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903 Oakmont Drive Ennis, TX 75119

4 Beds 2 Baths 1,709 sqft Built 2003

$249,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $146.23
  • 2 Days on Market
  • MLS # : 14466551
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,709 sqft
  • Baths : 2 full
Listing Agent

Re/max Unlimited

Listing Agent's Description

This Beauty of a home features a split bedroom concept with the kitchen centered perfectly in the home with a breakfast bar, large pantry and stainless steel applicances. The family living space features a stunning fireplace and lots of window to enjoy the sparkling tranquil blue water from the gorgeous swimming pool and hot tub. Owner suite with lots of windows as well has its own sitting area, Owners bathroom includes separate sinks, separate shower and soaking tub. J-swing garage for lots of parking.

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$922
Property Tax -$546
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$93

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.

$249,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6004$1,7005$2,045
$2,045
RENT COMPS ANALYSIS
  • 903 Oakmont Drive Ennis, TX 3
    • 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,709 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 705 Woodcrest Drive Ennis, TX 1
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2016
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.92
    •  
  • 1701 Oriole Drive Ennis, TX 2
    • 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,687 Sqft ∙ Built 2019
    property image
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 3104 Sonoma Trail Ennis, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2020
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 1003 Hoylake Court Ennis, TX 5
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2017
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.03
    •  
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 #: 14466551
Last Updated: 11/06/2020
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