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3000 S Cardinal Street Ennis, TX 75119

3 Beds 2 Baths 1,270 sqft Built 2018

$192,500

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $151.57
  • 1 Days on Market
  • MLS # : 14460067
  • Updated Date : 11/02/2020 at 13:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,270 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Just absolutely gorgeous 3-bedroom, move-in ready home. The kitchen boasts with granite countertop, and built-in cabinets with lights underneath. All stainless steel appliances with two ovens. The master bedroom has a walk-in closet with built-ins. Every room has a ceiling fan. This One-story charming house has one car garage but plenty of parking in the driveway and in the street. Located just few minutes from downtown Ennis where shopping, eating and family activities are located, the house is also just 30 minutes drive to downtown Dallas. No survey has been done on this property. Check document section of MLS. BUYER & BUYER AGENTS TO VERIFY ALL INFORMATION.

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
James Bowie Elementary School Primary Regular 386 25 6
Ennis Junior High School Middle Regular 828 52 5
Ennis High School High Regular 1,635 112 4

James Bowie Elementary School

  • Education Level: Primary
  • # of students: 386
  • # of teachers: 25
6
GreatSchools Rating

Ennis Junior High School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 52
5
GreatSchools Rating

Ennis High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 112
4
GreatSchools Rating
 

$173,250$211,750$192,500

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$710
Property Tax -$420
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
$140

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$192,500

PROJECTED PRICE

$1,470

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,763

INVESTMENT

$56,763

Down Payment
$48,125
Rehab Estimate
$5,750
Closing Costs
$2,888

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$710

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,125
Loan Amount $144,375
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$23,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,330

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4254$1,4255$1,470
$1,470
RENT COMPS ANALYSIS
  • 3000 S Cardinal Street Ennis, TX 5
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.16
    •  
  • 3203 S Cardinal Street Ennis, TX 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2013
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.10
    •  
  • 1506 Cardinal Drive Ennis, TX 2
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2019
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 1402 Cardinal Drive Ennis, TX 3
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.01
    •  
  • 1503 Cardinal Drive Ennis, TX 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.01
    •  
PROPERTY LISTING DETAILS
Analiza North
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460067
Last Updated: 11/02/2020
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