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1601 Monahan Drive Lantana, TX 76226

3 Beds 2 Baths 2,496 sqft Built 2016

$434,900

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $174.24
  • 3 Days on Market
  • MLS # : 14469861
  • Updated Date : 11/15/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,496 sqft
  • Baths : 2 full
Listing Agent

E 5 Realty

Listing Agent's Description

Absolutely stunning 1 story brick & stone home on oversize corner lot offering 3 tandem car garage, stunning outdoor patio w built in gas fireplace. Gourmet Island kitchen boasts granite counter tops, 5 burner gas cooktop, abundance of wood cabinets, cookie sheet & spice cabinets, breakfast bar opens to family room featuring luxurious hard wood flooring, stunning beamed ceiling with speakers. Master suite features luxurious bath with his & hers sinks, separate shower, linen closet, large walk-in closet. Private office, dining room. Outside outlets under eaves, tankless gas water heater, Ecobee3 Thermostat. HOA includes front yard maintenance, security, access to pools, gyms, playgrounds, nature jogging trails!

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
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
 

$391,410$478,390$434,900

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,605
Property Tax -$984
Property Insurance -$171
HOA -$121
Property Management Fees -$99
CASH FLOW
-$280

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.

$434,900

PROJECTED PRICE

$2,700

PROJECTED RENT

0.62%

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-$10k-$5.0k$0.0$5.0k$10k

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$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,546

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5503$2,6504$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1601 Monahan Drive Lantana, TX 4
    • 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.08
    •  
  • 1812 Seminole Lane Lantana, TX 1
    • 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 2016
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 921 Crimson Road Lantana, TX 2
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2012
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.10
    •  
  • 1181 Capital Drive Lantana, TX 3
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2004
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 1521 Golf Club Drive Lantana, TX 5
    • 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,831 Sqft ∙ Built 2014
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Eddie Nadwodny
E 5 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469861
Last Updated: 11/15/2020
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