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1115 Dickenson Drive Melissa, TX 75454

3 Beds 2 Baths 2,054 sqft Built 2014

$289,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $141.14
  • 2 Days on Market
  • MLS # : 14528098
  • Updated Date : 03/06/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,054 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Beautiful and meticulously maintained single story home located in The Villages of Melissa! Large master-bedroom with wonderful private master suite featuring double sinks, huge walk in closet, garden tub, and separate shower. Large kitchen with island, breakfast area, walk-in pantry, and room for bar seating. Spacious living area with gas fireplace. Covered front porch and back patio! Neighborhood amenities include pool, splash pad, jogging trails, parks, ponds, and green space! Exemplary Melissa ISD!! This one won't last! Buyer and Buyers agent to confirm all information. Showings will begin Sunday March 7, 2021

SEE MORE

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: 75454

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75454

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10952171

* 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
Harry Mckillop Elementary School Primary Regular 718 41 9
Melissa Middle School Middle Regular 331 21 10
Melissa High School High Regular 583 35 8

Harry Mckillop Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 41
9
GreatSchools Rating

Melissa Middle School

  • Education Level: Middle
  • # of students: 331
  • # of teachers: 21
10
GreatSchools Rating

Melissa High School

  • Education Level: High
  • # of students: 583
  • # of teachers: 35
8
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,007
Property Tax -$588
Property Insurance -$146
HOA -$36
Property Management Fees -$99
CASH FLOW
-$156

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,8504$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 1115 Dickenson Drive Melissa, TX 2
    • 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.84
    •  
  • 1124 Bexar Avenue Melissa, TX 1
    • 4 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 1112 Bexar Avenue Melissa, TX 3
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2010
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 1109 Dickenson Drive Melissa, TX 4
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2014
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1105 Bexar Avenue Melissa, TX 5
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 2011
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mahum Khan
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528098
Last Updated: 03/06/2021
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