Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2903 Primrose Trail Melissa, TX 75454

4 Beds 2 Baths 3,191 sqft Built 2021

$434,900

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.29
  • 4 Days on Market
  • MLS # : 14507338
  • Updated Date : 01/27/2021 at 08:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,191 sqft
  • Baths : 2 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14507338 - Built by Pacesetter Homes - March completion! ~ New Construction ready in March. 4bdrm, 3 ba with a study and formal dining area. Open concept plan with a deluxe kitchen featured at the heart of the home. Master suite with extended sitting area provides a retreat to escape. The master bath upgraded with nice sized soaking tub. Come take a look at this quick, it wont last long.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$391,410$478,390$434,900

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,511
Property Tax -$882
Property Insurance -$212
HOA -$83
Property Management Fees -$99
CASH FLOW
-$277

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.

$434,900

PROJECTED PRICE

$2,510

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,249

INVESTMENT

$117,249

Down Payment
$108,725
Rehab Estimate
$2,000
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,545

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4303$2,4504$2,5005$2,510
$2,510
RENT COMPS ANALYSIS
  • 2903 Primrose Trail Melissa, TX 5
    • 4 beds 2 baths ∙ 3,191 Sqft ∙ Built 2021 4 beds 2 baths ∙ 3,191 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.79
    •  
  • 3113 Spanish Oak Trail Melissa, TX 1
    • 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2007
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 3107 Whispering Pine Boulevard Melissa, TX 2
    • 4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,023 Sqft ∙ Built 2006
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.80
    •  
  • 2706 Katie Trail Melissa, TX 3
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2004
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
  • 2903 Madison Drive Melissa, TX 4
    • 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
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507338
Last Updated: 01/27/2021
BESbswy