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833 Redcedar Way Drive Coppell, TX 75019

3 Beds 2 Baths 1,687 sqft Built 1983

$320,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $189.69
  • 2 Days on Market
  • MLS # : 14470064
  • Updated Date : 11/21/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,687 sqft
  • Baths : 2 full
Listing Agent

2415 Realty

Listing Agent's Description

You are going to fall in love with this open floor plan with tons of natural light. What a perfect place to work from home. You can put your office in the huge master bedroom or enjoy your large private back yard and sitting area. The master bathroom has been updated and includes a walk in shower. All of the interior doors have also been updated to a beautifully stained wood. The living room is the highlight of the inside with those large windows and french doors paired with the vaulted ceilings the room feels so big and bright. Located in desirable Coppell Woodridge Subdivison and walking distance to Coppell ISD schools.

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
Mockingbird Elementary School Primary Regular 559 34 8
Coppell Middle East Middle Regular 905 55 10
Coppell High School High Regular 3,136 192 8

Mockingbird Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 34
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,181
Property Tax -$722
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$166

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.

$320,000

PROJECTED PRICE

$1,960

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9604$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 833 Redcedar Way Drive Coppell, TX 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.16
    •  
  • 250 Creekside Lane Coppell, TX 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.15
    •  
  • 246 Creekside Lane Coppell, TX 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1984
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
  • 923 Redcedar Way Drive Coppell, TX 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1983
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.18
    •  
  • 317 Springoak Lane Coppell, TX 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1984
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jennifer Millman
2415 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470064
Last Updated: 11/21/2020
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