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9313 Violet Drive Lantana, TX 76226

3 Beds 2 Baths 2,114 sqft Built 2021

$497,373

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $235.28
  • 2 Days on Market
  • MLS # : 14509808
  • Updated Date : 01/30/2021 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,114 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14509808 - Built by Coventry Homes - May completion! ~ This stunning single story home is situated on an oversized lot. As you enter, you are welcomed by natural light, rich wood floors, 8-foot doors, 12-foot ceilings and stylish art niches throughout. The gourmet kitchen is equipped with an oversized quartz island, stainless steel appliances and a gas cooktop. This open plan is ideal for entertaining family and friends. The family room boasts 7-foot windows, a built-in media center and is prewired for surround sound. After a long day, relax in the luxurious master suite that features an attached sitting area and a spa-like bath. The master bath includes an oversized shower & a soaking tub.

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
 

$447,636$547,110$497,373

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,728
Property Tax -$1,126
Property Insurance -$149
HOA -$121
Property Management Fees -$99
CASH FLOW
-$802

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.

$497,373

PROJECTED PRICE

$2,420

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,804

INVESTMENT

$133,804

Down Payment
$124,343
Rehab Estimate
$2,000
Closing Costs
$7,461

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,728

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,343
Loan Amount $373,030
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,447

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,4204$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 9313 Violet Drive Lantana, TX 3
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.14
    •  
  • 8200 Watson Road Lantana, TX 1
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2003
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 1181 Noble Avenue Lantana, TX 2
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
  • 9029 Violet Drive Lantana, TX 4
    • 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2017
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.22
    •  
  • 8409 Bayberry Avenue Lantana, TX 5
    • 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2011
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.27
    •  
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 #: 14509808
Last Updated: 01/30/2021
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