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840 Garland Drive Lantana, TX 76226

4 Beds 4 Baths 3,730 sqft Built 2018

$650,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $174.26
  • 3 Days on Market
  • MLS # : 14527579
  • Updated Date : 03/07/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,730 sqft
  • Baths : 4 full
Listing Agent

Your Home Free Llc

Listing Agent's Description

BETTER THAN NEW single story home in the master planned Lantana golf community! Every surface has been impeccably designed from rich hardwood flooring, tray ceilings, plantation shutters, today's paint tones, upgraded cabinetry & hardware, and so much more! The spacious 3730 sqft spans across 4 bedrooms each with their own private bath, executive French door study, flex space that doubles as a game room, and 3 car OVERSIZED garage. Gourmet island kitchen is a chef's dream from state of the art appliances, gas cooktop, & double ovens! Luxurious master bedroom is the perfect retreat complete with a spa-like bath and custom closet built-ins, perfect for the shoe extraordinaire! Home truly is MOVE IN READY!

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
Adkins Elementary School Primary Unknown NA
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Adkins Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,258
Property Tax -$1,471
Property Insurance -$243
HOA -$123
Property Management Fees -$99
CASH FLOW
-$983

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.

$650,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.49%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$49

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,236

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,2104$3,4005$3,400
$3,400
RENT COMPS ANALYSIS
  • 840 Garland Drive Lantana, TX 3
    • 4 beds 4 baths ∙ 3,730 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,730 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.86
    •  
  • 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 2
    • 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
    •  
  • 9100 Sandhills Drive Lantana, TX 4
    • 5 beds 4 baths ∙ 3,675 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,675 Sqft ∙ Built 2017
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.93
    •  
  • 8908 Cypress Creek Road Lantana, TX 5
    • 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527579
Last Updated: 03/07/2021
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