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837 George Street Lantana, TX 76226

4 Beds 4 Baths 3,333 sqft Built 2004

$407,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.11
  • 3 Days on Market
  • MLS # : 14498342
  • Updated Date : 01/16/2021 at 13:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,333 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

So Many Reasons to love this Cute, David Weekly Built Home in the Heart of beautiful Lantana. Check out the location, less than a block away from Lantana's largest resort style pool, tennis courts, basketball court and Fitness Center. You will be so surprised at how much space this home has. Don't miss the small bonus room off of the kitchen, this can be used as a much needed second office, small tv room or play room. The Kitchen is very spacious with newly painted cabinets and a gorgeous tile backsplash. Look at how much space you have in the Master Bedroom and Bathroom. When you walk upstairs notice the like new carpet and the space abounds with 3 oversized bedrooms and a large loft area.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$366,300$447,700$407,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,414
Property Tax -$921
Property Insurance -$220
HOA -$101
Property Management Fees -$99
CASH FLOW
$106

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.

$407,000

PROJECTED PRICE

$2,860

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$113,605

INVESTMENT

$113,605

Down Payment
$101,750
Rehab Estimate
$5,750
Closing Costs
$6,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,750
Loan Amount $305,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$23,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,866

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,8003$2,8004$2,8605$2,900
$2,900
RENT COMPS ANALYSIS
  • 837 George Street Lantana, TX 4
    • 4 beds 4 baths ∙ 3,333 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,333 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $0.86
    •  
  • 750 Bradford Street Lantana, TX 1
    • 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.84
    •  
  • 1121 Mason Street Lantana, TX 2
    • 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
    •  
  • 1130 Mission Lane Lantana, TX 3
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.87
    •  
  • 1200 Central Way Lantana, TX 5
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Brian White
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498342
Last Updated: 01/16/2021
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