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409 Leisure Lane Coppell, TX 75019

3 Beds 3 Baths 1,661 sqft Built 1988

$307,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $184.83
  • 4 Days on Market
  • MLS # : 14509081
  • Updated Date : 02/06/2021 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

MULTIPLE OFFERS RECEIVED DEADLINE for highest and best IS 10pm Saturday FEB 6th This charming 3 bed 2.5 bath home is nested in the desirable neighborhood of Summer Place in Coppell ISD and is close to schools, shopping and amazing restaurants. Upon entry you will enjoy an open floor plan, with hardwood floors and recently replaced carpet throughout in Jan 2021. Restful and Spacious master bedroom includes an ensuite with double sinks, garden tub, separate shower and walk-in closet on the first floor. Large kitchen boasts granite countertops, replaced oven in Jan 2021 and the second living area can be used as a study. Upstairs features 2 bedrooms and a full bath.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Wilson Elementary School Primary Regular 554 38 7
Coppell Middle West Middle Regular 979 62 9
Coppell High School High Regular 3,136 192 8

Wilson Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 38
7
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
 

$276,300$337,700$307,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,066
Property Tax -$687
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$36

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.

$307,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9503$2,0004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 409 Leisure Lane Coppell, TX 1
    • 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.17
    •  
  • 317 Lakewood Court Coppell, TX 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1982
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.17
    •  
  • 515 E Leisure Court Coppell, TX 3
    • 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1988
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 144 Heather Glen Drive Coppell, TX 4
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1983
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
  • 527 Hawken Drive Coppell, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Shae Nault
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 #: 14509081
Last Updated: 02/06/2021
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