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$376,000

NAL Estimated Property Value

3121 Melrose Dr, McKinney, TX, 75070

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,447 Sq Ft
price_per_sqft$162.44 / sqft
Year BuiltBuilt in 1999

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2.5Bathrooms Full 2.5
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
AppliancesDishwasher, Disposal, Electric Range, Vented Exhaust Fan
FlooringCarpet, Wood, Vinyl

Exterior

Exterior FeaturesRain Gutters, Storage

Building Information

Year Built1999
Stories2
Garage Spaces1

Land Information

APNR-3951-008-0290-1
Lot Number29
SubdivisionLegends Of Mckinney Phase Iii (Cmc)
Land UseResidential
Legal DescriptionLEGENDS OF MCKINNEY PHASE III (CMC), BLK 8, LOT 29
Census Tract030549
Assessed Land Value$95,000
Assessed Improvement Value$260,192
Assessment Year2025

About this property

From the drive up throughout its entirety, you are going to love this home, Centex built with open floorplan and space galore. This 3-2.5-2 home comes equipped with large combined formals, a sizable family living and a bonus space on the second level to accomodate your personal needs. The home has received meticulous care and maintenance as you can see with the following improvements & updates: HVAC system installed 6-2024 (outdoor compressor & inside air handler, 10 year warranty), Second level flooring installed 3-2025, Interior painting 3-2025, Whirlpool electric oven with glass top & dual zone heating elements installed 2-2025, Water Heater replaced 2021, Roof replaced with new ventilation and gutters 3-2017, Hardie Board Siding replaced on entire home 3-2017, All south side windows and two east side windows replace 3-2017, 14 x 10 Shed installed with raised foundation, Extended patio with pavers, 6 x 12 Inground Storm Shelter just outside the back door, west side of patio with refabricated quarter inch steel structure with bench seating and ventilation, Attractive glass shower doors to secondary bath, Closet Organizers in all bedroom closets and in the laundry-pantry room, Vulcan Autosonic Mark 60 fire alarms throughout home (heat activated, no batteries required), this is in addition to the standard smoke detectors throughout the home. Home nestled quietly in central McKinney close to all grade levels, easy access to freeways and shopping galore. Wire shelving and wall mounted gray cabinetry in garage convey. Formal Dining room furniture (oak table, eight chairs, matching Oak China cabinet and server) are negotiable.

Investor Tools

Property Icon
$376,000
Estimated Property Value
$307,437Estimated Mortgage Balance
$68,563Estimated Equity
18% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,385 /month
Positive
Cash Flow Estimate:
$795 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$591/month
$135/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,217
$355,192
2025
$95,000
$260,192
$355,192
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,217
$355,192

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
American Bank Of Commerce
Conventional
$312,000
No
First
Jul 17, 2025
Aug 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$307,437
$68,563
18%
82%
$1,871/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,440/mo
$2,006/mo
+$434/mo
7.8%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: McKinney

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3121 Melrose Dr | Property Details | No Agent List