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8560 Newham Street Lantana, TX 76226

3 Beds 3 Baths 2,109 sqft Built 2003

$375,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $177.81
  • 3 Days on Market
  • MLS # : 14504745
  • Updated Date : 01/23/2021 at 15:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,109 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kevin Lewis Properties

Listing Agent's Description

Looking for single story open floor plan with beautiful lake sunsets in one of the best master-planned communities in Denton County. Look no further. This is a great house on a large premium lot(.269acre). Amenities include wood flooring, stone fireplace, built-in shelving, granite kitchen counter, and stainless steel GE appliance. Owners use the 3rd bedroom (with full closet) for an office.

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: Sonora

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Sonora

NeighborhoodNIR 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,303
Property Tax -$849
Property Insurance -$149
HOA -$128
Property Management Fees -$99
CASH FLOW
-$257

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.

$375,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.6%
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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,267

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,2704$2,2755$2,300
$2,300
RENT COMPS ANALYSIS
  • 8560 Newham Street Lantana, TX 3
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.08
    •  
  • 385 Bentson Drive Lantana, TX 1
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 421 Marshall Way Lantana, TX 2
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2007
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
  • 8600 Tyler Drive Lantana, TX 4
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 2003
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.07
    •  
  • 1120 Mission Lane Lantana, TX 5
    • 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 2004
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.09
    •  
PROPERTY LISTING DETAILS
Kevin Lewis
Kevin Lewis Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504745
Last Updated: 01/23/2021
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