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2803 Saratoga Drive Ennis, TX 75119

3 Beds 2 Baths 2,003 sqft Built 2020

INVESTimate

$265,675

List Price

$1,740

$1,566 - $1,914

Rent Est.

$288,470  ( +8.58%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $132.64
  • 8 Days on Market
  • MLS # : 14416328
  • Updated Date : 08/21/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

Walking into the grand foyer you’ll find yourself right at the entrance of the kitchen that leads into the family living beyond. The flex room in the front of the home can be easily utilized as another bedroom if needed or a den. The kitchen offers plenty of storage and an oversized island prep space. To the right of the dining room lies the secondary bedrooms and full bath. The owner’s suite is situated in the back corner with its own private hallway entrance. This floor plan offers one of our largest walk-in closets; we’ve maximized the space to offer enough room to change into that perfect outfit. The laundry room comes tiled with its own sink for soaking clothes or washing up from doing work outside.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$239,108$292,243$265,675

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$980
Property Tax -$580
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$62

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.

$265,675

PROJECTED PRICE

$1,740

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.58%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,404

INVESTMENT

$72,404

Down Payment
$66,419
Rehab Estimate
$2,000
Closing Costs
$3,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$980

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,419
Loan Amount $199,256
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5253$1,740
$1,740
RENT COMPS ANALYSIS
  • 2803 Saratoga Drive Ennis, TX 3
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.87
    •  
  • 2106 Memphis Street Ennis, TX 1
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2007
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 1209 Vicksburg Drive Ennis, TX 2
    • 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2015
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.89
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416328
Last Updated: 08/21/2020
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