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 16505 Toledo Bend Court Prosper, TX 4
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2014
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 16412 Amistad Avenue Prosper, TX 5
    • 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2020
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.87
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466381
Last Updated: 11/05/2020
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