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8717 Thompson Drive Lantana, TX 76226

5 Beds 4 Baths 3,709 sqft Built 2005

$509,000

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $137.23
  • 2 Days on Market
  • MLS # : 14489133
  • Updated Date : 12/27/2020 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,709 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Fabulous location backs to woods & Lantana Golf Club creating gorgeous view & privacy*Wood & tile floors thru-out!*Study w-custom built ins*Updated kitchen has quartz counters, SS appl, Verona Pro Style commercial grade dbl oven range & vent hood, custom cabinetry, coffee bar, appl hideaway, brkfst bar-island combo, window seat w-storage*Laundry Rm w-fold stations & cabinets*Game Rm has walk out balcony*Work station*Media includes screen, projector, speakers & all equipment*Plantation shutters*Downstairs Master*Downstairs En-suite Guest Rm*En-suite up Bdrms w-walk in closets*Covered patio, built-in grill, sun shade, heated salt water pool & spa w-fountain*2 brand new ACs*4 year old water heater*3 year old roof!

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
 

$458,100$559,900$509,000

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$1,878
Property Tax -$1,152
Property Insurance -$242
HOA -$122
Property Management Fees -$99
CASH FLOW
-$262

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.

$509,000

PROJECTED PRICE

$3,230

PROJECTED RENT

0.63%

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-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,635

INVESTMENT

$140,635

Down Payment
$127,250
Rehab Estimate
$5,750
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,190

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1953$3,2304$3,4005$3,400
$3,400
RENT COMPS ANALYSIS
  • 8717 Thompson Drive Lantana, TX 3
    • 5 beds 4 baths ∙ 3,709 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,709 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $0.87
    •  
  • 1240 Fortner Road Lantana, TX 1
    • 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 2
    • 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
    •  
  • 1304 Foxglove Circle Lantana, TX 4
    • 4 beds 4 baths ∙ 3,772 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,772 Sqft ∙ Built 2008
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.90
    •  
  • 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
Beverly Pironti
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 #: 14489133
Last Updated: 12/27/2020
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