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3808 Kendall Melissa, TX 75454

5 Beds 2 Baths 2,163 sqft Built 2018

$309,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $142.86
  • 2 Days on Market
  • MLS # : 14518491
  • Updated Date : 02/13/2021 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,163 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Come see this sleek and stylish barely-lived in DR Horton home! Located in fast growing Melissa this desirable subdivision has easy access to 121 & 75. Enjoy the model home floor plan with open concept living. Extensive low-maintenance tile flooring is featured along with carpet in the bedrooms. The living room has a gas log cast stone FP and overlooks the yard. Stunning black cabinetry highlights the kitchen with granite counters, stone BS, large island with seating & SS Frigidaire appliances including a gas cook-top. The primary BR & bath offer dual sinks, sep shower with glass tile accent & shelving in the closet for linens. Spacious & versatile secondary bedrooms. And the splash pad is just down the street!

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
 

$278,100$339,900$309,000

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 -$1,073
Property Tax -$627
Property Insurance -$152
HOA -$38
Property Management Fees -$99
CASH FLOW
-$160

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.

$309,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.59%

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

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$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,958

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
  • 3808 Kendall 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
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 #: 14518491
Last Updated: 02/13/2021
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