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$410,890

429 Melrose Dr, Richardson, TX, 75080

Off MarketInfo
Beds4 Beds
Baths3 Bath
Baths1,601 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$281.07 / sqft
Year BuiltBuilt in 1963

Property Lead Type:

BankruptcyPre-ForeclosureOff-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Bathrooms Half 1Bathrooms Half 1
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Gas Range, Gas Water Heater, Microwave
FlooringCarpet, Tile, Vinyl

Exterior

Private PoolPrivate Pool
Exterior FeaturesBarbecue, Dog Run, Fire Pit, Rain Gutters, Lighting, Private Yard, Storage

Building Information

Year Built1963
Stories1
Roof Type105

Land Information

APN42121500060090000
SubdivisionNorthway Acres
Land UseResidential
Legal DescriptionNORTHWAY ACRES 2 BLK 6 LT 9 INT202300029863 DD02152023 CO-DC 1215000600900 3CR12150006
Census Tract019211
Assessment Year2025

About this property

Perfectly situated near Hwy 75, PGBT, and UTD, this one-of-a-kind home blends modern design with eclectic charm. Thoughtfully updated with a focus on custom finishes, this unique property is ideal for buyers seeking something truly special. The spacious primary suite offers room for all your essentials plus a cozy sitting area, and features a stunning ensuite bath with sleek modern fixtures and designer tilework. Three additional bedrooms, a full bath, and a half bath are separated from the primary suite by the open-concept living and dining areas, which is perfect for both everyday living and entertaining. The bright kitchen is a standout with soft-close shaker cabinets, meganite & butcher block countertops, luxury wallpaper accents, and a walk-in pantry + laundry combo tucked neatly behind a pocket door for added convenience. Enjoy both a generous front and backyard, complete with a bonus storage building and brand-new landscaping. Enjoy the fun backyard with pergola and sitting area, grill, above ground pool and putting green. Fresh interior and exterior paint round out this move-in ready home. If you're looking for something not so ordinary, this is the perfect home for you. With a convenient location and award winning Richardson ISD schools, what are you waiting for? **This home is currently used as a profitable short-term rental - primely located with luxury finishes, this one is ready for immediate cashflow!**

Investor Tools

Property Icon
$410,890
Estimated Property Value
$299,625Estimated Mortgage Balance
$129,213Estimated Equity
27% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,700 /month
Positive
Cash Flow Estimate:
$900 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$918/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$8,959
$410,890
2025
N/A
N/A
$410,890
No

Tax History

Year
Tax Paid
Assessed Value
2024
$8,959
$410,890

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Velocity Commercial Capital Llc
Commercial
$299,625
No
First
Feb 15, 2023
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$281,677
$129,213
31%
69%
$1,797/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,040/mo
$1,797/mo
+$243/mo
6.0%

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: Richardson

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429 Melrose Dr | Property Details | No Agent List