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9117 Violet Drive Lantana, TX 76226

4 Beds 4 Baths 2,673 sqft Built 2018

INVESTimate

$469,900

List Price

$2,470

$2,223 - $2,717

Rent Est.

$489,025  ( +4.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $175.79
  • 7 Days on Market
  • MLS # : 14415493
  • Updated Date : 08/20/2020 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,673 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

WATCH FULL VIDEO TOUR SEARCH YOUTUBE 9117 VIOLET DR. Exceptional Highland built home with all the extras that looks & feels like new construction, but better because you can move in right away! Custom touches & finishes thruout make this a home you will love AND backs to greenbelt & path to amenity center. Clean, modern & fresh describe this home’s design and style. Handsome wood floors flow throughout (no carpet!) & anchor the open design you want. Chef's kitchen with all the extras inc refrigerator & walkin pantry. First floor master & spa like bath. Bonus to this home are: Home office Den, Guest bedroom with private bath, plantation shutters, smart home features, solid core doors & tons of storage solutions.

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
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,734
Property Tax -$1,063
Property Insurance -$182
HOA -$121
Property Management Fees -$99
CASH FLOW
-$729

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.

$469,900

PROJECTED PRICE

$2,470

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.07%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,539

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,5003$2,5904$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 9117 Violet Drive Lantana, TX 1
    • 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.92
    •  
  • 1141 Dayton Drive Lantana, TX 2
    • 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2006
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 1570 Bonham Parkway Lantana, TX 3
    • 3 beds 2 baths ∙ 2,747 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,747 Sqft ∙ Built 2002
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.94
    •  
  • 1130 Noble Avenue Lantana, TX 4
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002
    LEASED 04/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 1101 Dayton Drive Lantana, TX 5
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2006
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
PROPERTY LISTING DETAILS
David Russell
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 #: 14415493
Last Updated: 08/20/2020
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