1211 Freestone Dr · Melissa, TX 75454

$345,000

4 bd · 2.0 ba · 1,628 sqft · SingleFamily public records · 51 Days on market

Built 2019 5,706 sqft lot $212/sqft · 13% below area Est $397k · 13% under $38/mo HOA · 2% of rent ↓ 9% since listing

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +13.4/15.0
• Cash flow +6.4/30.0
• Schools +5.8/10.0
• Livability +3.4/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Rent growth +2.1/5.0
• DSCR +0.7/10.0

Listing remarks MLS

Don't miss this lovely one story home in the desirable Villages of Melissa community! Open kitchen boasts granite counters, SS appliances, gas cooktop, and large breakfast bar with ample counter space and room for barstools! Kitchen opens to living room making it great for entertaining! Gas fireplace with beautiful fireplace surround adds character and coziness to living space. Beautiful bay window allows added space in front bedroom. Study with french doors complete WITH CLOSET can be used as 4th bedroom. Spacious master suite features dual sinks, separate tub and shower, and large walk-in closet. Step outside and relax on the large covered patio complete with ceiling fan that overlooks the good sized backyard! Community offers multiple amenities for your enjoyment including, pool, splash pad, playground and walking paths!

Key facts

• Gas cooktop
• Cozy gas fireplace
• Open-concept kitchen

Tags

• OPEN-CONCEPT KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• GAS COOKTOP
• BREAKFAST BAR
• COZY GAS FIREPLACE

Property features AI

Finance

• Other: Directions available to property; Listing is active and for sale
• Financial info: Loan treated as clear; No second mortgage
• HOA & community: Mandatory HOA; HOA management by Assured Management Inc; HOA fee $460 annually (management fees included)

Exterior

• Parking: Attached 2-car garage (approximately 20 ft x 20 ft); 2 covered parking spaces; 2-car single door configuration
• Security: No specific security features listed
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; One story; Residential property, preowned (built in 2019); Property is not attached
• Construction: Brick construction; Built in 2019
• Exterior features: Lot in Villages Of Melissa Phase 4; Lot under 0.5 acre; Subdivision restrictions: no divide, no livestock, no smoking, no sublease, no waterbeds, pet restrictions

Interior

• Kitchen: Dishwasher; Garbage disposal; Electric oven; Gas cooktop; Microwave
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom on the main level
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Granite counters; Pantry; High-speed internet available; Five total rooms; One living area; One dining area; Gas-log fireplace
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-599 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (28.0% below list).
• Recommended offer: $239k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 2.9% in Melissa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#477 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Melissa ISD (suburban): math 65% / reading 65% proficiency, ranked #24 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harry Mckillop El (math 74% / reading 68%, grade A-, #128 of 4,322 statewide, top 3%, 955 students, 18% FRL); Melissa Middle (math 62% / reading 63%, grade B+, #128 of 1,662 statewide, top 8%, 1,232 students, 0% FRL); Melissa H S (math 69% / reading 76%, grade B+, #94 of 1,632 statewide, top 6%, 1,485 students, 0% FRL) — zoned schools average 6% FRL vs 24% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.4%/yr); 511 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,100 (30.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.72% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.45%
• DSCR: 0.67
• GRM: 11.6

CMA / ARV

• ARV (median comp): $397,162
• List price: $345,000
• Delta: -10.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3826 Mason Dr	0.08mi	3/2.0 (-1)	1,679 (+3%)	10mo	$349,000	$208	77
3712 Brazos St	0.25mi	3/2.0 (-1)	1,560 (-4%)	5mo	$340,000	$218	72
3822 Brazos St	0.11mi	3/2.0 (-1)	1,526 (-6%)	9mo	$350,000	$229	72
3802 Mason Dr	0.19mi	3/2.0 (-1)	1,560 (-4%)	21mo	$369,900	$237	62
3403 Van Zandt Rd	0.58mi	3/2.0 (-1)	1,532 (-6%)	22mo	$359,000	$234	39
3510 Founders Way	0.47mi	3/2.0 (-1)	1,860 (+14%)	12mo	$365,000	$196	39
3312 Founders Way	0.60mi	3/2.0 (-1)	1,866 (+15%)	19mo	$375,000	$201	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -32.9%
• Equity multiple: -0.05×
• Total profit: $-101,223
• Equity at exit: $51,441

10-year hold

• IRR: -63.8%
• Equity multiple: -0.71×
• Total profit: $-164,859
• Equity at exit: $29,829

Cash invested: $96,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75454

• Home prices YoY: -1.9%
• Rents YoY: -1.4%
• Active inventory: 511
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,486 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$572 /mo · $6,865/yr
• Insurance: −$144
• HOA: −$38
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-599

Break-even live

Break-even rent $3,244

Max offer price $239,100

Occupancy floor —

Sensitivity live

Price	-10% $-404	-5% $-502	+0% $-599	+5% $-697	+10% $-795
Rent	-10% $-796	-5% $-698	+0% $-599	+5% $-501	+10% $-403
Rate	-1.0pp $-426	-0.5pp $-512	base $-599	+0.5pp $-689	+1.0pp $-780

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3812 Mason Dr Melissa, TX	3.0	2.0	1560	$2,200	$1.41	46d	1	0.16mi
1506 Ironwood Way Melissa, TX	4.0	3.0	2059	$2,500	$1.21	26d	1	0.17mi
1404 Mahogany Dr Melissa, TX	3.0	2.0	1977	$2,400	$1.21	46d	1	0.22mi
3708 Mason Dr Melissa, TX	3.0	2.0	1679	$2,295	$1.37	12d	1	0.28mi
1109 Birchwood Ln Melissa, TX	3.0	2.0	1850	$2,400	$1.30	46d	1	0.33mi
3610 Bastrop St Melissa, TX	3.0	2.0	2036	$2,500	$1.23	26d	1	0.34mi
3608 Bastrop St Melissa, TX	5.0	2.0	2163	$2,395	$1.11	46d	1	0.35mi
3611 Brazos St Melissa, TX	5.0	2.0	2163	$2,899	$1.34	6d	1	0.36mi
3601 Brazos St Melissa, TX	4.0	2.0	2069	$2,400	$1.16	46d	1	0.40mi
300 Lucas Ln Melissa, TX	1.0–3.0	1.0–2.5	1135	$2,529	$2.23	0d	15	0.57mi
3406 Van Zandt Rd Melissa, TX	3.0	2.0	1873	$2,350	$1.25	26d	1	0.58mi
4515 Bluebonnet LN Melissa, TX	1.0–3.0	1.0–2.5	1150	$3,175	$2.76	0d	213	0.60mi
1115 Dickenson Dr Melissa, TX	3.0	2.0	2054	$2,250	$1.10	26d	1	0.68mi
1114 Bexar Ave Melissa, TX	3.0	2.0	1522	$1,875	$1.23	46d	1	0.70mi
1103 Bexar Ave Melissa, TX	3.0	2.0	2045	$2,150	$1.05	19d	1	0.74mi
1103 Bexar Ave Melissa, TX	3.0	2.0	2045	$2,245	$1.10	46d	1	0.74mi
1116 Haskell Dr Melissa, TX	4.0	2.0	1929	$2,395	$1.24	46d	1	0.90mi
1114 Haskell Dr Melissa, TX	4.0	2.0	2075	$2,225	$1.07	15d	1	0.90mi
1113 Haskell Dr Melissa, TX	3.0	2.0	1873	$2,200	$1.17	7d	1	0.93mi
1106 Ellis Rd Melissa, TX	3.0	2.0	1873	$2,150	$1.15	24d	1	1.00mi
4009 Whitetail Ln Melissa, TX	4.0	2.0	1878	$2,300	$1.22	26d	1	1.05mi
4008 Whitetail Dr Melissa, TX	3.0	2.0	1735	$2,300	$1.33	15d	1	1.08mi
2817 Bobcat Dr Melissa, TX	3.0	2.0	1890	$2,300	$1.22	21d	1	1.14mi
2818 Diamondback Dr Melissa, TX	4.0	2.0	1960	$2,445	$1.25	46d	1	1.14mi
2816 Winchester Ave Melissa, TX	3.0	2.0	1650	$2,195	$1.33	21d	1	1.16mi
2903 Diamondback Dr Melissa, TX	4.0	2.0	1956	$2,400	$1.23	26d	1	1.20mi
3000 Harmon Dr Melissa, TX	3.0–4.0	2.5–3.5	1983	$2,975	$1.50	5d	110	1.22mi
4507 Cypress Dr Melissa, TX	3.0	2.0	1895	$2,195	$1.16	1d	1	1.23mi
2910 Winchester Ave Melissa, TX	4.0	2.0	2225	$2,350	$1.06	46d	1	1.25mi
2308 Knox Way Melissa, TX	3.0	2.0	2013	$2,350	$1.17	1d	1	1.25mi
2614 Fritz St Melissa, TX	3.0	2.0	2109	$2,500	$1.19	15d	1	1.33mi
2805 Leslie Ln Anna, TX	3.0	2.0	1672	$2,050	$1.23	6d	1	1.44mi
1925 Carol Ln Anna, TX	4.0	2.0	1617	$1,995	$1.23	19d	1	1.45mi
5900 County Road 277 Melissa, TX	1.0–3.0	1.0–2.0	936	$2,259	$2.41	0d	20	1.47mi
4009 Gray Wolf Dr Melissa, TX	4.0	2.0	1960	$2,350	$1.20	21d	1	1.49mi
1901 Pecan Grove Dr Anna, TX	3.0	2.0	1866	$1,995	$1.07	46d	1	1.49mi
3004 Teak Dr Melissa, TX	3.0	2.0	1905	$2,250	$1.18	1d	1	1.49mi

HOA detail

• Monthly dues: $38 · $456/yr
• Likely covers: gaspool

Listing history 24 events

1. 2026-06-21
   pricedays on market $345,000 Active 51 DOM
2. 2026-06-18
   days on market $355,000 Active 48 DOM
3. 2026-06-17
   days on market $355,000 Active 47 DOM
4. 2026-06-16
   days on market $355,000 Active 46 DOM
5. 2026-06-15
   days on market $355,000 Active 45 DOM
6. 2026-06-13
   days on market $355,000 Active 43 DOM
7. 2026-06-13
   days on market $355,000 Active 42 DOM
8. 2026-06-09
   days on market $355,000 Active 39 DOM
9. 2026-06-08
   days on market $355,000 Active 38 DOM
10. 2026-06-07
    days on market $355,000 Active 37 DOM
11. 2026-06-04
    days on market $355,000 Active 34 DOM
12. 2026-06-03
    days on market $355,000 Active 33 DOM
13. 2026-06-02
    days on market $355,000 Active 32 DOM
14. 2026-06-01
    days on market $355,000 Active 31 DOM
15. 2026-05-31
    days on market $355,000 Active 30 DOM
16. 2026-05-01
    listed $355,000 Active 885-char remark
17. 2024-02-09
    historical $2,100
18. 2024-01-31
    listed $2,100
19. 2022-04-11
    soldstatus
20. 2022-04-11
    soldstatus
21. 2022-04-08
    soldstatus Closed 835-char remark

    Show marketing remark (835 chars)

    Don't miss this lovely one story home in the desirable Villages of Melissa community! Open kitchen boasts granite counters, SS appliances, gas cooktop, and large breakfast bar with ample counter space and room for barstools! Kitchen opens to living room making it great for entertaining! Gas fireplace with beautiful fireplace surround adds character and coziness to living space. Beautiful bay window allows added space in front bedroom. Study with french doors complete WITH CLOSET can be used as 4th bedroom. Spacious master suite features dual sinks, separate tub and shower, and large walk-in closet. Step outside and relax on the large covered patio complete with ceiling fan that overlooks the good sized backyard! Community offers multiple amenities for your enjoyment including, pool, splash pad, playground and walking paths!

22. 2022-03-17
    status Pending 835-char remark

    Show marketing remark (835 chars)

    Don't miss this lovely one story home in the desirable Villages of Melissa community! Open kitchen boasts granite counters, SS appliances, gas cooktop, and large breakfast bar with ample counter space and room for barstools! Kitchen opens to living room making it great for entertaining! Gas fireplace with beautiful fireplace surround adds character and coziness to living space. Beautiful bay window allows added space in front bedroom. Study with french doors complete WITH CLOSET can be used as 4th bedroom. Spacious master suite features dual sinks, separate tub and shower, and large walk-in closet. Step outside and relax on the large covered patio complete with ceiling fan that overlooks the good sized backyard! Community offers multiple amenities for your enjoyment including, pool, splash pad, playground and walking paths!

23. 2022-03-12
    historical Active Option Contract 835-char remark

    Show marketing remark (835 chars)

    Don't miss this lovely one story home in the desirable Villages of Melissa community! Open kitchen boasts granite counters, SS appliances, gas cooktop, and large breakfast bar with ample counter space and room for barstools! Kitchen opens to living room making it great for entertaining! Gas fireplace with beautiful fireplace surround adds character and coziness to living space. Beautiful bay window allows added space in front bedroom. Study with french doors complete WITH CLOSET can be used as 4th bedroom. Spacious master suite features dual sinks, separate tub and shower, and large walk-in closet. Step outside and relax on the large covered patio complete with ceiling fan that overlooks the good sized backyard! Community offers multiple amenities for your enjoyment including, pool, splash pad, playground and walking paths!

24. 2022-03-04
    listed $390,000 Active 835-char remark

    Show marketing remark (835 chars)

    Don't miss this lovely one story home in the desirable Villages of Melissa community! Open kitchen boasts granite counters, SS appliances, gas cooktop, and large breakfast bar with ample counter space and room for barstools! Kitchen opens to living room making it great for entertaining! Gas fireplace with beautiful fireplace surround adds character and coziness to living space. Beautiful bay window allows added space in front bedroom. Study with french doors complete WITH CLOSET can be used as 4th bedroom. Spacious master suite features dual sinks, separate tub and shower, and large walk-in closet. Step outside and relax on the large covered patio complete with ceiling fan that overlooks the good sized backyard! Community offers multiple amenities for your enjoyment including, pool, splash pad, playground and walking paths!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $6,865 · $572/mo
• Projected year-2 tax: $6,865 · $572/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,827
• − Mortgage interest: −$19,325
• − Property taxes: −$6,865
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − HOA: −$456
• − Depreciation: −$10,036
• Taxable loss: −$13,354
• Est. tax savings @ 24.0%: +$3,205
• After-tax cash flow: $-3,989/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Melissa ISD
• NCES district ID: 4830120
• Math proficiency: 65% ▼ -8.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $82,500
• Composite: 58.34/100
• National rank: #1012
• State rank: #24 of 826 in TX

Livability — Melissa

• Score: 68/100
• State rank: #477
• US rank: #9595

Category grades

Amenities F Commute F Cost of living D Crime A+ Employment A+ Housing A+ Health & safety D- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melissa, TX
• County: Collin County · 1,159,394 people
• City population: 22,990
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 22,990
• Household income: $138,827
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 246.0

Population outlook (Collin County) Hauer SSP2

• Today (2025): 1,210,074 people
• By 2030: 1,358,201 · +12.2%
• By 2040: 1,654,061 · +36.7%
• By 2050: 1,937,359 · +60.1%
• By 2075: 2,567,039 · +112.1%
• By 2100: 2,952,048 · +144.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 16% Black 15% Two or more races 10% Asian 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 13% · Canada, China
• Languages at home: 78% English-only · Spanish 12% Other Indo-European 2% Other Asian/Pacific 2%

Political lean MEDSL · Collin

• 2024 margin: R (+11.1) · D 43.1% · R 54.3% · Other 2.6%
• 2008→2024 swing: +14.4pp toward D · 2008: -25.6pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+4.3 2016: R+17.0 2012: R+31.6 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.66%
• Current HPI: 235.2508
• Rent YoY: ▼ -1.42%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-9.0% since first listed

9 events — show timeline

• 2026-05-01 Listed $355,000 NTREIS
• 2024-02-09 Rental Removed $2,100 NTREIS
• 2024-01-31 Listed for Rent $2,100 NTREIS
• 2022-04-11 Sold (Public Records) — Public Records
• 2022-04-11 Sold (Public Records) — Public Records
• 2022-04-08 Sold (MLS) — NTREIS
• 2022-03-17 Pending — NTREIS
• 2022-03-12 Contingent — NTREIS
• 2022-03-04 Listed $390,000 NTREIS

Property tax history

+31.8%/yr

Latest (2025): $6,865 · -3.7% YoY. Source: county tax records.