402 South Gaines Street

Ennis, TX 75119

$190,000
Price
2
Beds
2
Baths
1,104 Sq. Ft.
$172 / Sq. Ft.
1,104
Sq. Ft.
$172
per Sq. Ft.

Description

Attention investors! Brick duplex with long-term tenants on oversized corner lot. Ennis is a thriving family community with local festival, parades, dances, etc. Home of the renowned Bluebonnet Festival, the Autumn Daze festival with its hay maze and pumpkin patch, Ennis is experiencing exponential growth so this is an excellent opportunity to purchase in a growing community. Each unit has a spacious bedroom with lots of closet space, one full bathroom with combo tub & shower, and a galley style...Attention investors! Brick duplex with long-term tenants on oversized corner lot. Ennis is a thriving family community with local festival, parades, dances, etc. Home of the renowned Bluebonnet Festival, the Autumn Daze festival with its hay maze and pumpkin patch, Ennis is experiencing exponential growth so this is an excellent opportunity to purchase in a growing community. Each unit has a spacious bedroom with lots of closet space, one full bathroom with combo tub & shower, and a galley style kitchen with built-in cabinets. Current leases expire in March 2025. The tenants would be interested in staying, or someone could live in one side and rent out the other side. Currently leased below market rent. Comps suggest fair market rent should be $850-$1000 per month.
  1. Listed by Pam Smith • TREC #0489719 • LPT Realty LLC • 877-366-2213

Property Details for 402 South Gaines Street

Subdivision Name
O T Ennis
Pool
No
Garage Spaces
0
Number Of Parking Spaces
4
LISTING UPDATED: 11/06/2024 08:31 PM

Property Details for 402 South Gaines Street

StatusActive
MLS #20765208
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Full Duplex
Year Built1983
Lot Size0.13 AC / 5,662 SF
CountyEllis County

Building Information for 402 South Gaines Street

Stories1Residences2Year Built1983Building Size-Lot Size0.13 AC / 5,662 SF

Property Information for 402 South Gaines Street

Summary
Location and General Information
  • Block: 199
  • Complex Name: none
  • Directions: From Ennish High School go east on Lake Bardwell Drive; Left on Clay; Right on Waco to Gaines
  • Elementary School: Bowie
  • Elementary School Name: Bowie
  • High School: Ennis
  • High School Name: Ennis
  • Junior High School: Ennis
  • Year Built Details: Preowned
  • School District: Ennis ISD
  • Geocode Confidence: High
  • Latitude: 32.32
  • Longitude: -96.63
  • State: Texas
Parking
  • Parking Features: Driveway
  • Carport Spaces: 0
  • Parking Spaces Covered Total: 0
  • Garage: No
Taxes and HOA Information
  • Tax Legal Description: LOT 5 BLK 199 O T ENNIS .132 AC
  • Association Type: None
  • Special Taxing Entities: No
  • Tax Lot: 5
Virtual Tour
Interior and Exterior Features
Interior Features
  • Fireplaces Total: 0
  • Flooring: Carpet, Tile
  • Heating: Electric
  • Interior Features: Other
  • Appliances: Electric Range
  • Cooling: Electric
  • Smart Home Features Appor Pass Y: No
Exterior Features
  • Building Area Source: Public Records
  • Construction Materials: Brick
  • Foundation Details: Slab
  • Number Of Stories: 1
  • Roof: Composition
  • Number Of Units Total: 2
  • Levels: One
Property
Utilities
  • Utilities: City Sewer, City Water
Property and Assessments
  • Financing Proposed: Cash, Conventional
  • Handicap: No
  • Loan Type: Treat As Clear
  • Property Match: APN
Lot Information
  • Lot Features: Corner Lot
  • Lot Size: Less Than .5 Acre (not Zero)
  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Source: Public Records
  • Lot Size Units: Acres
  • Lot Size Square Feet: 5662.8
  • Multi Parcel ID: No
  • Parcel Number: 158520
Multi Family
Multi-Family Information
  • Number Of Buildings: 1
  • Capitalization Rate: 7.11%
  • Gross Annual Expenses: $3,889
  • Gross Annual Income: $17,400
  • Insurance Expense: $777
  • Tenancy: 6 Months or Less
  • Total Annual Expenses Include: Insurance, Other
  • Net Operation Income: $13,511.00
Unit 1
  • Approximate SQFT: 550.0
  • Average Lease Amount: $700.00
  • Dining Area Length: 0.0
  • Dining Area Width: 0.0
  • Kitchen Length: 0.0
  • Kitchen Width: 0.0
  • Living Area Length: 0.0
  • Living Area Width: 0.0
  • Master Bed Length: 0.0
  • Master Bed Width: 0.0
  • Number Of Baths Full: 1
  • Number Of Baths Half: 0
  • Unit Type Type: 1 Bedroom
  • Unit Type Units Total: 1
Unit 2
  • Approximate SQFT: 550.0
  • Average Lease Amount: $750.00
  • Dining Area Length: 0.0
  • Dining Area Width: 0.0
  • Kitchen Length: 0.0
  • Kitchen Width: 0.0
  • Living Area Length: 0.0
  • Living Area Width: 0.0
  • Master Bed Length: 0.0
  • Master Bed Width: 0.0
  • Number Of Baths Full: 1
  • Number Of Baths Half: 0
  • Unit Type Type: 1 Bedroom
  • Unit Type Units Total: 1

Property History for 402 South Gaines Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 402 South Gaines Street

Taxable ValueLand$49,500Additions$109,693Total$159,193
Tax Record2023$3,112 ($259 / month)
Home Facts
Baths2Total Finished SqFt1,104 SqFtAbove Grade Finished SqFt1,104 SqFtStories1Lot Size5,750 SqFtStyleMulti-Family Dwelling (2-4)Year Built1983Year Renovated1998CountyELLISAPN25.2001.199.005.00.103

Schools near 402 South Gaines Street

This home is within Ennis Independent School District.
Rating
School
Type
Grades
Distance
Public - 1 to 3
Public - 4 to 5
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Bowie Elementary School
Public1 to 3

Jack Lummus Intermediate School
Public4 to 5

Ennis J High School
Public7 to 8

Ennis High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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402 South Gaines Street is a multi-family home for sale in Ennis, TX 75119. This property was listed for sale on October 30, 2024 by LPT Realty LLC, it's currently listed at $190,000. This listing's school district is Ennis Independent School District. Nearby schools include Bowie Elementary School, Jack Lummus Intermediate School and Ennis J High School. 402 South Gaines Street is a 2-bed, 2-bath, 1,104 sqft multi-family home built in 1983.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of LPT Realty LLC, Pam Smith

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