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871 Carolina Way Lantana, TX 76226

4 Beds 3 Baths 3,052 sqft Built 2003

$365,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.59
  • 2 Days on Market
  • MLS # : 14498293
  • Updated Date : 01/17/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,052 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

**OPEN HOUSE SUNDAY, JAN. 17th 2-4 PM**Stunning two-story home located in the highly sought-after master-planned community of Lantana! This beautiful home featuring updated paint and carpet, wood floors, flagstone fireplace, and crown molding is a must see! Gourmet kitchen overlooks an oversized family room and boasts granite countertops, Travertine backsplash, stainless steel appliances, and gas cooktop. Master retreat is spacious with a sparkling bathroom that features dual sinks, a luxurious garden tub, and large walk-in closet. With a perfect location close to major highways, shopping, and schools you are sure to love this charming home!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,268
Property Tax -$826
Property Insurance -$204
HOA -$128
Property Management Fees -$99
CASH FLOW
$56

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.

$365,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,777

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,8003$2,9004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 871 Carolina Way Lantana, TX 1
    • 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.85
    •  
  • 1130 Mission Lane Lantana, TX 2
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.87
    •  
  • 1200 Central Way Lantana, TX 3
    • 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,211 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
  • 1328 Burnett Drive Lantana, TX 4
    • 4 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 1660 Bonham Parkway Lantana, TX 5
    • 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Amy Lane
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498293
Last Updated: 01/17/2021
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