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

229 Heather Glen Drive Coppell, TX 75019

3 Beds 2 Baths 1,650 sqft Built 1981

$315,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $190.91
  • 4 Days on Market
  • MLS # : 14520486
  • Updated Date : 02/27/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Multiple Offers received. Highest and Best Offer deadline is 3:00 p.m. Sunday, February 28, 2021. Perfect for the Executive. Close to DFW International Airport and surrounded by major roadways. Quality schools. Well maintained one-story near end of cul-de-sac in the heart of Coppell. Study or fourth bedroom. Updated kitchen with stainless appliances. Wood floors in living and study. Tile entry, kitchen, breakfast, master bath and utility. Ceiling fans throughout. Covered back porch with service window from kitchen for entertaining.

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: Braewood West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $122k448k

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

Neighborhood: Braewood West

NeighborhoodNIR 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
Austin Elementary School Primary Regular 501 35 8
Coppell Middle East Middle Regular 905 55 10
Coppell High School High Regular 3,136 192 8

Austin Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 35
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,094
Property Tax -$705
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$141

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.

$315,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8803$1,9504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 229 Heather Glen Drive Coppell, TX 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.14
    •  
  • 344 Westwood Court Coppell, TX 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.17
    •  
  • 229 S Heartz Road Coppell, TX 3
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1981
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
  • 317 Lakewood Court Coppell, TX 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1982
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.17
    •  
  • 144 Heather Glen Drive Coppell, TX 5
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
PROPERTY LISTING DETAILS
Kirk Windahl
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520486
Last Updated: 02/27/2021
BESbswy