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5 Shady Bend Drive Melissa, TX 75454

4 Beds 3 Baths 3,567 sqft Built 2015

$700,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $196.24
  • 3 Days on Market
  • MLS # : 14509152
  • Updated Date : 02/12/2021 at 23:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,567 sqft
  • Baths : 2 full , 1 half
Listing Agent

Phillips Realty Group & Assoc

Listing Agent's Description

Stunning custom home situated on nearly 2 acres in the gated community of Country Ridge! Casual elegance defines this tranquil and spacious home with more upgrades than we can mention! Gorgeous kitchen features built-in fridge, granite countertops, farm sink, island, & 2 pantries! Open concept living area has exposed beams, built-ins, gas fireplace, and wet bar. Oversized owner's retreat with plenty of natural light, vaulted ceiling, patio access, & spa-like bath. Generous sized bedrooms, jack & jill bath, plus an executive home office. Two Texas-sized garages w room for 3 cars EACH. Private backyard oasis w outdoor kitchen & living, stone FP, crystal clear pool & spa. Exemplary Melissa ISD!

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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,431
Property Tax -$1,420
Property Insurance -$233
HOA -$70
Property Management Fees -$99
CASH FLOW
-$1,504

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.

$700,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,747

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,750
$2,750
RENT COMPS ANALYSIS
  • 5 Shady Bend Drive Melissa, TX 2
    • 4 beds 3 baths ∙ 3,567 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,567 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.77
    •  
  • 2903 Madison Drive Melissa, TX 1
    • 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,264 Sqft ∙ Built 2004
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kristin Barnett
Phillips Realty Group & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509152
Last Updated: 02/12/2021
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