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789 Ashleigh Lane Lantana, TX 76226

3 Beds 3 Baths 2,458 sqft Built 2001

$369,999

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $150.53
  • 7 Days on Market
  • MLS # : 14501779
  • Updated Date : 01/19/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,458 sqft
  • Baths : 2 full , 1 half
Listing Agent

Aatrealty Llc

Listing Agent's Description

Exceptional Darling Home on Quiet Interior Corner Lot in the sought after Sonora Addition in Lantana.This charming 1 story house offers open floor plan with 3 bed,2.1 bath & an office,Wood floor throughout living,dining & all bedrooms.Spacious kitchen completed with an island open to family room.Walls of windows allowing tons of natural lights in.Beautifully Landscaped back yard with 2 Covered Patios & built-in Grill and new sods in front yard.Finished Out Upstairs Storage or Bonus Room 9‘ X 15’.Class 4 Roof Shingles Installed May 2017.Other Energy Efficient Updates include two 15 SEER HVAC Units,Radiant Barrier,Roof Turbines,Tankless water heater.Community offers Pools,Parks,Trails,Fitness Centers,Tennis, etc

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: Sonora

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Sonora

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
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
 

$332,999$406,999$369,999

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,285
Property Tax -$837
Property Insurance -$169
HOA -$128
Property Management Fees -$99
CASH FLOW
-$59

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.

$369,999

PROJECTED PRICE

$2,460

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.6%
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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,495

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4603$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 789 Ashleigh Lane Lantana, TX 2
    • 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.00
    •  
  • 330 Conroe Circle Lantana, TX 1
    • 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2004
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
  • 8424 Tyler Drive Lantana, TX 3
    • 4 beds 4 baths ∙ 2,410 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,410 Sqft ∙ Built 2003
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 851 Carolina Way Lantana, TX 4
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2003
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 1181 Capital Drive Lantana, TX 5
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2004
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Torang Nazmi
Aatrealty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501779
Last Updated: 01/19/2021
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