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2214 Maplewood Drive Melissa, TX 75454

4 Beds 2 Baths 1,888 sqft Built 2020

$296,945

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.28
  • 7 Days on Market
  • MLS # : 14471970
  • Updated Date : 11/16/2020 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14471970 - Built by History Maker Homes - March completion! ~ Must see this beautiful brick home featuring elegant front with stone. Well designed layout offers the feel of a cozy cottage with a modern open concept kitchen and family room overlooking back patio and yard . Large windows allow plenty of natural light. Master bedroom retreat offers spacious walk in closet and linen closet.

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
 

$267,251$326,640$296,945

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,096
Property Tax -$602
Property Insurance -$136
HOA -$29
Property Management Fees -$99
CASH FLOW
-$202

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.

$296,945

PROJECTED PRICE

$1,760

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,690

INVESTMENT

$80,690

Down Payment
$74,236
Rehab Estimate
$2,000
Closing Costs
$4,454

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,096

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,236
Loan Amount $222,709
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,7604$1,9805$2,000
$2,000
RENT COMPS ANALYSIS
  • 2214 Maplewood Drive Melissa, TX 3
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.93
    •  
  • 269 Salmon Lake Drive Melissa, TX 1
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 285 Big Bear Drive Melissa, TX 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 2104 Auburndale Avenue Melissa, TX 4
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2020
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.98
    •  
  • 212 Crescent Avenue Melissa, TX 5
    • 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 2020
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471970
Last Updated: 11/16/2020
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