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404 Avenue E Ennis, TX 75119

3 Beds 2 Baths 1,371 sqft Built 2020

$192,500

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $140.41
  • 5 Days on Market
  • MLS # : 14477391
  • Updated Date : 11/26/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full
Listing Agent

City Real Estate

Listing Agent's Description

Still under construction but will be finished soon Cute 3 bed 2 bath home with stainless farm sink in kitchen and pull out pantry. Large closets and double vanity in master bath. This is a must see and won't last long. Buyer and buyer's agent to verify all room sizes.

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
 

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

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$710
Property Tax -$420
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$34

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.

$192,500

PROJECTED PRICE

$1,370

PROJECTED RENT

0.71%

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) 3.00%
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

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$53,013

INVESTMENT

$53,013

Down Payment
$48,125
Rehab Estimate
$2,000
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

5.33

YEARS SAVED

$12,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,366

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,4504$1,465
$1,465
RENT COMPS ANALYSIS
  • 404 Avenue E Ennis, TX 1
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.00
    •  
  • 1110 Vicksburg Drive Ennis, TX 2
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2014
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 2302 Memphis Street Ennis, TX 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2004
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 2108 Natchez Drive Ennis, TX 4
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2015
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $1.07
    •  
PROPERTY LISTING DETAILS
Rebecca Herrera
City Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477391
Last Updated: 11/26/2020
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