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423 Spanish Moss Court Coppell, TX 75019

4 Beds 3 Baths 3,047 sqft Built 1988

$499,900

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $164.06
  • 4 Days on Market
  • MLS # : 14480476
  • Updated Date : 12/03/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,047 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Stunningly well maintained, two story home on cul-de-sac lot! Fabulous floor plan tied together by extensive hard-surface floors! From the bright kitchen to the family room featuring a cozy fireplace, staying connected with friends and family is easy & effortless. Gorgeous master suite features separate jetted tub & shower & plenty of storage with large walk in closet. Huge upstairs living space makes for a great game room or media room. Secondary bedroom w adjacent full bath downstairs. Spectacular backyard features lush landscaping & awesome play pool. Excellent location close to top rated schools, shopping, restaurants, easy access to major freeways, and just mins from DFW airport.

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
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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$1,844
Property Tax -$1,119
Property Insurance -$203
Property Management Fees -$99
CASH FLOW
-$446

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.

$499,900

PROJECTED PRICE

$2,820

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$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$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,918

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8003$2,8204$2,8905$3,300
$3,300
RENT COMPS ANALYSIS
  • 423 Spanish Moss Court Coppell, TX 3
    • 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,047 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $0.93
    •  
  • 454 Harris Street Coppell, TX 1
    • 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 1990
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 130 Oakbend Drive Coppell, TX 2
    • 4 beds 3 baths ∙ 2,894 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,894 Sqft ∙ Built 1994
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 156 Bricknell Lane Coppell, TX 4
    • 5 beds 3 baths ∙ 3,089 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,089 Sqft ∙ Built 1998
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.94
    •  
  • 509 Halifax Lane Coppell, TX 5
    • 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 1990 4 beds 3 baths ∙ 3,228 Sqft ∙ Built 1990
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lucile Bangerter
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480476
Last Updated: 12/03/2020
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