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3018 Melrose Drive Seagoville, TX 75159

4 Beds 2 Baths 1,553 sqft Built 2014

$220,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $141.66
  • 3 Days on Market
  • MLS # : 14508475
  • Updated Date : 01/30/2021 at 09:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,553 sqft
  • Baths : 2 full
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. PLEASE PRESENT BEST AND HIGHEST BY SUN 1.31.21 BY NOON.LOOKING for a 100% clean, renewable energy source? LOOK NO FURTHER! $40,000 worth of SOLAR PANELS are YOURS along with a $16.00 average monthly electric bill!! WELCOME HOME! This beautiful WELL MAINTAINED 1 OWNER 4 bedroom 2 bath home is ready for its new owner! Entering this lovely home, you will be welcomed by an open concept living with an ideal flowing floor plan which creates a fantastic space. Fenced in backyard for the dog or kids. Enjoy split bedrooms, granite counter tops, ceramic tile and carpet. Located in a settled neighborhood. Easy access to I-20.

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

Neighborhood: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Highland Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451736

* 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
Achziger Elementary School Primary Regular 914 56 6
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4

Achziger Elementary School

  • Education Level: Primary
  • # of students: 914
  • # of teachers: 56
6
GreatSchools Rating

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$764
Property Tax -$516
Property Insurance -$117
HOA -$28
Property Management Fees -$99
CASH FLOW
$97

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.

$220,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$15,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,452

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6154$1,6205$1,750
$1,750
RENT COMPS ANALYSIS
  • 3018 Melrose Drive Seagoville, TX 4
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.04
    •  
  • 15651 Danson Drive Dallas, TX 1
    • 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.91
    •  
  • 936 Haley Drive Dallas, TX 2
    • 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 2015
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 925 Haley Drive Dallas, TX 3
    • 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.93
    •  
  • 926 Abigale Lane Dallas, TX 5
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Deana Boyd
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508475
Last Updated: 01/30/2021
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