Selected for the Terner Labs Housing Venture Lab

12 Misty Meadow Drive, Melissa, TX 75454

Active
Listed 104 days ago
Owner-Occupant Eligible
$1,299,000

About $7,454 a month to live here, after the rent from the other home.

House + ADU5,197 sqft5 beds5 bathsListed Jul 31, 2026

A house with a second home on the lot. Live in one and rent out the other. How it works

Live here for about

$7,454a month

The second home on the lot rents for $1,820. We hold back $300 of that for repairs and an empty month, and the rest goes toward a $8,974 monthly payment.

Income to qualify: about $232,000 a year

With how much down?

At 20% down ($259,800) and 6.0%, 30-year fixed. Your rate and down payment change this.

Get rich slow: keep this loan ten years and the payments pay off about $170,000 of it. See the ten-year math

See which homes fit your numbers
How we work this out

The cost to live here is the loan payment, taxes, insurance and any dues, less the rent, with a little held back for repairs and an empty month. Income to qualify uses a 43% debt-to-income limit, counts 75% of the rent, and none of your other debts.

$38,970 minimum down payment. The cost above is at 20% down, and at the minimum it is higher. Set your own

ABOUT THIS HOME

A rare opportunity to own an exceptional estate on 1.65 beautifully wooded acres in a gated community within the Melissa ISD. Surrounded by mature trees, this private retreat offers peaceful acreage living just minutes from Hwy 75 and Hwy 121. A standout feature is the approximately 1,000-square-foot private casita featuring a full kitchen, living area, bedroom, bathroom, office, and stackable washer-dryer. With its own private entrance plus a hidden Murphy door connecting to the main residence, it offers exceptional flexibility for multigenerational living, extended-stay guests, or a private home office. The first-floor primary suite features soaring ceilings, a spacious bath, and separate closets. The updated kitchen showcases quartz countertops, marble backsplash, and a double-sided fireplace, complemented by a breakfast area and large formal dining room. Two living areas, a private office, and a spacious laundry room complete the main level. Upstairs offers a large game room and three bedrooms, including two connected by a Jack-and-Jill bath and a third with a private bath. Reclaimed wood flooring sourced from a century-old barn adds warmth, history, and distinctive character. Additional features include hand-scraped hardwood floors, updated bathrooms, crown and picture-frame molding, and a balcony overlooking the backyard. Outdoors offers a resort-style pool, spa, cabana, and expansive covered patio with electric shades. Offering privacy, versatility, and exceptional indoor-outdoor living, this distinctive property combines the tranquility of an acreage estate with convenient access to North Texas.

House + ADU

Property Type

71,874 sqft

Lot Size

1998

Year Built

Listing Date: 07/31/2026

Listed by: Jack McLemore

Listing office: Listing Results, LLC

Source: NTREIS #21346667

Series Homes is committed to full compliance with the Fair Housing Act and the Equal Credit Opportunity Act.

CHOOSE YOUR UNIT

Tap the one you would live in. The rest pay rent, and that rent comes off your monthly cost.

If someone lives in the unit you want, or a lease comes with the home, ask how moving in works on this one.

CHECK OUR MATHEvery line of the monthly cost is in here. Change the price or the down payment and watch it move.

OFFER PRICE

Change your offer and watch the monthly cost move.

Purchase Price

-15%
$1,299,000

List Price

+15%

FINANCIALS

How much do you want to put down?

Purchase price$1,299,000
Your Down Payment$259,800
Financed$1,039,200
Estimated Monthly Payment$8,974

Before rent: principal and interest at 6.0% on a 30-year fixed loan, taxes, insurance and any HOA dues. Your rate and down payment change this.

MONTHLY BREAKDOWN

Estimate at 20% down ($259,800) and 6.0%, 30-year fixed. Your rate and down payment change this.

Estimated Monthly Payment (Before Rental Income)
$8,974/month
Principal + Interest
$6,231
Property Taxes
$1,766
Home Insurance
$892
HOA$85
Rental Income (1 Unit)
$1,820/month

From the listing description.

Rental Expenses
-$300
Cost to live here
$7,454/month

Payment estimates shown by Series are illustrative only. Final loan terms, monthly payments, and eligibility will be determined by your mortgage loan originator.

BEFORE YOU OFFER

Now run it on your paycheck.

This page is priced at one down payment and one rate. Send the address and we run it at yours: what you would pay each month after rent, and which loan works on this home.

Free. No credit pull.

NTREIS logo

MLS# 21346667 · Listing office: Listing Results, LLC

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.