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8340 Elena Drive Lantana, TX 76226

3 Beds 3 Baths 2,652 sqft Built 2002

$396,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $149.66
  • 4 Days on Market
  • MLS # : 14535928
  • Updated Date : 03/18/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,652 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Welcome to this fabulous 3 bedroom, 2.5 bathroom Lantana home with a pool! Interior home has been completely repainted. Superb drive up to this traditional home with charming shutters and landscaped lot. Family room is spacious and features wood-type flooring and an inviting gas fireplace. Chef's kitchen is open to the living & features oak cabinetry, granite counters, an island, and a breakfast nook. Lux primary suite is spacious and features see thorough fireplace to ensuite bathroom offering dual sinks, deep soaking tub, and 2 walk-in closets. Get ready to make memories in this huge backyard with a newly resurfaced pool and covered back patio. Amenities include tennis, trails, front yard maintenance.

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
 

$357,210$436,590$396,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,379
Property Tax -$898
Property Insurance -$180
HOA -$121
Property Management Fees -$99
CASH FLOW
-$87

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.

$396,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.65%

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$110,929

INVESTMENT

$110,929

Down Payment
$99,225
Rehab Estimate
$5,750
Closing Costs
$5,954

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,379

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,225
Loan Amount $297,675
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$2,5903$2,5954$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 8340 Elena Drive Lantana, TX 2
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.98
    •  
  • 1570 Bonham Parkway Lantana, TX 1
    • 3 beds 2 baths ∙ 2,747 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,747 Sqft ∙ Built 2002
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.94
    •  
  • 740 Peco Street Lantana, TX 3
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2002
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 851 Carolina Way Lantana, TX 4
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 2003
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 1130 Noble Avenue Lantana, TX 5
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535928
Last Updated: 03/18/2021
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