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8905 Thompson Drive Lantana, TX 76226

6 Beds 6 Baths 4,904 sqft Built 2007

$575,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $117.25
  • 2 Days on Market
  • MLS # : 14484311
  • Updated Date : 12/27/2020 at 00:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,904 sqft
  • Baths : 5 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Multi-Gen Beauty on a Golf Course with a Pool! 2 Masters plus wheelchair accessible bed & bath on 1st floor. 1 master down & 1 up with fireplace & large ensuite baths. SO MANY UPDATES! New floors and fresh paint throughout. New quartz counters in bathrooms. 4 living areas including game room and pre-wired media room with huge smooth white wall to project your favorite movies or watch the game with friends. Store snacks and drinks in the wet bar. Host your post-covid family reunion or party with friends with 4904 sqft in this open concept entertainer's dream. Relax by the saltwater pool overlooking the golf course but perfectly situated for privacy. There's even a large built in desk. This home truly has it all!

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
 

$517,500$632,500$575,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$2,122
Property Tax -$1,143
Property Insurance -$311
HOA -$121
Property Management Fees -$99
CASH FLOW
-$45

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.

$575,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.65%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$25,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,629

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,7503$3,975
$3,975
RENT COMPS ANALYSIS
  • 8905 Thompson Drive Lantana, TX 2
    • 6 beds 6 baths ∙ 4,904 Sqft ∙ Built 2007 6 beds 6 baths ∙ 4,904 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.76
    •  
  • 9100 Stacee Lane Lantana, TX 1
    • 5 beds 4 baths ∙ 4,647 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,647 Sqft ∙ Built 2007
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.67
    •  
  • 8231 Navisota Drive Lantana, TX 3
    • 5 beds 5 baths ∙ 4,913 Sqft ∙ Built 2004 5 beds 5 baths ∙ 4,913 Sqft ∙ Built 2004
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,975
    • $0.81
    •  
PROPERTY LISTING DETAILS
Amy Berry
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484311
Last Updated: 12/27/2020
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