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213 Ellicott Drive Roanoke, TX 76262

3 Beds 3 Baths 2,780 sqft Built 1999

$369,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $132.73
  • 2 Days on Market
  • MLS # : 14518430
  • Updated Date : 02/13/2021 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors, Team Realty, Weatherford

Listing Agent's Description

Enjoy tranquil living in the 3 bedroom, 2.5 bath home in sought after Northwest ISD. Conveniently and centrally located to shopping, dining, recreation and DFW airport. This move-in ready home is within walking distance to 2 playgrounds, splash pad, basketball court, jogging trails & much more. Exterior features includes spacious covered front porch, enormous concrete back patio and large back yard perfect for entertaining. Interior features include fresh paint, 3 oversized living areas, one with built in shelving, custom lighting and fans throughout, tile counters and an eat in kitchen. The combination laundry room and pantry have plenty of room for an additional freezer and refrigerator.

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

Neighborhood: The Parks of Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k350k

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

Neighborhood: The Parks of Hillsborough

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10672579

* 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
Roanoke Elementary School Primary Regular 731 45 6
Medlin Middle School Middle Regular 1,078 65 8
Byron Nelson High School High Unknown NA

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,282
Property Tax -$643
Property Insurance -$188
Property Management Fees -$99
CASH FLOW
$149

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.

$369,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$29,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,426

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,3604$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 213 Ellicott Drive Roanoke, TX 3
    • 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.85
    •  
  • 204 Ellicott Drive Roanoke, TX 1
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2003
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 316 Benton Drive Roanoke, TX 2
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2001
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 422 Middleton Drive Roanoke, TX 4
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2013
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 1398 Caspian Drive Roanoke, TX 5
    • 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Amy Soucheck
Weichert Realtors, Team Realty, Weatherford
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518430
Last Updated: 02/13/2021
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