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2806 Belmont Drive Ennis, TX 75119

3 Beds 2 Baths 2,003 sqft Built 2020

INVESTimate

$264,250

List Price

$1,820

$1,638 - $2,002

Rent Est.

$286,923  ( +8.58%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $131.93
  • 5 Days on Market
  • MLS # : 14419107
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

A clearly defined foyer and flex room gives definition to this entryway. The kitchen and dining room are one unified area giving you enough space for a large table where the entire family can gather together for a meal. An oversized living room presents the freedom for customization without compromise. With three secondary bedrooms, the possibilities to personalize are endless. In the center of the home lies the third bedroom and a jack-and-jill bathroom with easy access to both hallways off the dining and living space. Toward the front of the home, the fourth bedroom is a great retreat for your guests to feel they have their own space when they come to visit.

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
 

$237,825$290,675$264,250

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$975
Property Tax -$577
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$26

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.

$264,250

PROJECTED PRICE

$1,820

PROJECTED RENT

0.69%

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$72,026

INVESTMENT

$72,026

Down Payment
$66,063
Rehab Estimate
$2,000
Closing Costs
$3,964

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$975

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,063
Loan Amount $198,188
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$15,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6504$1,7505$1,820
$1,820
RENT COMPS ANALYSIS
  • 2806 Belmont Drive Ennis, TX 5
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.91
    •  
  • 705 Woodcrest Drive Ennis, TX 1
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2016
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.92
    •  
  • 1701 Oriole Drive Ennis, TX 2
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 1503 Dove Circle Ennis, TX 3
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2018
    LEASED 03/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 2808 Park Street Ennis, TX 4
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2019
    LEASED 02/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
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 #: 14419107
Last Updated: 08/25/2020
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