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$480,256

NAL Estimated Property Value

3307 Herron Drive, Melissa, TX, 75454

Off MarketInfo
Beds4 Beds
Baths2 Bath
Baths2,430 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$128.4 / sqft
Year BuiltBuilt in 2016

Property Lead Type:

Off-Market ListHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
AppliancesConvection Oven, Dishwasher, Disposal, Electric Cooktop, Electric Oven, Microwave, Plumbed For Ice Maker
FlooringCeramic Tile, Wood

Exterior

Exterior FeaturesRain Gutters, Lighting, Private Yard
Lot Size6,600 sqft

Building Information

Year Built2016
Stories1
Garage Spaces2

Land Information

APNR-10856-00C-0040-1
Lot Number4
SubdivisionMagnolia Ridge Phase 1 (Cml)
Land UseResidential
Legal DescriptionMAGNOLIA RIDGE PHASE 1 (CML), BLK C, LOT 4
Census Tract030207
Assessed Land Value$120,000
Assessed Improvement Value$360,256
Assessment Year2025

About this property

Both Gorgeous and Immaculate, this stunning Sumeer Built Home features 4 bedrooms PLUS Study with 8 ft French Doors! Sleek wood flooring greets you as you enter the home with elegant tile in all the wet areas. The great room features an impressive corner fireplace. The open concept with Chef’s kitchen has SS appliances that include a convection oven, granite countertops with island, Butler’s pantry and a HUGE walk-in pantry. The master retreat has a large master closet and an inviting master bath retreat with separate vanities and shower. Storage galore, open and bright, this home has such lovely amenities and perfect for entertaining! The inviting covered patio and backyard complete this amazing home!

Investor Tools

Property Icon
$480,256
Estimated Property Value
$231,363Estimated Mortgage Balance
$248,893Estimated Equity
51% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,882 /month
Positive
Cash Flow Estimate:
$961 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$747/month
$390/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,561
$480,256
2025
$120,000
$360,256
$480,256
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,561
$480,256

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cmg Mortgage Inc
Conventional
$260,950
No
First
Jul 7, 2020
Aug 2050

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$231,363
$248,893
51%
48%
$1,565/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,860/mo
$1,955/mo
+$1,905/mo
9.6%

Learn About the Market: Opportunity in Texas

Local Market Pages
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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: Melissa

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3307 Herron Drive | Property Details | No Agent List