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2508 Brandywine Drive Melissa, TX 75454

4 Beds 4 Baths 3,395 sqft Built 2020

$542,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $159.91
  • 6 Days on Market
  • MLS # : 14479444
  • Updated Date : 12/01/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,395 sqft
  • Baths : 3 full , 1 half
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Home office with French doors set at entry with 20-foot ceiling. Formal dining room opens to rotunda with curved staircase. Family room with 18-foot ceiling, a wood mantel fireplace and wall of windows opens to kitchen and morning area. Kitchen hosts generous island with built-in seating space. Primary suite with curved wall of windows. Primary bath includes dual vanity, corner garden tub, separate glass-enclosed shower and large walk-in closet with access to utility room. First-floor guest suite. A game room, media room and two secondary bedrooms are upstairs. Covered backyard patio. Mud room off three-car garage.

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
 

$488,610$597,190$542,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,003
Property Tax -$1,101
Property Insurance -$223
HOA -$54
Property Management Fees -$99
CASH FLOW
-$921

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.

$542,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.47%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,869

INVESTMENT

$145,869

Down Payment
$135,725
Rehab Estimate
$2,000
Closing Costs
$8,144

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,725
Loan Amount $407,175
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,580

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5004$2,5605$2,600
$2,600
RENT COMPS ANALYSIS
  • 2508 Brandywine Drive Melissa, TX 4
    • 4 beds 4 baths ∙ 3,395 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,395 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.75
    •  
  • 2313 Independence Drive Melissa, TX 1
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2015
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.75
    •  
  • 2708 Westpoint Drive Melissa, TX 2
    • 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 2903 Madison Drive Melissa, TX 3
    • 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 3210 Franklin Avenue Melissa, TX 5
    • 5 beds 5 baths ∙ 3,480 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,480 Sqft ∙ Built 2014
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479444
Last Updated: 12/01/2020
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