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720 Peco Street Lantana, TX 76226

4 Beds 3 Baths 3,462 sqft Built 2002

$425,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $122.76
  • 4 Days on Market
  • MLS # : 14524992
  • Updated Date : 03/11/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,462 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Welcome home to your own personal retreat in the beautiful neighborhood of Lantana. An incredible amount of detail has created the perfect home for any family! The soaring ceilings and recently updated windows elevate this stunning home. Beautiful granite countertops with a massive island in the kitchen, perfect for the chef at home! The master suite will impress with a fireplace, dual vanities, jetted tub, separate shower, and a large walk-in closet! Walking outside, you'll be greeted with a glistening pool set aside a cozy covered patio and deck for those hot summer days! Be sure to check out the community amenities that include pool access, parks, and local walking trails!

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
 

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

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,476
Property Tax -$962
Property Insurance -$227
HOA -$121
Property Management Fees -$99
CASH FLOW
-$85

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

$2,800

PROJECTED RENT

0.66%

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

2.92

YEARS SAVED

$10,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,124

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,9004$3,3005$3,570
$3,570
RENT COMPS ANALYSIS
  • 720 Peco Street Lantana, TX 2
    • 4 beds 3 baths ∙ 3,462 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,462 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.81
    •  
  • 1121 Mason Street Lantana, TX 1
    • 5 beds 3 baths ∙ 3,385 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,385 Sqft ∙ Built 2001
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
  • 1261 Meadows Avenue Lantana, TX 3
    • 4 beds 4 baths ∙ 3,499 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,499 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.83
    •  
  • 1580 Meadows Avenue Lantana, TX 4
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
  • 9008 Thompson Drive Lantana, TX 5
    • 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2005
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $0.98
    •  
PROPERTY LISTING DETAILS
Stacey E Sauer
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 #: 14524992
Last Updated: 03/11/2021
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