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851 Garland Drive Lantana, TX 76226

4 Beds 5 Baths 3,945 sqft Built 2018

$670,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $169.84
  • 3 Days on Market
  • MLS # : 14537946
  • Updated Date : 03/26/2021 at 09:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,945 sqft
  • Baths : 3 full , 2 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

LIKE-NEW, ENERGY EFFICIENT LANTANA BEAUTY with an AMAZING FLOORPLAN! There’s no shortage of elegant spaces to unwind in this stunning home boasting extensive wood floors, soaring ceilings, LED lighting, gorgeous floor-to-ceiling stone fireplace, wood-beamed ceiling & spiral wrought iron staircase. Prepare meals in the gourmet kitchen offering granite counters, double oven, 5 burner gas cooktop & pull-out drawers, or unwind in the luxurious primary suite. Make great use of the secondary bedroom & ensuite bath downstairs, or entertain upstairs in the massive game room & private media room wired for 5.1 surround sound. Enjoy the spacious backyard featuring a huge covered patio with an outdoor grill. 3 car garage!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$603,000$737,000$670,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$2,327
Property Tax -$1,516
Property Insurance -$255
HOA -$128
Property Management Fees -$99
CASH FLOW
-$855

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.

$670,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.52%

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$71

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,481

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,4004$3,4005$3,470
$3,470
RENT COMPS ANALYSIS
  • 851 Garland Drive Lantana, TX 5
    • 4 beds 5 baths ∙ 3,945 Sqft ∙ Built 2018 4 beds 5 baths ∙ 3,945 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $0.88
    •  
  • 723 Lathrop Street Lantana, TX 1
    • 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 9100 Sandhills Drive Lantana, TX 2
    • 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
    •  
  • 704 Skyler Street Argyle, TX 3
    • 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,782 Sqft ∙ Built 2008
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.90
    •  
  • 8908 Cypress Creek Road Lantana, TX 4
    • 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
Russell Rhodes
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 #: 14537946
Last Updated: 03/26/2021
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