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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lantana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
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
-
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
Redfin Corporation
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14480259
Last Updated: 12/03/2020
