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8611 Weston Lane Lantana, TX 76226

5 Beds 4 Baths 3,688 sqft Built 2001

$450,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $122.02
  • 4 Days on Market
  • MLS # : 14480259
  • Updated Date : 12/03/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,688 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous Highland Home with 5 beds and 4 baths on a spacious corner lot! Plantation shutters, soaring ceilings and crown molding throughout. Owner's suite down features an ensuite bath with granite countertops, dual vanities, jetted tub, seamless glass shower and custom walk-in closet. 3 beds, 2 baths, media room and game room upstairs. The eat-in kitchen features granite countertops, stainless steel appliances, an abundance of cabinetry, a large island and a beautiful farmhouse sink. The private backyard is framed with a stained fence and the porch is covered with a beautiful custom pergola. The outdoor griddle is set in a custom stone counter and includes room for a Green Egg cooker. This is a must see!

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
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$1,660
Property Tax -$1,018
Property Insurance -$240
HOA -$121
Property Management Fees -$99
CASH FLOW
-$19

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.

$450,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.69%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$19,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,107

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,1204$3,1955$3,400
$3,400
RENT COMPS ANALYSIS
  • 8611 Weston Lane Lantana, TX 3
    • 5 beds 4 baths ∙ 3,688 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,688 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $0.85
    •  
  • 1261 Meadows Avenue Lantana, TX 1
    • 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
    •  
  • 1240 Fortner Road Lantana, TX 2
    • 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
  • 8808 Wyatt Circle Lantana, TX 4
    • 4 beds 4 baths ∙ 3,842 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,842 Sqft ∙ Built 2007
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.83
    •  
  • 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
Monica Mccormick
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480259
Last Updated: 12/03/2020
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