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4403 Mimosa Drive 
Melissa, TX
75454
4 Beds 4 Baths 3,415 sqft
Built 2016
INVESTimate
$395,200
List Price
$110,478
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PROPERTY INFO
FACTS
- Built In 2016
- Price/Sqft : $115.72
- 1 Days on Market
- MLS # : 14420597
- Updated Date : 08/26/2020 at 03:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,415 sqft
- Baths : 3 full , 1 half
Listing Agent
Sonya Smith Real Estate Group
Listing Agent's Description
Beautiful Stone Hollow Home in the desirable North Creek Estates neighborhood. The home offers real hand scraped hardwood floors in the entry, kitchen, breakfast nook, formal dining room and first floor family room. Features for this home are granite countertops, double ovens, travertine backsplash, 42in maple cabinets, full stone fireplace, oversized master shower, oil rubbed bronze fixtures, 5.25in baseboards, finished garage with insulated garage door. Owners will leave the media room projector, screen, sound bar, sub woofer and small fridge. Negotiable, side by side refrigerator and freezer, washer and dryer. Owners will either replace carpet or offer a credit for replacement.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75454
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,460 |
| EXPENSES | Loan Payment | -$1,458 |
| Property Tax | -$802 | |
| Property Insurance | -$225 | |
| HOA | -$47 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$170
|
||
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.
$395,200
PROJECTED PRICE
$2,460
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| 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
INVESTMENT
$110,478
LOAN DETAILS
$1,458
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $98,800 |
| Loan Amount | $296,400 |
2.42
YEARS SAVED
$8,615
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,460
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,621
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
4403 Mimosa Drive Melissa, TX 3
- 4 beds 4 baths ∙ 3,415 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,415 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $2,460
- $0.72
-
2313 Independence Drive Melissa, TX 1
- 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2015
LEASED 07/22/19- Rent
- Rent Per SQFT
- $2,350
- $0.75
-
2708 Westpoint Drive Melissa, TX 2
- 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,118 Sqft ∙ Built 2011
LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,400
- $0.77
-
3303 Robin Trail Melissa, TX 4
- 5 beds 5 baths ∙ 3,637 Sqft ∙ Built 2015 5 beds 5 baths ∙ 3,637 Sqft ∙ Built 2015
LEASED 12/06/19- Rent
- Rent Per SQFT
- $2,695
- $0.74
-
3416 Sequoia Lane Melissa, TX 5
- 4 beds 4 baths ∙ 3,441 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,441 Sqft ∙ Built 2015
LEASED 09/12/19- Rent
- Rent Per SQFT
- $2,800
- $0.81
PROPERTY LISTING DETAILS
Sonya Smith Real Estate Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14420597
Last Updated: 08/26/2020
