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4020 Mockingbird Lane Melissa, TX 75454

4 Beds 2 Baths 2,044 sqft Built 2020

$325,675

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $159.33
  • 3 Days on Market
  • MLS # : 14475025
  • Updated Date : 11/20/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14475025 - Built by Kindred Homes - February completion! ~ The Bluebonnet Plan to see that it Showcases a Beautiful & Modern front door, Large and Amazing Open floor plan with numerous large windows to Maximize the Natural Lighting. You will enjoy the Granite Counter-tops and the Wood floors for durability and easy cleaning. This home has 4 bedrooms and 2 baths with a Study. The Master Suite has a High Ceiling and an Enormous Walk-in Master Closet it also backs to a wonderful Private back yard to enjoy your Extended Covered Patio. This home will go quickly so Come see this home Today!!!

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
 

$293,108$358,243$325,675

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,202
Property Tax -$661
Property Insurance -$145
HOA -$33
Property Management Fees -$99
CASH FLOW
-$129

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.

$325,675

PROJECTED PRICE

$2,010

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

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

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$88,304

INVESTMENT

$88,304

Down Payment
$81,419
Rehab Estimate
$2,000
Closing Costs
$4,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,202

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,419
Loan Amount $244,256
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,962

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8953$2,0004$2,0105$2,100
$2,100
RENT COMPS ANALYSIS
  • 4020 Mockingbird Lane Melissa, TX 4
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.98
    •  
  • 3814 Spring Run Lane Melissa, TX 1
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2014
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 4309 Cherry Lane Melissa, TX 2
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2017
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 4222 Cherry Lane Melissa, TX 3
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2016
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 4201 Mimosa Drive Melissa, TX 5
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2017
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
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 #: 14475025
Last Updated: 11/20/2020
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