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3522 Sequoia Lane Melissa, TX 75454

4 Beds 2 Baths 2,254 sqft Built 2018

$335,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $148.62
  • 3 Days on Market
  • MLS # : 14488464
  • Updated Date : 12/19/2020 at 09:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,254 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

This beautiful home has been meticulously maintained and shows like a brand new home! Wonderful open-concept living with sleek lines and oversized 4th BR, living & dining rooms. Luxury vinyl plank flooring extends from the foyer thru the living room, kitchen and dining areas and the stunning kitchen offers gorgeous granite counters, subway tile, white cabinetry and SS Whirlpool appliances. Versatile 4th BR could be used as a media room or study. The primary bedroom is split for privacy and features separate vanities with nice cabinetry & marble counters, framed mirrors & large WI closet. Nice-sized yard with covered patio & TV mount. CAT Cable Internet in every room + patio! Great location close to elem school!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,236
Property Tax -$680
Property Insurance -$157
HOA -$51
Property Management Fees -$99
CASH FLOW
-$183

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.

$335,000

PROJECTED PRICE

$2,040

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,068

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0403$2,0504$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 3522 Sequoia Lane Melissa, TX 2
    • 3 beds 2 baths ∙ 2,254 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,254 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.91
    •  
  • 4416 Oak Bluff Drive Melissa, TX 1
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2015
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
  • 4310 Magnolia Drive Melissa, TX 3
    • 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
  • 3607 Sequoia Lane Melissa, TX 4
    • 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2017
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 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
Eric Medders
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 #: 14488464
Last Updated: 12/19/2020
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