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4307 Cordata Drive Melissa, TX 75454

4 Beds 3 Baths 2,687 sqft Built 2020

$343,628

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $127.89
  • 6 Days on Market
  • MLS # : 14489652
  • Updated Date : 12/22/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,687 sqft
  • Baths : 3 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14489652 - Built by Impression Homes - February completion! ~ Beautiful Impression Homes Phoenix plan with brick and stone elevation in North Creek! This two-story home sits on an oversized lot and backs up to a greenbelt. Great open-concept, two bedrooms on main floor, plus another two bedrooms and game-room on second floor. Home features wood looking tile throughout entry, kitchen and family room. White kitchen cabinets, stainless steel appliances, Granite counter-tops and a walk-in pantry. Spacious family room. The master bath features dual sinks, garden tub, separate shower and walk-in closet. This home offers a great covered patio and 2-car garage.

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$309,265$377,991$343,628

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,268
Property Tax -$697
Property Insurance -$182
HOA -$47
Property Management Fees -$99
CASH FLOW
-$263

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.

$343,628

PROJECTED PRICE

$2,030

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,061

INVESTMENT

$93,061

Down Payment
$85,907
Rehab Estimate
$2,000
Closing Costs
$5,154

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,907
Loan Amount $257,721
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$2,0304$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 4307 Cordata Drive Melissa, TX 3
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.76
    •  
  • 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
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.71
    •  
  • 3707 Applewood Melissa, TX 2
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2006
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 4300 Milrany Lane Melissa, TX 4
    • 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,591 Sqft ∙ Built 2015
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 4412 Oak Bluff Drive Melissa, TX 5
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2014
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Imp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489652
Last Updated: 12/22/2020
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