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5040 Diamond Peak Court Mckinney, TX 75071

4 Beds 2 Baths 2,045 sqft Built 2010

$310,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $151.59
  • 3 Days on Market
  • MLS # : 14540862
  • Updated Date : 03/27/2021 at 13:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,045 sqft
  • Baths : 2 full
Listing Agent

Insight Realty Network

Listing Agent's Description

Great 4 bedroom DR Horton home with community pool in Prosper ISD! The split floorplan features a formal dining room or 2nd living area, master suite at the rear of the home, two bedrooms off the hall, and 4th bedroom towards the front that could be an ideal office space. A large open kitchen with a breakfast bar, tons of cabinets, and great counter space overlooks the breakfast area and family room with views of the backyard and oversized extended patio. Must see! TO SCHEDULE A SHOWING, PLEASE CONTACT MARY W. at 469-585-2526. MULTIPLE OFFER NOTICE BEST AND FINAL BY SUNDAY MARCH 28 @ 7:00 PM

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

Neighborhood: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Summit View Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10382171

* 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
John A. Baker Elementary School Primary Regular 698 53 8
Prosper High School High Regular 1,868 120 9
John A. Baker Elementary School Primary Unknown NA

John A. Baker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 53
8
GreatSchools Rating

Prosper High School

  • Education Level: High
  • # of students: 1,868
  • # of teachers: 120
9
GreatSchools Rating

John A. Baker Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,077
Property Tax -$584
Property Insurance -$145
HOA -$46
Property Management Fees -$99
CASH FLOW
-$81

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.

$310,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8703$1,8904$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 5040 Diamond Peak Court Mckinney, TX 2
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.91
    •  
  • 5005 Old Oak Drive Mckinney, TX 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.99
    •  
  • 5028 Diamond Peak Court Mckinney, TX 3
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.94
    •  
  • 5104 Promised Land Drive Mckinney, TX 4
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.94
    •  
  • 5012 Diamond Peak Court Mckinney, TX 5
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2011
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brian Fisher
Insight Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540862
Last Updated: 03/27/2021
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