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871 Agave Drive Prosper, TX 75078

4 Beds 4 Baths 3,641 sqft Built 2020

$650,000

List Price

$3,570

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $178.52
  • 1 Days on Market
  • MLS # : 14496502
  • Updated Date : 01/10/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,641 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Premier

Listing Agent's Description

Barley lived in. Highland home, plan 547 C. Open & airy floor plan, Kitchen has gas cooktop, quartz counter tops, loads of workspace and cabinetry and opens to family room, large media room downstairs. Security system and many smart home features, move-in ready 4 living areas - Upstairs gameroom and separate play or study area. Pool sized backyard, Walking distance to common areas, easy access to toll roads. Hurry this one won't last!

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
 

$585,000$715,000$650,000

PURCHASE PRICE

$3,213$3,927$3,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,570
EXPENSES Loan Payment -$2,258
Property Tax -$1,238
Property Insurance -$238
HOA -$134
Property Management Fees -$99
CASH FLOW
-$396

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.

$650,000

PROJECTED PRICE

$3,570

PROJECTED RENT

0.55%

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

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$174,250

INVESTMENT

$174,250

Down Payment
$162,500
Rehab Estimate
$2,000
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,570

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $3,595

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5003$3,5004$3,5705$3,700
$3,700
RENT COMPS ANALYSIS
  • 871 Agave Drive Prosper, TX 4
    • 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $0.98
    •  
  • 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
    •  
  • 16198 Moss Haven Lane Frisco, TX 2
    • 5 beds 5 baths ∙ 3,897 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,897 Sqft ∙ Built 2017
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
  • 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 5
    • 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
Ivy Boland
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496502
Last Updated: 01/10/2021
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