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9116 Terrel Street Lantana, TX 76226

4 Beds 3 Baths 2,249 sqft Built 2017

$384,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $171.14
  • 4 Days on Market
  • MLS # : 14469718
  • Updated Date : 11/13/2020 at 18:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Like new one story in Barrington, Lantana's newest community. Built in 2017 by Highland Homes, this stunning floor plan features 4 bedrooms, 3 full bathrooms, and a study giving you all the flexibility that you need with none of the wasted space. You'll adore the tall ceilings, 8 foot doorways, natural light, and rich engineered wood floors throughout the open great room space. Enjoy all that Lantana has to offer, 5 pools, miles of wooded walking trails, tennis courts, and golf club. When you get home relax in your large master suite or sip a drink on the extended back patio surrounded by lush landscaping. Come fall in love for yourself!

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
Blanton Elementary School Primary Regular 575 37 9
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Blanton Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 37
9
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
 

$346,410$423,390$384,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,420
Property Tax -$871
Property Insurance -$157
HOA -$121
Property Management Fees -$99
CASH FLOW
-$298

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.

$384,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.62%

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-$10k-$5.0k$0.0$5.0k$10k

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$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2003$2,3004$2,3505$2,370
$2,370
RENT COMPS ANALYSIS
  • 9116 Terrel Street Lantana, TX 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.05
    •  
  • 1230 Fortner Road Lantana, TX 1
    • 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2009
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 1431 Meadows Avenue Lantana, TX 2
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 2004
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
  • 8200 Watson Road Lantana, TX 3
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 1181 Noble Avenue Lantana, TX 4
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ryan Enos
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 #: 14469718
Last Updated: 11/13/2020
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