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9213 Prickly Pear Trail Lantana, TX 76226

4 Beds 4 Baths 2,977 sqft Built 2020

$568,885

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $191.09
  • 2 Days on Market
  • MLS # : 14485559
  • Updated Date : 12/12/2020 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,977 sqft
  • Baths : 4 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485559 - Built by Coventry Homes - March completion! ~ This lovely single-story floor plan features an abundance of luxuries throughout. As you transition through the light-filled foyer, you enter the open concept kitchen and family room. The kitchen is flanked by the dining room and the spacious study, all overlooking the family room with views to the backyard. The oversized covered patio offers a great space for hosting friends and family. The exquisite primary retreat features large windows and a cathedral ceiling. The primary bath boasts separate vanities, a soaking tub, a large walk-in shower, and two walk-in closets. At the back of the home, there is a secondary bedroom and full bath.

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
 

$511,997$625,774$568,885

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,099
Property Tax -$1,131
Property Insurance -$199
HOA -$121
Property Management Fees -$99
CASH FLOW
-$619

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$568,885

PROJECTED PRICE

$3,030

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 3.00%
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

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$152,755

INVESTMENT

$152,755

Down Payment
$142,221
Rehab Estimate
$2,000
Closing Costs
$8,533

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,221
Loan Amount $426,664
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$722

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $3,029

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$3,0003$3,0304$3,0955$3,200
$3,200
RENT COMPS ANALYSIS
  • 9213 Prickly Pear Trail Lantana, TX 3
    • 4 beds 4 baths ∙ 2,977 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,977 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.02
    •  
  • 1581 Meadows Avenue Lantana, TX 1
    • 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2003
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 1660 Bonham Parkway Lantana, TX 2
    • 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
  • 1240 Wilson Drive Lantana, TX 4
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2007
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.06
    •  
  • 8213 Primrose Trail Lantana, TX 5
    • 4 beds 3 baths ∙ 3,023 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,023 Sqft ∙ Built 2010
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485559
Last Updated: 12/12/2020
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