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

3910 Bethesda Way Melissa, TX 75454

4 Beds 3 Baths 3,050 sqft Built 2020

$489,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $160.33
  • 2 Days on Market
  • MLS # : 14475656
  • Updated Date : 11/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,050 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14475656 - Built by Highland Homes - June completion! ~ This open 1 story floor plan is fantastic for entertaining or spending time with family. The kitchen features a large island with lots of counter space and cabinetry for prep and storage. Stainless steel built in appliances with double oven and 5 burner cooktop. Gas fireplace in keeping room. Beautiful extended master bedroom with luxurious free standing tub.

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
 

$440,100$537,900$489,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,804
Property Tax -$992
Property Insurance -$203
HOA -$50
Property Management Fees -$99
CASH FLOW
-$678

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$489,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.51%

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) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,585

INVESTMENT

$131,585

Down Payment
$122,250
Rehab Estimate
$2,000
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$54

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,471

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4504$2,4705$2,700
$2,700
RENT COMPS ANALYSIS
  • 3910 Bethesda Way Melissa, TX 4
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.81
    •  
  • 3113 Spanish Oak Trail Melissa, TX 1
    • 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,887 Sqft ∙ Built 2007
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 2708 Westpoint Drive Melissa, TX 2
    • 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 2706 Katie Trail Melissa, TX 3
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2004
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
  • 3212 Timberline Drive Melissa, TX 5
    • 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2018
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475656
Last Updated: 11/21/2020
BESbswy