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921 Fannin Drive 
Lantana, TX
76226
4 Beds 4 Baths 3,532 sqft
Built 2006
INVESTimate
$475,000
List Price
$131,625
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PROPERTY INFO
FACTS
- Built In 2006
- Price/Sqft : $134.48
- 2 Days on Market
- MLS # : 14419835
- Updated Date : 08/25/2020 at 23:21
CONSTRUCTION
- Beds : 4
- Floor Size : 3,532 sqft
- Baths : 3 full , 1 half
Listing Agent
Callahan Realty Group
Listing Agent's Description
Beautiful 4 Bedroom, 3.5 bath, Highland Home with 3 Car Garage. This spacious property has it all including media room, cul-de-sac street, study, dream kitchen and sparkling pool with huge hot tub. As you enter the home you'll be instantly impressed with the beautiful staircase, hardwoods, tall ceilings, dining room and study with French doors. The main living area features a beautiful stone fireplace and open to Kitchen with tons of storage and gorgeous granite. The Island and eat-in-kitchen are perfect for entertaining. You'll love cooling off in the resort like pool out back. Spacious Master with bay windows and well appointed en-suite. Large bedrooms up with Jack-and-Jill bath and private bedroom bath.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lantana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,980 |
| EXPENSES | Loan Payment | -$1,753 |
| Property Tax | -$1,075 | |
| Property Insurance | -$231 | |
| HOA | -$121 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$299
|
||
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.
$475,000
PROJECTED PRICE
$2,980
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| 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
INVESTMENT
$131,625
LOAN DETAILS
$1,753
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
1.42
YEARS SAVED
$4,548
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,980
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$3,002
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
921 Fannin Drive Lantana, TX 3
- 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,532 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,980
- $0.84
-
1409 Burnett Drive Lantana, TX 1
- 4 beds 3 baths ∙ 3,451 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,451 Sqft ∙ Built 2005
LEASED 10/29/19- Rent
- Rent Per SQFT
- $2,850
- $0.83
-
1261 Meadows Avenue Lantana, TX 2
- 4 beds 4 baths ∙ 3,499 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,499 Sqft ∙ Built 2003
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,900
- $0.83
-
1240 Fortner Road Lantana, TX 4
- 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2010
LEASED 08/22/20- Rent
- Rent Per SQFT
- $3,000
- $0.83
-
1511 Meadows Avenue Lantana, TX 5
- 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2007
LEASED 03/06/20- Rent
- Rent Per SQFT
- $3,100
- $0.91
PROPERTY LISTING DETAILS
Callahan Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14419835
Last Updated: 08/25/2020
