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1606 Pacific Avenue Ennis, TX 75119

4 Beds 2 Baths 1,991 sqft Built 2018

$269,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $135.56
  • 3 Days on Market
  • MLS # : 14497979
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,991 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

LOVELY, well maintained, one owner home nestled in desirable and conveniently located Promontory Point! Attractive curb appeal, covered front porch and open, highly functional floor plan make this bright and airy home a must see! Walk into tasteful wood flooring seamlessly flowing into the living and kitchen areas. LARGE kitchen island ideal for family gatherings and meal times! Kitchen boasts lots of cabinets for storage, granite countertops, black appliances and is open to the living and eat in area! Living area includes large back windows and corner fireplace! SPACIOUS master retreat with bay windows, and spa like ensuite bath! Covered patio and spacious backyard with room to run and play!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
William B. Travis Elementary School Primary Regular 306 22 6
Ennis Junior High School Middle Regular 828 52 5
Ennis High School High Regular 1,635 112 4

William B. Travis Elementary School

  • Education Level: Primary
  • # of students: 306
  • # of teachers: 22
6
GreatSchools Rating

Ennis Junior High School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 52
5
GreatSchools Rating

Ennis High School

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

$242,910$296,890$269,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$937
Property Tax -$589
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.64%

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) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7004$1,7205$1,775
$1,775
RENT COMPS ANALYSIS
  • 1606 Pacific Avenue Ennis, TX 4
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.86
    •  
  • 1505 Cardinal Drive Ennis, TX 1
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 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
    •  
  • 3302 Sonoma Trail Ennis, TX 3
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2020
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 3509 Sonoma Trail Ennis, TX 5
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2020
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jake Willingham
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497979
Last Updated: 01/15/2021
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