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830 Agave Drive Prosper, TX 75078

4 Beds 4 Baths 3,637 sqft Built 2020

$652,732

List Price

$3,700

$3.5K - $4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $179.47
  • 2 Days on Market
  • MLS # : 14488819
  • Updated Date : 12/19/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,637 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14488819 - Built by Highland Homes - April completion! ~ Our last one available and just so happens to be our Drama Mama. You will be impressed the minute you walk in with beautiful staircase in entry. Study located at front ideal for home office. Step in to the drama of the living areas featuring 20 foot vaulted ceilings and open to kitchen. Master in back offers privacy. Enjoy the huge media room downstairs and forget those unwanted trips up and down the stairs for forgotten drinks and snacks. Upstairs you will find three secondary bedrooms with a large game room and a bonus play room as well. Plenty of room for all in this gorgeous home. Ready for move in at end of April. Hurry!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$587,459$718,005$652,732

PURCHASE PRICE

$3,330$4,070$3,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,700
EXPENSES Loan Payment -$2,408
Property Tax -$1,243
Property Insurance -$237
HOA -$134
Property Management Fees -$99
CASH FLOW
-$422

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.

$652,732

PROJECTED PRICE

$3,700

PROJECTED RENT

0.57%

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

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$174,974

INVESTMENT

$174,974

Down Payment
$163,183
Rehab Estimate
$2,000
Closing Costs
$9,791

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,408

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $163,183
Loan Amount $489,549
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,700

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $3,710

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4003$3,5004$3,7005$3,700
$3,700
RENT COMPS ANALYSIS
  • 830 Agave Drive Prosper, TX 5
    • 4 beds 4 baths ∙ 3,637 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,637 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.02
    •  
  • 971 Yellowcress Drive Prosper, TX 1
    • 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 4150 Porosa Lane Prosper, TX 2
    • 4 beds 5 baths ∙ 3,288 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,288 Sqft ∙ Built 2017
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.03
    •  
  • 222 Pinyon Lane Frisco, TX 3
    • 4 beds 5 baths ∙ 3,437 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,437 Sqft ∙ Built 2020
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 4701 Crossvine Drive Prosper, TX 4
    • 4 beds 5 baths ∙ 3,480 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,480 Sqft ∙ Built 2015
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.06
    •  
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 #: 14488819
Last Updated: 12/19/2020
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