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4211 Oak Bluff Road Melissa, TX 75454

4 Beds 2 Baths 2,086 sqft Built 2012

$280,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $134.23
  • 2 Days on Market
  • MLS # : 14492935
  • Updated Date : 01/02/2021 at 10:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

NEW YEAR, NEW HOME! This 4 bedroom or 3 and a STUDY will be a great home for remote employees. Owner's suite is separate from the study and other bedrooms. Kitchen is large with tons of cabinets and granite counter tops. SS appliances-fridge is negotiable! Bronze fixtures & lighting adds a richness. NEW carpet installed next week in the owner suite and BONUS room. Main areas have larger tile in main areas perfect for pets. Beautiful upgraded front door with keypad lock for added security. 2 in blinds throughout. Two Amenities Center one includes 24 hr fitness workout room & putting range, playground, pool, and community center. One owner who took great care of this gorgeous home! Make it your new home in 2021!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,033
Property Tax -$568
Property Insurance -$148
HOA -$63
Property Management Fees -$99
CASH FLOW
-$81

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.

$280,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8303$1,8954$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 4211 Oak Bluff Road Melissa, TX 2
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.88
    •  
  • 4208 Ridgewood Road Melissa, TX 1
    • 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 2006
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.85
    •  
  • 4405 Sycamore Road Melissa, TX 3
    • 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2007
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 4222 Cherry Lane Melissa, TX 4
    • 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
    •  
  • 4310 Magnolia Drive Melissa, TX 5
    • 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2014
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
PROPERTY LISTING DETAILS
Toni Evans Morrow
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492935
Last Updated: 01/02/2021
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