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1591 Bonham Parkway Lantana, TX 76226

3 Beds 2 Baths 1,552 sqft Built 2003

$335,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $215.85
  • 1 Days on Market
  • MLS # : 14532565
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Capstone Commercial

Listing Agent's Description

Stunning single-story home in the desirable Lantana golf community! Features hand scraped HW floors throughout, beautiful white kitchen cabinets with granite counter tops and stainless-steel appliances, totally remodeled Master Bath with frameless shower glass, added New Master Tub, custom paint in & out, new granite counter, fixtures and Luxury vinyl plank floor in both bathrooms. Enjoy the beautiful covered, extended Patio year-round. This award-winning Lantana community has five swimming pools, two gyms, and year-round events for all ages! Seller is a licensed agent in TEXAS. ***** PLEASE FOLLOW CDC GUIDE LINES ON COVID-19, ANYONE WHO ENTERS THE PROPERTY MUST WEAR A FACE MASK. THANK YOU *****

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: Larkspur

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Larkspur

NeighborhoodNIR 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,164
Property Tax -$758
Property Insurance -$117
HOA -$121
Property Management Fees -$99
CASH FLOW
-$389

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.

$335,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$86

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9503$2,0004$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1591 Bonham Parkway Lantana, TX 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.20
    •  
  • 500 Sheldon Road Argyle, TX 2
    • 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 2007
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
  • 8518 Tyler Drive Lantana, TX 3
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2004
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 300 Granger Circle Lantana, TX 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2003
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.23
    •  
  • 1630 Bonham Lantana, TX 5
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2003
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
PROPERTY LISTING DETAILS
Grace Sun
Capstone Commercial
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532565
Last Updated: 03/13/2021
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