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

4204 Milrany Lane Melissa, TX 75454

5 Beds 3 Baths 2,200 sqft Built 2018

$449,990

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $204.54
  • 3 Days on Market
  • MLS # : 14474870
  • Updated Date : 11/20/2020 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Gorgeous Gehan Model Home located in the desirable community of North Creek. Award Winning Juniper Floor Plan with 5 bedrooms, 3 full baths, over sized covered patio and 3 car garage. This Spacious 1-story offers split bedrooms, bay window in master, upgraded kitchen with large island, built-in oven & microwave, vent hood, upgraded flooring, elevation, stone, and many more designer features.

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
 

$404,991$494,989$449,990

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,660
Property Tax -$913
Property Insurance -$154
HOA -$47
Property Management Fees -$99
CASH FLOW
-$773

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.

$449,990

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$124,997

INVESTMENT

$124,997

Down Payment
$112,498
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,498
Loan Amount $337,493
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0953$2,1004$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 4204 Milrany Lane Melissa, TX 4
    • 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 4310 Magnolia Drive Melissa, TX 1
    • 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
  • 2813 Mesquite Avenue Melissa, TX 2
    • 5 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
  • 4201 Mimosa Drive Melissa, TX 3
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2017
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 3102 Winchester Melissa, TX 5
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.99
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474870
Last Updated: 11/20/2020
BESbswy