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9221 Prickly Pear Trail Lantana, TX 76226

4 Beds 4 Baths 2,700 sqft Built 2020

$559,672

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $207.29
  • 2 Days on Market
  • MLS # : 14485558
  • Updated Date : 12/12/2020 at 13:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485558 - Built by Coventry Homes - February completion! ~ This gorgeous 1-story home has it all. As you enter the home, you will discover stunning architectural details and spacious rooms. The gourmet kitchen is complete with upgraded features and an oversized island providing plenty of workspace. After a long day, retreat to the primary bedroom that features a beautiful cathedral ceiling and a lovely bowed window. The primary bathroom is equipped with a walk-in closet, a shower with a seat and a garden tub. Enjoy hosting and entertaining family and friends on the large covered back patio. Come visit this beautiful home today!

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
 

$503,705$615,639$559,672

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,065
Property Tax -$1,113
Property Insurance -$183
HOA -$121
Property Management Fees -$99
CASH FLOW
-$701

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.

$559,672

PROJECTED PRICE

$2,880

PROJECTED RENT

0.51%

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-$15k-$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$150,313

INVESTMENT

$150,313

Down Payment
$139,918
Rehab Estimate
$2,000
Closing Costs
$8,395

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,065

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,918
Loan Amount $419,754
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,876

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8803$2,9004$2,9955$3,095
$3,095
RENT COMPS ANALYSIS
  • 9221 Prickly Pear Trail Lantana, TX 2
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.07
    •  
  • 1130 Noble Avenue Lantana, TX 1
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2002
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 1441 Meadows Avenue Lantana, TX 3
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2004
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.07
    •  
  • 9117 Violet Drive Lantana, TX 4
    • 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 2018
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.12
    •  
  • 1240 Wilson Drive Lantana, TX 5
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2007
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $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 #: 14485558
Last Updated: 12/12/2020
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