2605 Melrose Drive
About This Property
This property qualifies for an exclusive 4.75% rate buy-down, helping you secure affordable monthly payments and increase your buying power. Fully equipped with energy-efficient solar panels, this home comes with zero electricity bill - giving you more room in your monthly budget without sacrificing comfort or style.This spacious single-story home offers 4 bedrooms, 3 full bathrooms, and over 2,300 square feet - including a guest suite, ideal for multigenerational living or hosting long-term guests. The gourmet kitchen features a gas-burning stove and generous counter space, designed to meet the needs of both everyday living and elevated entertaining.Located in the highly ranked Mansfield ISD, you'll also enjoy quick access to Hwy 287, I-20, and I-35, putting you minutes from both Dallas and Fort Worth. Washer, dryer, and refrigerator are included - and residents in this community enjoy walking trails, ponds, parks, and a resort-style pool.Once this home hits the market, it won't last long. Reach out today for a private showing or more details.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 1, 2025 | Sold | ||
| Sold | |||
| Aug 27, 2025 | In contract | - | |
| In contract | |||
| Aug 18, 2025 | Price Decreased |
$460,000
↓ $15K
(3.2%) | |
| Price Decreased | |||
| Jul 23, 2025 | Listed by Elevation Realty Group Inc | $475,000 | |
| Listed by Elevation Realty Group Inc | |||
| Jul 1, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017