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218 Stonehollow Way Melissa, TX 75454

3 Beds 3 Baths 2,059 sqft Built 2021

$337,421

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $163.88
  • 5 Days on Market
  • MLS # : 14494946
  • Updated Date : 01/06/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,059 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! The Fitzhugh plan versatile flex space makes a great home office or game room and storage helps put everything in its place. White cabinets with sparkly white granite countertops, cool grey EVP flooring with greyish brown carpet in our Distinct package. Amenities include greenbelt, park, and trails. Near Hollow Oak golf course and Inspiration Park. Located in sought after Melissa ISD, North of McKinney Hwy 75, easy access to Hwy 380 and metro Dallas. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: 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
 

$303,679$371,163$337,421

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,172
Property Tax -$684
Property Insurance -$146
HOA -$33
Property Management Fees -$99
CASH FLOW
-$185

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.

$337,421

PROJECTED PRICE

$1,950

PROJECTED RENT

0.58%

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) 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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,417

INVESTMENT

$91,417

Down Payment
$84,355
Rehab Estimate
$2,000
Closing Costs
$5,061

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,172

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,355
Loan Amount $253,066
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9753$1,9804$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 218 Stonehollow Way Melissa, TX 1
    • 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,059 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 2109 Auburndale Avenue Melissa, TX 2
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.93
    •  
  • 2104 Auburndale Avenue Melissa, TX 3
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2020
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.98
    •  
  • 210 Lindenwood Avenue Melissa, TX 4
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2020
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
  • 2105 Laurel Street Melissa, TX 5
    • 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494946
Last Updated: 01/06/2021
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