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1133 Burnett Drive Lantana, TX 76226

4 Beds 3 Baths 3,550 sqft Built 2007

$479,900

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $135.18
  • 3 Days on Market
  • MLS # : 14466097
  • Updated Date : 11/07/2020 at 10:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,550 sqft
  • Baths : 3 full
Listing Agent

Real Estate Station Llc

Listing Agent's Description

Prepare to fall in love... this home is immaculate and lovely inside and out! So many details have been thought of and added throughout the home, it truly is a stand-out. All bedrooms are on the main level, along with the kitchen, living, dining. and office; upstairs you'll find a large game room, media room, and bathroom! The game room has added built-in shelves and cabinetry to keep you organized, as well as a Murphy bed to accommodate your guest needs. This 1.5 story home offers a wonderful layout for not only the day-to-day life but also for entertaining. Open your backdoor and be welcomed by multiple living spaces- a covered patio and an amazing outdoor living area-as well as enough green space to play.

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

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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$1,771
Property Tax -$1,086
Property Insurance -$232
HOA -$121
Property Management Fees -$99
CASH FLOW
-$259

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.

$479,900

PROJECTED PRICE

$3,050

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

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

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$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,248

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0503$3,1004$3,2505$3,300
$3,300
RENT COMPS ANALYSIS
  • 1133 Burnett Drive Lantana, TX 2
    • 4 beds 3 baths ∙ 3,550 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,550 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.86
    •  
  • 1240 Fortner Road Lantana, TX 1
    • 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
  • 1511 Meadows Avenue Lantana, TX 3
    • 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2007
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.91
    •  
  • 9115 Leland Drive Lantana, TX 4
    • 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.95
    •  
  • 1580 Meadows Avenue Lantana, TX 5
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Morgan Tower
Real Estate Station Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466097
Last Updated: 11/07/2020
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