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8331 Buffalo Drive Lantana, TX 76226

4 Beds 5 Baths 4,123 sqft Built 2009

$749,900

List Price

$4,070

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $181.88
  • 5 Days on Market
  • MLS # : 14451911
  • Updated Date : 10/30/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,123 sqft
  • Baths : 4 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Exquisite Huntington home located on an almost half acre lot*This gorgeous 4 BR home offers abundant natural light and a layout designed for easy living & entertaining*The gourmet kitchen boasts ss appliances, a built in fridge, & a 6 burner gas cooktop*Featuring a sauna and a luxurious bath, the divine master suite is the ultimate retreat*First-floor guest suite boasts an ensuite bath w a separate entry*Private executive study*A dramatic winding staircase leads to spacious secondary bedrooms & a game room w a wet bar*Media Room features surround sound and built in storage*Sprawling entertaining spaces flow outside to the fabulous sparkling pool w a spa and slide*4 car garage*Don't miss out on this rare find!

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
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
 

$674,910$824,890$749,900

PURCHASE PRICE

$3,663$4,477$4,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,070
EXPENSES Loan Payment -$2,767
Property Tax -$1,697
Property Insurance -$265
HOA -$141
Property Management Fees -$99
CASH FLOW
-$899

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.

$749,900

PROJECTED PRICE

$4,070

PROJECTED RENT

0.54%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,070

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,546

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,4004$3,7005$4,070
$4,070
RENT COMPS ANALYSIS
  • 8331 Buffalo Drive Lantana, TX 5
    • 4 beds 5 baths ∙ 4,123 Sqft ∙ Built 2009 4 beds 5 baths ∙ 4,123 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $0.99
    •  
  • 723 Lathrop Street Lantana, TX 1
    • 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 704 Skyler Street Argyle, TX 2
    • 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.90
    •  
  • 8908 Cypress Creek Road Lantana, TX 3
    • 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.88
    •  
  • 8321 Navisota Drive Lantana, TX 4
    • 4 beds 4 baths ∙ 4,403 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,403 Sqft ∙ Built 2006
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Stephanie Seay
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 #: 14451911
Last Updated: 10/30/2020
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