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

3306 Glenmore Drive Melissa, TX 75454

3 Beds 2 Baths 1,385 sqft Built 2006

$230,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $166.06
  • 3 Days on Market
  • MLS # : 14531980
  • Updated Date : 03/20/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

MULTIPLE OFFERS, Best and final by 7pm Sunday March 21st -- Exceptional value in this 3-bedroom, 2 bath home in desirable Hunter’s Creek! This well-maintained home features a versatile floorplan, decorative lighting, window coverings, ceiling fans and neutral paint colors throughout. Large family room, light and bright eat-in kitchen with beautiful bay windows and built-in microwave. Large backyard with new fence is perfect for kids and pets to play safely. Charming home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$799
Property Tax -$467
Property Insurance -$107
HOA -$30
Property Management Fees -$99
CASH FLOW
-$102

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.

$230,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.61%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5753$1,6254$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3306 Glenmore Drive Melissa, TX 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 3606 Applewood Road Melissa, TX 2
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 2009
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.15
    •  
  • 4200 Ridgewood Road Melissa, TX 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2009
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
  • 4004 Falcon Drive Melissa, TX 4
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2019
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.08
    •  
  • 3903 Mockingbird Lane Melissa, TX 5
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2020
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.15
    •  
PROPERTY LISTING DETAILS
Patty Moreno
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531980
Last Updated: 03/20/2021
BESbswy