Is everything in this build compatible/makes sense?

I have changed it a bit so it's 50$ more expensive now, but will perform better and last longer.
PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-6500 3.2GHz Quad-Core OEM/Tray Processor ($192.99 @ SuperBiiz)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.38 @ OutletPC)
Motherboard: Gigabyte GA-B150M-DS3H Micro ATX LGA1151 Motherboard ($65.38 @ Newegg)
Memory: Crucial Ballistix Sport 8GB (2 x 4GB) DDR4-2400 Memory ($37.99 @ Adorama)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($47.49 @ OutletPC)
Case: Corsair 200R ATX Mid Tower Case ($55.98 @ Newegg)
Power Supply: XFX XT 500W 80+ Bronze Certified ATX Power Supply ($53.98 @ Newegg)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($16.88 @ OutletPC)
Operating System: Microsoft Windows 10 Home OEM 64-bit ($83.89 @ OutletPC)
Total: $583.96
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2016-07-31 06:40 EDT-0400

Also,
there is no video card. is it on purpose ?
 


The graphics card will be an RX 470
 
Yeah.
May be not on highest settings, but it will.
If you are gaming on 1080p monitor, the GTX 1060 for 250$ would be ideal card, but you can always upgrade the GPU later.
You have a very solid build that will perform great.
Next step would be adding SSD, but guess you already planned that as well :)
 

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