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121 Cherrybark Drive Coppell, TX 75019

3 Beds 2 Baths 1,636 sqft Built 1988

$325,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $198.66
  • 6 Days on Market
  • MLS # : 14463623
  • Updated Date : 11/04/2020 at 14:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This well-maintained home is in walking distance to elementary and middle schools in highly rated Coppell ISD. It has big living-dining room plus second living area, new HVAC system, beautifully updated kitchen and master bath, lots of natural light, plenty of storage, other popular amenities. Enjoy family leisure time on the covered, slate-tiled patio. Sprinkler system makes it easy to preserve attractive landscaping with trees, blooms, bushes. Quiet neighborhood shows pride of ownership and requires no HOA fees; it is only minutes to parks, shopping and restaurants, IH 35E and SH 161 Geo Bush Turnpike. A must see property.

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

Zip Code: 75019

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k448k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75019

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262695

* 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
Mockingbird Elementary School Primary Regular 559 34 8
Coppell Middle East Middle Regular 905 55 10
Coppell High School High Regular 3,136 192 8

Mockingbird Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 34
8
GreatSchools Rating

Coppell Middle East

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 55
10
GreatSchools Rating

Coppell High School

  • Education Level: High
  • # of students: 3,136
  • # of teachers: 192
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,199
Property Tax -$728
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$237

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.

$325,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,926

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9103$1,9504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 121 Cherrybark Drive Coppell, TX 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.17
    •  
  • 250 Creekside Lane Coppell, TX 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.15
    •  
  • 246 Creekside Lane Coppell, TX 3
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1984
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
  • 755 Swallow Drive Coppell, TX 4
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1984
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 103 Meadow Run Circle Coppell, TX 5
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1983
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
PROPERTY LISTING DETAILS
Alicia Lanier
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463623
Last Updated: 11/04/2020
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