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3708 Bastrop Street Melissa, TX 75454

5 Beds 2 Baths 2,163 sqft Built 2018

$299,500

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $138.47
  • 7 Days on Market
  • MLS # : 14501799
  • Updated Date : 01/18/2021 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,163 sqft
  • Baths : 2 full
Listing Agent

Sulkin Holmes Realty

Listing Agent's Description

Welcome home to this gorgeous and immaculate 5 bedroom, yes, I said 5 bedroom, home. Located on a corner lot, this home is laid out perfectly for privacy for each bedroom. This home offers an open concept kitchen, dining and living arrangement when gathering. Beautiful weather, just step outside to the amazing back yard deck. The view from the front yard is great. Two large baths are perfect. Enjoy a very large master closet too. This home is only 3 years old and ready for you to make it home for you. Come see us quick. This one is a winner.

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
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,040
Property Tax -$608
Property Insurance -$152
HOA -$38
Property Management Fees -$99
CASH FLOW
-$107

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.

$299,500

PROJECTED PRICE

$1,830

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8504$1,8505$2,095
$2,095
RENT COMPS ANALYSIS
  • 3708 Bastrop Street Melissa, TX 1
    • 5 beds 2 baths ∙ 2,163 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,163 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.85
    •  
  • 3511 Founders Way Melissa, TX 2
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 2015
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 3510 Van Zandt Road Melissa, TX 3
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2016
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1301 Motley Drive Melissa, TX 4
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2016
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 3805 Brazos Street Melissa, TX 5
    • 5 beds 2 baths ∙ 2,163 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,163 Sqft ∙ Built 2018
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
PROPERTY LISTING DETAILS
Vicki Perkowski
Sulkin Holmes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501799
Last Updated: 01/18/2021
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