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981 Gentle Knoll Lane Prosper, TX 75078

4 Beds 2 Baths 2,341 sqft Built 2021

$559,870

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $239.16
  • 7 Days on Market
  • MLS # : 14510694
  • Updated Date : 02/03/2021 at 09:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,341 sqft
  • Baths : 2 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14510694 - Built by Highland Homes - June completion! ~ 1-story, 4 bedrooms, 3 baths, family room, oversized master suite, and extended outdoor living, 2 car garage Exquisite exterior with elevated roof pitch. This home is very open with a large island in the kitchen and abundant counter work space with a built-in hutch for extra storage. Beautiful wood floors in main living areas, 8-foot solid core doors, recessed shower pan with tile in master bathroom any many more upgrades included. East facing 55 x 125 lot...

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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

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$503,883$615,857$559,870

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,945
Property Tax -$1,094
Property Insurance -$162
HOA -$100
Property Management Fees -$99
CASH FLOW
-$1,080

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.

$559,870

PROJECTED PRICE

$2,320

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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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$150,366

INVESTMENT

$150,366

Down Payment
$139,968
Rehab Estimate
$2,000
Closing Costs
$8,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% 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 $139,968
Loan Amount $419,903
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$43

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,3204$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 981 Gentle Knoll Lane Prosper, TX 3
    • 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.99
    •  
  • 16709 Spence Park Lane Prosper, TX 1
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2017
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 2300 Prospect Park Drive Prosper, TX 2
    • 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 2309 Prospect Park Lane Prosper, TX 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 2404 Prospect Park Lane Prosper, TX 5
    • 3 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,423 Sqft ∙ Built 2016
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
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 #: 14510694
Last Updated: 02/03/2021
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