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2807 Belmont Drive Ennis, TX 75119

3 Beds 2 Baths 1,830 sqft Built 2020

INVESTimate

$251,725

List Price

$1,610

$1,449 - $1,771

Rent Est.

$273,323  ( +8.58%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $137.55
  • 5 Days on Market
  • MLS # : 14419101
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,830 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

Welcome family and friends into this 3-bedroom, 2-bath, ranch-style home with a spacious open floor plan. As you walk through the foyer, to the left, the second and third bedrooms are perfectly situated for a private guest getaway. On the right, utilize the flex room for a home office, craft room or play area for young kids. Continuing through to the open kitchen, the extended countertops and island are the ideal workspace for anything from a simple family dinner to a culinary masterpiece. Situated in the back corner, the owner’s suite is the epitome of space and comfort. Complete with a stand-up shower, tub, and walk-in closet, this space has all the amenities for ideal living.

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
 

$226,553$276,898$251,725

PURCHASE PRICE

$1,449$1,771$1,610

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

PROJECTED ANNUAL CASH FLOW

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

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 $1,610
EXPENSES Loan Payment -$929
Property Tax -$550
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$100

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.

$251,725

PROJECTED PRICE

$1,610

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,707

INVESTMENT

$68,707

Down Payment
$62,931
Rehab Estimate
$2,000
Closing Costs
$3,776

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$929

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,931
Loan Amount $188,794
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4253$1,5754$1,6105$1,750
$1,750
RENT COMPS ANALYSIS
  • 2807 Belmont Drive Ennis, TX 4
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.88
    •  
  • 1602 Bobolink Drive Ennis, TX 1
    • 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2018
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 1605 Oriole Drive Ennis, TX 2
    • 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2019
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 705 Woodcrest Drive Ennis, TX 3
    • 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
    •  
  • 2808 Park Street Ennis, TX 5
    • 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 #: 14419101
Last Updated: 08/25/2020
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