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345 Spyglass Drive Coppell, TX 75019

4 Beds 3 Baths 2,466 sqft Built 1993

$475,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $192.62
  • 4 Days on Market
  • MLS # : 14463280
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,466 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Hard to find 4 bedroom 2 and a half bath, single story on large corner lot in highly sought after Waterside Estates. Coppell ISD. Backyard oasis with salt water pool (cell replaced Nov 2020) pergola with ceiling fans and mosquito misting system. Inside, No carpet! Light, bright and open floor plan. Family room with wood burning fireplace. Master bedroom with bay window overlooks pool. Oversized split secondary bedrooms. Full bath with dual sinks. Kitchen includes granite counter tops, stainless steel appliances including wine cooler fridge and double ovens. Fresh Interior Paint, Roof and Gutters replaced November 2020, HVAC 2016. Better hurry. This one is going fast!!!

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: The Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k448k

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

Neighborhood: The Meadows

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
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,753
Property Tax -$1,063
Property Insurance -$170
HOA -$50
Property Management Fees -$99
CASH FLOW
-$485

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.

$475,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,448

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4503$2,5004$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 345 Spyglass Drive Coppell, TX 4
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.07
    •  
  • 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
Nichole Shelton
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463280
Last Updated: 11/05/2020
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