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4032 Sparrow Trail Melissa, TX 75454

3 Beds 2 Baths 1,803 sqft Built 2021

$305,990

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $169.71
  • 2 Days on Market
  • MLS # : 14501345
  • Updated Date : 01/16/2021 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Livingwell Properties

Listing Agent's Description

Ready in March or April! This beautiful 1 story home offers The Emory floor plan with 3 bedrooms, 2 bathrooms, plus study. The kitchen showcases stainless steel appliances, 42 in cabinets, level 2 granite counters, spacious eat in breakfast nook, & upgraded tile floors. The oversized great room & open floor plan is a great space for entertaining. Retreat to the master suite and enjoy an extended owner's shower & dual sinks. The home includes a full sod and landscape package, sprinkler system and 6 foot stained fence. Home boasts a FREE smart home packages including energy star appliances, programmable thermostats, Wi-Fi enabled front door, & a video doorbell camera. Zoned for nationally recognized Melissa ISD.

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
 

$275,391$336,589$305,990

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,063
Property Tax -$621
Property Insurance -$131
HOA -$33
Property Management Fees -$99
CASH FLOW
-$96

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.

$305,990

PROJECTED PRICE

$1,850

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$83,087

INVESTMENT

$83,087

Down Payment
$76,498
Rehab Estimate
$2,000
Closing Costs
$4,590

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,063

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,498
Loan Amount $229,493
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9504$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 4032 Sparrow Trail Melissa, TX 2
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 4103 Mockingbird Lane Melissa, TX 1
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2020
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 3304 Blue Jay Lane Melissa, TX 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
  • 4203 Spruce Road Melissa, TX 4
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2013
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.07
    •  
  • 4302 Spruce Road Melissa, TX 5
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2013
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.05
    •  
PROPERTY LISTING DETAILS
Deb Wells
Livingwell Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501345
Last Updated: 01/16/2021
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