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4305 Oak Bluff Road Melissa, TX 75454

4 Beds 4 Baths 2,555 sqft Built 2012

INVESTimate

$325,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$348,498  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $127.20
  • 1 Days on Market
  • MLS # : 14420424
  • Updated Date : 08/26/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,555 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Stunning move-in ready home in acclaimed Melissa ISD! This Stonehollow home boasts custom updates through out featuring fresh paint, designer light fixtures, soaring ceilings and an open floor plan. Desirable home office and 3.5 baths. Enjoy cooking in the spacious kitchen with abundant cabinetry, island with seating, granite counter tops and ss appliances. Relax in the master suite with double vanities, soaker tub and spacious master closet. Upstairs you have plenty of space with 3 bedrooms and 2 full baths and a second living area. Enjoy the extended outdoor covered patio perfect for bbqs and time with family! Community offers 2 swimming pools, 24hr fitness center, fishing ponds trails and parks. Owner agent

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,719$2,101$1,910

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,199
Property Tax -$659
Property Insurance -$175
HOA -$47
Property Management Fees -$99
CASH FLOW
-$269

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.

$325,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.59%

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) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9103$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 4305 Oak Bluff Road Melissa, TX 2
    • 4 beds 4 baths ∙ 2,555 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,555 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.75
    •  
  • 4204 Oak Bluff Drive Melissa, TX 1
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2013
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.71
    •  
  • 4300 Milrany Lane Melissa, TX 3
    • 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4412 Oak Bluff Drive Melissa, TX 4
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2014
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 4218 Cherry Lane Melissa, TX 5
    • 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 2016
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Colin Conn
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420424
Last Updated: 08/26/2020
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