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988 Condor Drive Coppell, TX 75019

4 Beds 4 Baths 3,348 sqft Built 1998

INVESTimate

$549,000

List Price

$3,210

$2,960 - $3,460

Rent Est.

$584,026  ( +6.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $163.98
  • 6 Days on Market
  • MLS # : 14415603
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,348 sqft
  • Baths : 3 full , 1 half
Listing Agent

2415 Realty

Listing Agent's Description

Beautiful home in highly desired Northlake Woodlands! This home offers a fantastic open concept with two living areas on the first floor and an updated kitchen that flows directly into the main living area. The expansive primary bedroom is located on the first floor as well. Second level includes three bedrooms, two baths and a large game room ideal for home gym or play area. Executive office with built ins, plenty of storage throughout the entire home. This home also offers great storage throughout! Walking distance to elementary and middle schools.

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: Northlake Woodlands East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k481k

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

Neighborhood: Northlake Woodlands East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262885

* 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
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,026
Property Tax -$1,229
Property Insurance -$221
HOA -$118
Property Management Fees -$99
CASH FLOW
-$482

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.

$549,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.38%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,879

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,749
1$2,7492$2,8003$2,9004$3,1005$3,210
$3,210
RENT COMPS ANALYSIS
  • 988 Condor Drive Coppell, TX 5
    • 4 beds 4 baths ∙ 3,348 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,348 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.96
    •  
  • 1509 Grapevine Creek Drive Coppell, TX 1
    • 5 beds 4 baths ∙ 3,540 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,540 Sqft ∙ Built 1998
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,749
    • $0.78
    •  
  • 102 Elm Fork Drive Coppell, TX 2
    • 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 1998
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 207 Brittany Drive Coppell, TX 3
    • 4 beds 3 baths ∙ 3,131 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,131 Sqft ∙ Built 1997
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
  • 1405 Pine Hurst Drive Coppell, TX 4
    • 4 beds 4 baths ∙ 3,538 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,538 Sqft ∙ Built 2000
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kenny Conoley
2415 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415603
Last Updated: 08/21/2020
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