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286 Ellis Drive Weatherford, TX 76088

3 Beds 2 Baths 2,133 sqft Built 1998

$349,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $164.04
  • 2 Days on Market
  • MLS # : 14525834
  • Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,133 sqft
  • Baths : 2 full
Listing Agent

Century 21 A-one Realty

Listing Agent's Description

Lovely Well-Maintained BRICK Home and Workshop in COUNTRY Setting on Almost an ACRE! Covered WRAP-AROUND Front Patio and Circle DRIVE with TREES Welcomes You! Spacious 3 Bedrooms, 2 Baths, Oversized Living Room, Wood-Burning FIREPLACE with Custom Mantle, Large Country Kitchen with BREAKFAST Bar, 2 Dining Areas, and HUGE Covered Back Patio. NEW Roof, NEW HVAC, Fresh PAINT and freshly cleaned Carpeting Throughout! 40x30 METAL Workshop with Electric and Workbenches. 0.796 ACRES!! Fantastic Location with Trees and GREENBELT behind that hosts Deer and other Wildlife!!

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: 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
Hall Middle School Middle Regular 592 41 5
Weatherford High School High Regular 2,238 148 6
Whs Ninth Grade Center High Regular NA

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

Whs Ninth Grade Center

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,215
Property Tax -$745
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$249

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.

$349,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.56%

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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9603$2,1954$2,495
$2,495
RENT COMPS ANALYSIS
  • 286 Ellis Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.92
    •  
  • 127 Diamond Ridge Lane Weatherford, TX 1
    • 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 101 Falcons Eye Court Weatherford, TX 3
    • 4 beds 2 baths ∙ 2,266 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,266 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
  • 2066 Ellis Drive Weatherford, TX 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tina Pace
Century 21 A-one Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525834
Last Updated: 03/06/2021
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