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4010 Chesapeake Melissa, TX 75454

4 Beds 2 Baths 1,960 sqft Built 2020

INVESTimate

$284,899

List Price

$2,000

$1,800 - $2,200

Rent Est.

$305,497  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $145.36
  • 3 Days on Market
  • MLS # : 14419736
  • Updated Date : 08/25/2020 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14419736 - Built by Altura Homes - November completion! ~ Spacious 4 bedroom 2 bath home with an open concept floor plan.. Cast stone fireplace in the family room and a covered patio. This home is energy efficient with a tankless water heater, radiant barrier decking and vinyl windows. Comes with full sod, full sprinkler system and full gutters. Vinyl plank flooring in all the common areas and upgraded granite in the kitchen. Dark cabinets throughout the whole house and upgraded carpet in all the bedrooms.

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
 

$256,409$313,389$284,899

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,051
Property Tax -$578
Property Insurance -$140
HOA -$30
Property Management Fees -$99
CASH FLOW
$102

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.

$284,899

PROJECTED PRICE

$2,000

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,498

INVESTMENT

$77,498

Down Payment
$71,225
Rehab Estimate
$2,000
Closing Costs
$4,273

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,674
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$25,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$1,9954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 4010 Chesapeake Melissa, TX 5
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
  • 4206 Cherry Lane Melissa, TX 1
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2017
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
  • 2905 Winchester Avenue Melissa, TX 2
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 2018
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 4302 Mimosa Lane Melissa, TX 3
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2016
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.03
    •  
  • 4222 Cherry Lane Melissa, TX 4
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2016
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419736
Last Updated: 08/25/2020
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