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

216 Cove Drive Coppell, TX 75019

4 Beds 3 Baths 2,491 sqft Built 1991

$439,900

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $176.60
  • 3 Days on Market
  • MLS # : 14522617
  • Updated Date : 02/26/2021 at 10:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,491 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

Remarkable style, beautiful luxury finishes and expertly maintained! This move in ready plan offers extensive updates throughout including handscraped hardwoods, wrought iron staircase & railings, granite counters, Jenn-Aire appliances, designer lighting, modern fixtures and new baseboard molding. The exterior features an 8 ft privacy fence with electric gated double driveway, updated Rachio sprinkler system & basketball hoop. Other recent improvements include new attic insulation, NEST thermostats, ceiling fans, recessed lighting and more! A perfect blend of location, style and modern features make this home a rare find and a must see! Showings begin Saturday, Feb 27.

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: Channel Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Channel Pointe

NeighborhoodNIR 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
Lakeside Elementary School Primary Regular 504 32 10
Coppell Middle North Middle Regular 909 59 9
Coppell High School High Regular 3,136 192 8

Lakeside Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 32
10
GreatSchools Rating

Coppell Middle North

  • Education Level: Middle
  • # of students: 909
  • # of teachers: 59
9
GreatSchools Rating

Coppell High School

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

$395,910$483,890$439,900

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,528
Property Tax -$985
Property Insurance -$171
HOA -$33
Property Management Fees -$99
CASH FLOW
-$306

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.

$439,900

PROJECTED PRICE

$2,510

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4503$2,5004$2,5105$2,695
$2,695
RENT COMPS ANALYSIS
  • 216 Cove Drive Coppell, TX 4
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.01
    •  
  • 752 Ashford Drive Coppell, TX 1
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 1987
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.92
    •  
  • 706 Cheshire Drive Coppell, TX 2
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1994
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 953 Fountain Drive Coppell, TX 3
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1994
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 628 Allen Road Coppell, TX 5
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1991
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.05
    •  
PROPERTY LISTING DETAILS
Robert Mitchell
Keller Williams Dfw Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522617
Last Updated: 02/26/2021
BESbswy