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229 Tanbark Circle Coppell, TX 75019

3 Beds 2 Baths 1,867 sqft Built 1986

$349,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $187.41
  • 6 Days on Market
  • MLS # : 14473339
  • Updated Date : 12/01/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful move-in ready 1-story brick home features tons of recent updates including HVAC (2017), main shower & floor (2017), water heater (2019), appliances (2017), gas fireplace logs (2017), bdrm carpet (2017), hallway wood floor (2017), all lighting & some fans (2018), patio doors replaced (2018), fence repair & stained (2020). Vaulted ceilings in the living room & kitchen & light color palette add to the light, airy feel of the home. Rich, wide plank wood-like flooring add to the warmth of the home. Fabulous owners retreat has vaulted ceiling, gorgeous windows and an updated, on-trend en-suite with a frameless shower. The peaceful backyard area has a stone-like patio and walk-way. Don't miss this gem!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Cottonwood Creek Elementary School Primary Regular 538 36 9
Coppell Middle West Middle Regular 979 62 9
Coppell High School High Regular 3,136 192 8

Cottonwood Creek Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 36
9
GreatSchools Rating

Coppell Middle West

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 62
9
GreatSchools Rating

Coppell High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,291
Property Tax -$783
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
-$178

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.

$349,900

PROJECTED PRICE

$2,130

PROJECTED RENT

0.61%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,1503$2,1954$2,2005$2,345
$2,345
RENT COMPS ANALYSIS
  • 229 Tanbark Circle Coppell, TX 1
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.14
    •  
  • 527 Hawken Drive Coppell, TX 2
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 2000
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.19
    •  
  • 245 Tanbark Circle Coppell, TX 3
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1986
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.17
    •  
  • 404 Leisure Lane Coppell, TX 4
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1987
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
  • 129 Branchwood Trail Coppell, TX 5
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1994
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.17
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473339
Last Updated: 12/01/2020
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