Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9131 Charles Street Lantana, TX 76226

5 Beds 5 Baths 4,364 sqft Built 2008

$700,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $160.40
  • 3 Days on Market
  • MLS # : 14508040
  • Updated Date : 01/29/2021 at 21:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,364 sqft
  • Baths : 4 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Outdoor retreat living complete with saltwater, Pebble Tec pool with tanning ledge & rock waterfall, raised spa, outdoor kitchen under vaulted cedar pavilion, open patio areas & outdoor fireplace overlooking a panoramic greenbelt landscape. Meticulously built & maintained Highland home with plantation shutters throughout, crown molding, hand scraped hardwoods, central vac & 3 car garage with cedar doors & storage. Kitchen showcases granite, SSA’s, double ovens, 5-burner cooktop & immense island open to living with floor to ceiling stone fireplace. Owner’s suite with jetted tub, dbl head shower, granite & travertine. Owner’s suite, guest suite with full bath access & executive study down. Extensive updates list.

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: Azalea

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k641k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Azalea

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $11264378

* 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
 

$630,000$770,000$700,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$2,431
Property Tax -$1,584
Property Insurance -$279
HOA -$134
Property Management Fees -$99
CASH FLOW
-$618

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.

$700,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.6%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,557

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,910
$3,910
RENT COMPS ANALYSIS
  • 9131 Charles Street Lantana, TX 3
    • 5 beds 5 baths ∙ 4,364 Sqft ∙ Built 2008 5 beds 5 baths ∙ 4,364 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $0.90
    •  
  • 9020 Thompson Drive Lantana, TX 1
    • 4 beds 4 baths ∙ 4,462 Sqft ∙ Built 2003 4 beds 4 baths ∙ 4,462 Sqft ∙ Built 2003
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.81
    •  
  • 8321 Navisota Drive Lantana, TX 2
    • 5 beds 4 baths ∙ 4,403 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,403 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Beth Gaskill
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508040
Last Updated: 01/29/2021
BESbswy