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341 Granger Circle Lantana, TX 76226

3 Beds 3 Baths 2,140 sqft Built 2003

$319,999

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $149.53
  • 3 Days on Market
  • MLS # : 14536039
  • Updated Date : 03/19/2021 at 09:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,140 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

Welcome to resort style living in highly desirable Lantana for under $350k! You will be greeted by the generously sized covered porch, lush plantings and mature trees. Several upgrades await upon entering the home, including extensive trim work, custom lighting and a recently updated kitchen. Kitchen includes 42 inch cabinets, granite countertops, gas cooktop and stainless steel appliances. All appliances (excluding the fridge) were purchased within the last 2 years. Rounding out the first floor is an updated powder room for guest. Owners retreat can be found on the second floor, which includes vaulted ceilings, a large walk in closet and recently updated floors in the bath. Note: listing agent is the seller.

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
E.p. Rayzor Elementary School Primary Regular 466 31 10
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

E.p. Rayzor Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 31
10
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
 

$287,999$351,999$319,999

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,111
Property Tax -$724
Property Insurance -$151
HOA -$121
Property Management Fees -$99
CASH FLOW
$24

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.

$319,999

PROJECTED PRICE

$2,230

PROJECTED RENT

0.70%

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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $239,999
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,279

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2304$2,2505$2,275
$2,275
RENT COMPS ANALYSIS
  • 341 Granger Circle Lantana, TX 3
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.04
    •  
  • 385 Bentson Drive Lantana, TX 1
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 445 Bentson Drive Lantana, TX 2
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
  • 421 Marshall Way Lantana, TX 4
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
  • 8600 Tyler Drive Lantana, TX 5
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2003
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.07
    •  
PROPERTY LISTING DETAILS
Nikki Walton
Keller Williams Dfw Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536039
Last Updated: 03/19/2021
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