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1141 Central Way Lantana, TX 76226

4 Beds 4 Baths 3,124 sqft Built 2004

$425,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $136.04
  • 3 Days on Market
  • MLS # : 14511714
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,124 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Gracefully designed, alluringly updated & meticulously maintained as if lifted from the pages of a magazine. Rich engineered wood floors & updated carpet grace the 1st floor. Spacious kitchen showcases granite counters, SSA's, gas cooktop, subway tile backsplash & fresh painted cabinets that opens to living & breakfast. 2 living & 2 dining can be configured to meet buyer's needs. Living down with fireplace & wall of windows overlooks views of the large yard with covered & extended patios. Large owner's suite down with garden tub, sep shower & WIC. Stairs with wrought iron lead to the game-flex room tucked behind French doors, 3 beds + 2 baths. Bed 4 with en-suite bath & WIC makes a fantastic 2nd owner's suite.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Adkins Elementary School Primary Unknown NA
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Adkins Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,476
Property Tax -$962
Property Insurance -$208
HOA -$121
Property Management Fees -$99
CASH FLOW
-$146

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.

$425,000

PROJECTED PRICE

$2,720

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,851

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,720
1$2,7202$2,7503$2,8004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1141 Central Way Lantana, TX 1
    • 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.87
    •  
  • 1430 Golf Club Drive Lantana, TX 2
    • 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 1130 Mission Lane Lantana, TX 3
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.87
    •  
  • 1200 Central Way Lantana, TX 4
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
  • 1660 Bonham Parkway Lantana, TX 5
    • 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Beth Gaskill
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 #: 14511714
Last Updated: 02/05/2021
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