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2210 Maplewood Drive Melissa, TX 75454

4 Beds 3 Baths 2,155 sqft Built 2020

$336,314

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $156.06
  • 3 Days on Market
  • MLS # : 14462928
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,155 sqft
  • Baths : 3 full
Listing Agent

Escape Realty

Listing Agent's Description

Built by MI Homes. Built by MI Homes. Welcome to the Pizarro floorplan, a single-story design in our all new Smart Series homes. This home is efficiently designed with 4 bedrooms, 3 bathrooms, a flex room, and a two car garage. This beautiful open-concept home connects the kitchen, dining, and living room together that is perfect for entertaining guests. Enjoy the outdoors under the covered patio that opens up to a spacious backyard or head down the street to the relaxing covered pavilion.

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
 

$302,683$369,945$336,314

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,241
Property Tax -$682
Property Insurance -$152
HOA -$29
Property Management Fees -$99
CASH FLOW
-$123

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.

$336,314

PROJECTED PRICE

$2,080

PROJECTED RENT

0.62%

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$10k

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$91,123

INVESTMENT

$91,123

Down Payment
$84,079
Rehab Estimate
$2,000
Closing Costs
$5,045

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,241

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,079
Loan Amount $252,236
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9803$1,9984$2,0805$2,095
$2,095
RENT COMPS ANALYSIS
  • 2210 Maplewood Drive Melissa, TX 4
    • 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.97
    •  
  • 2109 Auburndale Avenue Melissa, TX 1
    • 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 2
    • 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
    •  
  • 2109 Euclid Avenue Melissa, TX 3
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.94
    •  
  • 210 Lindenwood Avenue Melissa, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Cassian Bernard
Escape Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462928
Last Updated: 11/20/2020
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