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3108 Bobcat Drive Melissa, TX 75454

4 Beds 4 Baths 2,533 sqft Built 2020

INVESTimate

$339,150

List Price

$2,190

$1,971 - $2,409

Rent Est.

$363,671  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $133.89
  • 3 Days on Market
  • MLS # : 14419776
  • Updated Date : 08/25/2020 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,533 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14419776 - Built by Altura Homes - November completion! ~ This 2 story home is on a spacious corner lot with full sod, full sprinkler system and full gutters.. Very energy efficient home with a tankless water heater, radiant barrier decking and vinyl windows. White cabinets throughout the entire home and a beautiful upgrade white granite in the kitchen. Light colored wood look tile throughout all the common areas and upgraded carpet in all the bedrooms and game room. Iron spindles on the stairway, cast stone fireplace in the family room and a covered patio.

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
 

$305,235$373,065$339,150

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,251
Property Tax -$688
Property Insurance -$174
HOA -$30
Property Management Fees -$99
CASH FLOW
-$52

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.

$339,150

PROJECTED PRICE

$2,190

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$84,788
Rehab Estimate
$2,000
Closing Costs
$5,087

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,788
Loan Amount $254,363
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1003$2,1904$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 3108 Bobcat Drive Melissa, TX 3
    • 4 beds 4 baths ∙ 2,533 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,533 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.86
    •  
  • 2707 Jackson Drive Melissa, TX 1
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 2004
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 4300 Milrany Lane Melissa, TX 2
    • 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4218 Cherry Lane Melissa, TX 4
    • 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 2016
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 4025 Magnolia Ridge Drive Melissa, TX 5
    • 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 2020
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
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 #: 14419776
Last Updated: 08/25/2020
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