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705 Oakmont Drive Ennis, TX 75119

3 Beds 2 Baths 1,439 sqft Built 2008

$239,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $166.71
  • 4 Days on Market
  • MLS # : 14480305
  • Updated Date : 12/03/2020 at 11:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,439 sqft
  • Baths : 2 full
Listing Agent

Re/max Unlimited

Listing Agent's Description

Stunning single story home. Enjoy all the amenities this home has to offer including backyard oasis with a sparkling custom pool and large enclosed custom screened patio! Inside you will find a sprawling open concept floor plan offering a kitchen that boasts an abundance of counter space and cabinetry and eat in breakfast nook and bar ,opening to the vaulted ceiling in the large family room. Master retreat split from secondary bedrooms complete this adorable floor plan, 3 bedrooms, 2 full baths, and 2 car garage!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$885
Property Tax -$524
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$258

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.

$239,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.57%

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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4253$1,5754$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 705 Oakmont Drive Ennis, TX 1
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.95
    •  
  • 1402 Cardinal Drive Ennis, TX 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2019
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.01
    •  
  • 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
    •  
  • 1700 Swallow Drive Ennis, TX 4
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 3104 Sonoma Trail Ennis, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Tracey Dierolf
Re/max Unlimited
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480305
Last Updated: 12/03/2020
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