Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11906 Melrose Lane Frisco, TX 75035

4 Beds 3 Baths 3,659 sqft Built 1998

$410,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $112.05
  • 3 Days on Market
  • MLS # : 14479704
  • Updated Date : 12/04/2020 at 19:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,659 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Welcome to 11906 Melrose Lane. Just off Hwy 121 and Coit, this all brick home with fenced-in yard has just been updated with 30K in upgrades. This home is located on a coveted corner lot directly across from the luxurious community pool and playground. Your family will be walking distance to Frisco's A Rated elementary, middle and high school. Enjoy the: open concept, new flooring, new fixtures, new paint, new blinds, a modernized kitchen with granite & stainless steel appliances and an updated master bath area. The second floor master bedroom includes a sitting area and private outdoor lounging deck. Come visit one of the most spacious homes in the neighborhood. You won't want to leave.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Plantation Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Plantation Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262614

* 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
Bessie Gunstream Elementary School Primary Regular 698 42 8
Cal And Walt Wester Middle School Middle Regular 878 69 9
Centennial High School High Regular 2,065 138 9

Bessie Gunstream Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
8
GreatSchools Rating

Cal And Walt Wester Middle School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 69
9
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,065
  • # of teachers: 138
9
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,513
Property Tax -$813
Property Insurance -$239
HOA -$58
Property Management Fees -$99
CASH FLOW
-$121

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.

$410,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,863

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6003$2,8004$2,8505$3,200
$3,200
RENT COMPS ANALYSIS
  • 11906 Melrose Lane Frisco, TX 2
    • 4 beds 3 baths ∙ 3,659 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,659 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.71
    •  
  • 6503 White Oaks Lane Frisco, TX 1
    • 4 beds 3 baths ∙ 3,472 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,472 Sqft ∙ Built 1997
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.69
    •  
  • 5511 Norfolk Lane Frisco, TX 3
    • 5 beds 3 baths ∙ 3,610 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,610 Sqft ∙ Built 2001
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
  • 11178 Mosaic Drive Frisco, TX 4
    • 5 beds 4 baths ∙ 3,594 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,594 Sqft ∙ Built 2014
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.79
    •  
  • 12970 Sellaronda Way Frisco, TX 5
    • 4 beds 4 baths ∙ 3,685 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,685 Sqft ∙ Built 2016
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Kristin Mitchell
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479704
Last Updated: 12/04/2020
BESbswy