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$4,500,000

5215 COUNTY ROAD 277, Melissa, TX, 75454

On MarketInfo

Highlights

Interior

Bedrooms —Bedrooms —
Bathrooms —Bathrooms —

Exterior

Exterior FeaturesStorage, Other
Lot Size10 acres

Land Information

APNR-6294-003-0760-1
Lot Number76
SubdivisionJohn Emberson Survey
Land UseAgriculture / Farming
Legal DescriptionABS A0294 JOHN EMBERSON SURVEY, BLK 3, TRACT 76, ACRES 10.0000
Census Tract030202
Assessed Land Value$700,000
Assessment Year2025

About this property

29.31 COMBINED TOTAL ACRES located in Melissa Tx, Collin County on CR 277 aka Telephone Rd. This property is unzoned and has a combination of level building area for Development of Single Family homes or a Multi Family Complex and offers seclusion by the wooded area that backs up to the North Fork of the Trinity River. Exponential growth in Melissa Tx, combined with the beautiful custom homes that surround this area make the investment in North Texas worth while. This property has 3 individual, yet separate owners, ALL 3 must contract together and close together. WILL NOT sell individually. Tract 73 has a well in place, will need well pump and pumphouse. Covenants state an HOA however it is not active or enforced. Three tracts being Tract 76 is R629400307601, Tract 16 is R629400301601 & Tract 73 is R629400307301 on the CAD. Property is Located approx 1 mile West of Hwy 75 from the Melissa Rd exit and approx 2 miles from Buc-ee's. Combo lock at pipe gated entrance. See showing instructions. Address are as follows 5215 CR 277 & 5285 CR 277 with 3rd tract being TBD.

Investor Tools

$45,649Estimated Mortgage Balance
$654,351Estimated Equity
93% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$27,000 /month
Positive
Cash Flow Estimate:
$9,000 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$294/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$32
$700,000
2025
$700,000
N/A
$700,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$32
$700,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Heritage Land Bank Aca
Open End Mortgage / Open End With Future Advance Clause
$71,900
No
First
Jan 10, 2011
Jan 2031

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$45,649
$654,351
93%
7%
$432/mo

City: Melissa

5215 COUNTY ROAD 277 | Property Details | No Agent List