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1508 Trinidad Way Lantana, TX 76226

4 Beds 3 Baths 3,049 sqft Built 2017

$579,900

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $190.19
  • 3 Days on Market
  • MLS # : 14512880
  • Updated Date : 02/05/2021 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,049 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

SIMPLY GORGEOUS! Located in the wonderful golf course community of Lantana, this Highland one story is sure to catch your attention with all the specialties it has to offer. Plantation Shutters! Bay window in Master! Extended outdoor living with custom decking, perfect for grilling out on summer nights as the sun goes down. On top of that, backs to acreage property so the privacy belongs to you! Wet bar! Terrific home office, and then a second work office next to the master bedroom! Split bedroom arrangement allows everyone to spread out in their own space. Decked out media is perfect for entertaining, three car tandem, and so much more. Shows absolutely beautifully! Come see it SOON!

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
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
 

$521,910$637,890$579,900

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,014
Property Tax -$1,312
Property Insurance -$203
HOA -$121
Property Management Fees -$99
CASH FLOW
-$970

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.

$579,900

PROJECTED PRICE

$2,780

PROJECTED RENT

0.48%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$2,8003$2,9004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1508 Trinidad Way Lantana, TX 1
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.91
    •  
  • 540 Catherine Lane Lantana, TX 2
    • 4 beds 4 baths ∙ 3,111 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,111 Sqft ∙ Built 2014
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.90
    •  
  • 1328 Burnett Drive Lantana, TX 3
    • 4 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 8740 Dayton Drive Lantana, TX 4
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    LEASED 07/28/20
    • 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
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kathy Kiefer
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 #: 14512880
Last Updated: 02/05/2021
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