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1416 Melanie Trail Midlothian, TX 76065

3 Beds 2 Baths 1,623 sqft Built 2011

$245,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $151.51
  • 3 Days on Market
  • MLS # : 14497261
  • Updated Date : 01/15/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,623 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Midlothian I.S.D. and priced to sell! Welcome home to your very well maintained 3 bed, 2 bath home in beautiful Midlothian Meadows. This home has a family friendly layout with lots of space to enjoy time together. You'll love relaxing on the covered front and back porches. Roof was replaced Dec 2018. Water softener throughout the whole home. Walking distance to the newly built, innovative Irvin Elementary, highly sought Midlothian HS or the new 4 acre dog park. Quick drive to the Kroger Shopping Center and fabulous eating and shopping in Downtown Midlothian. Perfect location for a commute to DFW or Southern Ellis County. You don't need me to tell you this one will sell fast! Buyers to verify all information.

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
J.r. Irvin Elementary School Primary Regular 365 25 7
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.r. Irvin Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 25
7
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$221,310$270,490$245,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$854
Property Tax -$537
Property Insurance -$121
HOA -$19
Property Management Fees -$99
CASH FLOW
$51

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.

$245,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,914

INVESTMENT

$70,914

Down Payment
$61,475
Rehab Estimate
$5,750
Closing Costs
$3,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,475
Loan Amount $184,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,7954$1,7955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1416 Melanie Trail Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.04
    •  
  • 1636 Catherine Street Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1999
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 226 Blake Lane Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2005
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.05
    •  
  • 1625 Melanie Trail Midlothian, TX 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2010
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.08
    •  
  • 1703 Ross Drive Midlothian, TX 5
    • 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 1999
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Christi Corbin
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497261
Last Updated: 01/15/2021
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