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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $125.49
- 5 Days on Market
- MLS # : 14477100
- Updated Date : 11/27/2020 at 12:47
CONSTRUCTION
- Beds : 4
- Floor Size : 2,303 sqft
- Baths : 2 full , 1 half
Listing Agent
Jp And Associates Realtors
Listing Agent's Description
As soon as you walk in, you'll feel like home!! The beautiful laminate floors and high ceilings lead you to the open floorplan where you can enjoy the spacious living area next to a cozy gas log fireplace. Enjoy entertaining your family outdoors under the beautiful custom cedar pergola! The split floorplan allows you to relax in your SPACIOUS private first floor master suite with jetted tub and plenty of natural lighting! Three bedrooms and additional living area upstairs. This home is nestled in the beautiful community of Hunter's Creek, only 45 minutes to downtown Dallas & downtown McKinney close by, you can enjoy the convenience of shopping, dining & A-rated schools in Melissa ISD! Definitely a must see!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75454
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,010 |
| EXPENSES | Loan Payment | -$1,066 |
| Property Tax | -$586 | |
| Property Insurance | -$160 | |
| HOA | -$29 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$69
|
||
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.
$289,000
PROJECTED PRICE
$2,010
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,335
LOAN DETAILS
$1,066
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
5.58
YEARS SAVED
$21,650
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,010
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$2,222
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
3308 Glenmore Drive Melissa, TX 1
- 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $2,010
- $0.87
-
2904 Winchester Avenue Melissa, TX 2
- 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2019
LEASED 04/16/20- Rent
- Rent Per SQFT
- $2,095
- $0.96
-
3016 Pronghorn Drive Melissa, TX 3
- 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2020
LEASED 09/04/20- Rent
- Rent Per SQFT
- $2,100
- $0.94
-
3102 Winchester Melissa, TX 4
- 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020
LEASED 09/08/20- Rent
- Rent Per SQFT
- $2,250
- $0.99
-
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
LEASED 08/06/20- Rent
- Rent Per SQFT
- $2,350
- $0.97
PROPERTY LISTING DETAILS
Jp And Associates Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14477100
Last Updated: 11/27/2020
