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

960 Hondo Road Lantana, TX 76226

5 Beds 4 Baths 3,363 sqft Built 2002

INVESTimate

$450,000

List Price

$2,770

$2,520 - $3,020

Rent Est.

$468,315  ( +4.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $133.81
  • 7 Days on Market
  • MLS # : 14414895
  • Updated Date : 08/20/2020 at 10:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,363 sqft
  • Baths : 3 full , 1 half
Listing Agent

Cassandra & Co.

Listing Agent's Description

HELLO GORGEOUS!! Come enjoy each and every step through this beautifully upgraded and maintained home! Dreamy spaces around every corner. The living and kitchen area are surrounded by floor to ceiling windows giving you natural light amass! Delight your guests with their ensuite on main level with master bed UP. They can sneak out early in the morning without disturbing the family and have their coffee and croissants at the darling eat in kitchen overlooking the lushy backyard. Or take breakfast outside, there is PLENTY of room in this oasis for entertaining. Award winning Lantana offers 5 Pools, 2 Gyms, Jog & Bike Paths, Tons of Community Events Year Round, and New Multi-Million Dollar Amenities Center!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
E.p. Rayzor Elementary School Primary Regular 466 31 10
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

E.p. Rayzor Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 31
10
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$1,660
Property Tax -$1,018
Property Insurance -$222
HOA -$121
Property Management Fees -$99
CASH FLOW
-$350

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.

$450,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,976

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,770
1$2,7702$2,8503$2,9004$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 960 Hondo Road Lantana, TX 1
    • 5 beds 4 baths ∙ 3,363 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,363 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.82
    •  
  • 1409 Burnett Drive Lantana, TX 2
    • 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 3
    • 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
    •  
  • 1511 Meadows Avenue Lantana, TX 4
    • 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
    •  
  • 1580 Meadows Avenue Lantana, TX 5
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2006
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cassandra Homer
Cassandra & Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414895
Last Updated: 08/20/2020
BESbswy