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2305 Jackson Drive Melissa, TX 75454

4 Beds 3 Baths 3,555 sqft Built 2015

$465,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $130.80
  • 5 Days on Market
  • MLS # : 14539886
  • Updated Date : 03/25/2021 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,555 sqft
  • Baths : 3 full
Listing Agent

Tanglewood Real Estate Company

Listing Agent's Description

One Owner Highland Homes meticulously cared for. Open floor plan with lots of windows, all with Plantation Shutters. 2 story 4 bedroom home. 2 bedrooms, 2 full baths & office downstairs. 2 bedrooms, full bath, game room & media room upstairs. Media Equipment to convey with home. Master bathroom has separate tub & walk in shower & custom closet. Extended covered patio and landscaped & wood privacy fenced backyard. 3 car tandem garage with built in cabinets in 3rd garage. Inviting kitchen with 42 in. dark upper cabinets, granite countertops, stainless steel GE appliances, large island overlooking living room. Living room with corner brick & stone fireplace with gas logs & 19' vaulted ceiling. Washer Dryer Remain.

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

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,615
Property Tax -$943
Property Insurance -$233
HOA -$54
Property Management Fees -$99
CASH FLOW
-$354

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.

$465,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.56%

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) 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-$10k-$5.0k$0.0$5.0k

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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,678

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5903$2,6004$2,695
$2,695
RENT COMPS ANALYSIS
  • 2305 Jackson Drive Melissa, TX 2
    • 4 beds 3 baths ∙ 3,555 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,555 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.73
    •  
  • 2903 Madison Drive Melissa, TX 1
    • 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 3210 Franklin Avenue Melissa, TX 3
    • 5 beds 5 baths ∙ 3,480 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,480 Sqft ∙ Built 2014
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 3303 Robin Trail Melissa, TX 4
    • 5 beds 5 baths ∙ 3,637 Sqft ∙ Built 2015 5 beds 5 baths ∙ 3,637 Sqft ∙ Built 2015
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.74
    •  
PROPERTY LISTING DETAILS
Marie Ward
Tanglewood Real Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539886
Last Updated: 03/25/2021
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