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250 Ellis Drive Weatherford, TX 76088

3 Beds 2 Baths 1,906 sqft Built 2000

$310,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $162.64
  • 6 Days on Market
  • MLS # : 14489399
  • Updated Date : 12/22/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full
Listing Agent

Weichert Realtors, Team Realty, Weatherford

Listing Agent's Description

Enjoy tranquil country living in this beautiful 3 bedroom 2 bathroom home in sought after Greenwood Estates. Exterior features include covered porches with scenic views, 20 X 16 shop with electric for him, She Shed storage unit with electric for her, solar panels, a metal and pipe no climb fence, outdoor living with firepit and an abundance of trees. The interior offers three large bedrooms, two baths, eat in kitchen, majestic fireplace, oversized laundry facility with plenty of room for an additional refrigerator or freezer. Home is conveniently located near Weatherford Square, shopping, schools and has easy access to I-20. Don't miss this opportunity to have country charm just outside of town.

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: 76088

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k283k

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

Zip Code: 76088

ZipNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10561748

* 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
Bill W. Wright Elementary School Primary Regular 663 45 4
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6

Bill W. Wright Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 45
4
GreatSchools Rating

Hall Middle School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 41
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,144
Property Tax -$660
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$40

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$2,000
$2,000
RENT COMPS ANALYSIS
  • 250 Ellis Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
  • 108 Deerfield Boulevard Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
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 #: 14489399
Last Updated: 12/22/2020
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