840 Urbana Drive
About This Property
Phase 1 Custom-Build Section: This homesite is part of Park Place's premium Phase 1 custom section, where homeowners design fully custom homes with their builder of choice. For reference, neighboring Phase 2 features Shaddock Homes and Grand Homes - strong indicators of community home values.
Prime Location:
2 miles to Dallas North Tollway and US-380
2.5 miles to PGA of America HQ
4 miles to Universal Kids Resort (Frisco)
Minutes to premier shopping, dining, and entertainment in Frisco, Plano, and the greater North Dallas area.
Park Place Community Amenities:
Gated entry with controlled access, resort-style pool and clubhouse, pickleball courts, playground, walking trails, and a stocked pond with fountain.
Top-Rated Prosper ISD Schools
Bryant Elementary
Rushing Middle
Richland High School (Prosper ISD new high school, opened 2025 with state-of-the-art facilities)
Why This Lot Stands Out:
Spacious 0.29 acres or 12,580 sq ft
Ready to build, bring your own builder
All underground utilities (water, sewer, electric, gas)
No PID, No MUD taxes - a rare advantage in newer Prosper communities
HOA $875 per year includes all community amenities and front yard maintenance.
A rare opportunity to secure a premium homesite in one of Prosper most sought-after gated communities.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 11, 2026 | Sold | ||
| Sold | |||
| Aug 25, 2026 | In contract | - | |
| In contract | |||
| May 5, 2026 | Listed by Citiwide Alliance Realty | $360,000 | |
| Listed by Citiwide Alliance Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017