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6431 Mountain Peak Court Midlothian, TX 76065

4 Beds 3 Baths 2,785 sqft Built 2007

$474,997

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $170.56
  • 4 Days on Market
  • MLS # : 14535135
  • Updated Date : 03/19/2021 at 21:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,785 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

METICULOUSLY MAINTAINED 4 BEDROOM + OFFICE, 3 FULL BATH, 3 CAR GARAGE HOME FEATURING HEATED GUNITE SALTWATER POOL, DIVING ROCK, SPA & POOL PERIMETER FENCING IS READY FOR YOUR FAMILY TO ENJOY! GORGEOUS CUSTOM ENGINEERED WOOD FLOORS, NEW CARPET, CROWN MOLDING, WOODBURNING FIREPLACE, OVERSIZED LAUNDRY RM CONNECTS TO MASTER SUITE WITH ROOM FOR FRIDGE OR FREEZER, TONS OF STORAGE SPACE & SO MUCH MORE! BONUS RM UPSTAIRS DOUBLES AS A 4TH BEDROOM & GAME RM WITH FULL BATH & CLOSET. NO HOA! WALKING PATH TO PARK JUST ACROSS THE STREET. LOCATED ON CULDESAC STREET! PRICED TO SELL, THIS ONE WON’T LAST LONG! **OFFERS DUE BY 5PM ON MARCH 20TH**

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

Neighborhood: Mountain View South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Mountain View South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262388

* 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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$427,497$522,497$474,997

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,650
Property Tax -$1,037
Property Insurance -$188
Property Management Fees -$99
CASH FLOW
-$374

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.

$474,997

PROJECTED PRICE

$2,600

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$131,624

INVESTMENT

$131,624

Down Payment
$118,749
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,749
Loan Amount $356,248
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,660

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,600
$2,600
RENT COMPS ANALYSIS
  • 6431 Mountain Peak Court Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 5621 Leander Way Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 5213 Leander Way Midlothian, TX 2
    • 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mary Eubanks
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535135
Last Updated: 03/19/2021
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