Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1129 Reese Way Lantana, TX 76226

4 Beds 4 Baths 4,106 sqft Built 2007

$499,900

List Price

$3,550

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $121.75
  • 6 Days on Market
  • MLS # : 14476223
  • Updated Date : 12/04/2020 at 10:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,106 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Luxurious 4 bedroom home on the greenbelt offers abundant natural light and a layout designed for easy living*Highlights of the home include handscraped HW floors throughout main living areas, radiant barrier & nest thermostat*Private office w french door entry*The stylish kitchen features double ovens, granite countertops & planning desk*Inviting two story family room w abundant windows & a stone fireplace w a gas starter*With its walk in closet and ensuite, the spacious master bedroom is a welcoming retreat*Upstairs you will find 3 spacious bedrooms & a game room*Media Room features surround sound & a bonus screen & projector*2017 Roof*New carpet*Fresh paint*Located in Lantana's established Isabel community.

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

Neighborhood: Lantana

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Lantana

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Blanton Elementary School Primary Regular 575 37 9
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Blanton Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 37
9
GreatSchools Rating

Harpool Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 61
9
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$1,844
Property Tax -$1,131
Property Insurance -$264
HOA -$121
Property Management Fees -$99
CASH FLOW
$90

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.

$499,900

PROJECTED PRICE

$3,550

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$31,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,550

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,634

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,4004$3,5505$3,800
$3,800
RENT COMPS ANALYSIS
  • 1129 Reese Way Lantana, TX 4
    • 4 beds 4 baths ∙ 4,106 Sqft ∙ Built 2007 4 beds 4 baths ∙ 4,106 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $0.86
    •  
  • 723 Lathrop Street Lantana, TX 1
    • 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 704 Skyler Street Argyle, TX 2
    • 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.90
    •  
  • 1304 Foxglove Circle Lantana, TX 3
    • 4 beds 4 baths ∙ 3,772 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,772 Sqft ∙ Built 2008
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.90
    •  
  • 1401 Goldenrod Circle Lantana, TX 5
    • 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2009 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2009
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Stephanie Seay
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476223
Last Updated: 12/04/2020
BESbswy