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8006 Melrose Street White Settlement, TX 76108

4 Beds 3 Baths 1,772 sqft Built 2020

$279,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.45
  • 4 Days on Market
  • MLS # : 14480807
  • Updated Date : 12/04/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,772 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

immaculate two story modern farmhouse style home. With a spacious porch entry perfect for personalization, the modern wooden door leads you into ample floor-plan. The lower level is accompanied with the spacious master bedroom including dual sinks, a deep soaking tub, a chic shower, and a gracious walk- in closet. The second bedroom or potential office is versatile for your needs, and includes a walk-in closet. The modern kitchen was spared no expense. With custom cabinets, and an elegant granite choice. Two spacious bedrooms occupy the upper level, as well as a second full bath.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $66k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7931734

* 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
Liberty Elementary School Primary Regular 493 33 8
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

Liberty Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 33
8
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer Middle School

  • Education Level: High
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,029
Property Tax -$669
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
-$407

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.

$279,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$75,935

INVESTMENT

$75,935

Down Payment
$69,750
Rehab Estimate
$2,000
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,6004$1,7505$1,790
$1,790
RENT COMPS ANALYSIS
  • 8006 Melrose Street White Settlement, TX 1
    • 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.86
    •  
  • 413 Meadow Park Drive White Settlement, TX 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2020
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 121 Wilson Cliff Drive White Settlement, TX 3
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2020
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 8427 Whitney White Settlement, TX 4
    • 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2018
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 8425 Whitney Drive White Settlement, TX 5
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.00
    •  
PROPERTY LISTING DETAILS
Adriana Blanco
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480807
Last Updated: 12/04/2020
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