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Palo Pinto 76449
480 Melbourne Trail
$1,003,000
● House - Off Market

480 Melbourne Trail

Possum Kingdom Lake, TX 76449
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
3,595 Ft²
$1,143,003
RealtyHop Estimate
4.00%
Since Oct 1, 2022
National-US
Primary Model

About This Property

FLASH SALE SPECIAL PRICE THRU JULY 10, 2022 $1,099,000.00 in The Cliffs Resort! New Modern Masterpiece boasting Cutting Edge design with comfortable living in mind. Upper Master suite with sleek private bath, separate tub and shower. Upper Laundry for convenience.  This New construction  features many standard upgrades, including party pool and outdoor living space with all of the luxuries you would expect in a full time residence or weekend escape. Rooftop observation deck for taking in the stars and blue lake views of Neeleys Slough on beautiful Possum Kingdom. All within the amenity rich Cliffs Resort. Nearly to completion - don't wait this gorgeous property comes complete with all the amenities the Cliffs resort has to offer!
Unit Size
3,595 Ft²
Days on Market
-
Land Size
0.33 acres
Price per sqft
$306
Property Type
House
Property Taxes
$54
HOA Dues
$108
Year Built
2021

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 3 years ago (NTREIS #14676784)

Price History

Date / Event Date Event Price
Sep 12, 2022 Sold
Premium
Sold
Sep 27, 2021 Listed by Coldwell Banker Realty $1,099,000
Listed by Coldwell Banker Realty

Property Highlights

Air Conditioning
Fireplace
Garage

Building Info

Overview

    General

  • Year Built: 2021
  • Effective Year Built: 2021
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 440
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,462
  • Lot Size Frontage Feet: 0
  • Total Building Area: 3,648
  • Gross Building Area: 3,648
  • Building Area: 3,648
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 3,648
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CLIFFS PHASE VIII
  • Land Acres: 0000000332
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • Legal Description 1: CLIFFS PHASE VIII LOT 190 G#C0250-08-00000-190-00-0

Neighborhood

  • School District Name: Palo Pinto Independent School District
  • School Tax School District: PPI HPD ESD1
  • Census Tract: 000100

Geography

  • Account Number: R000013500
  • Subdivision Phase Number: 8
  • Parcel: 110252695
  • Lot: 190
  • Municipality: GRAFORD
  • Latitude: 32.852
  • Longitude: -98.4502

    Address

  • Full Address: 480 Melbourne Trl
  • Address - House Number: 480
  • Address - Street Name: Melbourne
  • Address - Suffix Type: Trl
  • State: TX
  • City Name: Graford
  • Zip Code: 76449

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $896,275
  • Tax Rate Code Area: CAD 182 PP

    Appraisal Valuation

  • Standard Deviation: 0.4536
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 9
  • Final Value: 501,009
  • High Value: 728,279
  • Low Value: 273,738

    Market Valuation

  • Market Total Value: $661,050
  • Market Land Value: $33,030
  • Market Improvement Value: $628,020

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $661,050
  • Assessed Land Value: $33,030
  • Assessed Improvements Value: $628,020

    Sales

  • Current Sale Contract Date: Sep 08, 2022
  • Current Sale Recording Date: Sep 13, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 6534
  • Previous Sale Recording Date: Mar 02, 2022
  • Previous Sale Contract Date: Feb 28, 2022
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: ADJ

    Previous Mortgages

  • Previous Mortgage Lender:
    Premium
  • Previous Mortgage Transaction Date:
    Premium
  • Previous Mortgage Loan Type:
    Premium
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Palo Pinto

Stats & Trends

Median Asking:

$399,000

Sale Price/ft²

$221

Below Asking

0.03%

Average Days on Market

87

Average Home Size

2278 ft²

Average Home Age

-

Currently For Sale

293 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

Click here to view more rentals in the neighborhood.
NTREIS

Listed by: Valerie Klapper, Coldwell Banker Realty
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 14676784
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 480 Melbourne Trail built and last sold?
The property at 480 Melbourne Trail was built in 2021 and last sold on Sep 8, 2022 for $1,067,192.
How much is this home worth?
The estimated value of the home located at 480 Melbourne Trail is $0.
What are some comparable homes to 480 Melbourne Trail?
There are currently no comparable homes to 480 Melbourne Trail.
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