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1308 Ne Main Street Ennis, TX 75119

3 Beds 2 Baths 1,681 sqft Built 2020

$219,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $130.81
  • 2 Days on Market
  • MLS # : 14467457
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Beautiful Move-in ready NEW Construction near downtown. Home offers an open floor plan, granite counter tops in kitchen with island. Lovely luxury vinyl flooring though out home. All rooms have walk in closets, bathrooms have granite vanities, with a gorgeous tile in shower and around tubs. Spacious back yard for entertaining which includes an add on wood deck and fence for privacy. A definite must see!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 75119

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75119

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8371734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Dorie Miller Intermediate School Primary Regular 621 41 6
Dorie Miller Intermediate School Middle Regular 621 41 6
Ennis High School High Regular 1,635 112 4

Dorie Miller Intermediate School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 41
6
GreatSchools Rating

Dorie Miller Intermediate School

  • Education Level: Middle
  • # of students: 621
  • # of teachers: 41
6
GreatSchools Rating

Ennis High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 112
4
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$811
Property Tax -$480
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$115

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,274

INVESTMENT

$60,274

Down Payment
$54,975
Rehab Estimate
$2,000
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$22,788

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,630

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7003$1,7004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1308 Ne Main Street Ennis, TX 1
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.97
    •  
  • 3506 Sonoma Trail Ennis, TX 2
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 3404 Sonoma Trail Ennis, TX 3
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 3505 Sonoma Trail Ennis, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 3302 Sonoma Trail Ennis, TX 5
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2020
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jeannette Pita
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467457
Last Updated: 11/06/2020
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