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$387,733

NAL Estimated Property Value

5308 Promised Land Drive, McKinney, TX, 75071

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,801 Sq Ft
price_per_sqft$152.69 / sqft
Year BuiltBuilt in 2006

Property Lead Type:

BankruptcyPre-ForeclosureOff-Market ListHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesElectric Oven, Gas Cooktop, Microwave
FlooringCarpet, Ceramic Tile

Building Information

Year Built2006
Stories1
Garage Spaces2

Land Information

APNR-8754-00C-0150-1
Lot Number15
SubdivisionSummit View Lake Phase One (Cmc)
Land UseResidential
Legal DescriptionSUMMIT VIEW LAKE PHASE ONE (CMC), BLK C, LOT 15
Census Tract030301
Assessed Land Value$110,250
Assessed Improvement Value$277,483
Assessment Year2025

About this property

This gem is BACK ON THE MARKET!! Out of town buyers couldn't move forward. Their loss is your gain! MOVE IN READY!!! PROSPER ISD!! 3 Bedroom 2 bath home in Summit View. Split floor plan. McKinney address with Prosper schools. Fresh paint and new carpet. Large yard on corner lot. Extra space in the front of home can be used as dining area or office. This will not last long. Perfect starter home. ** Please note the HOA Regulations state - Upon acquiring an ownership interest in the residence, the owner may not lease the residence until the expiration of 12 months from the date of purchase or recording of the deed If your buyer is an investor looking for a rental, this is not the right house for them.

Investor Tools

Property Icon
$387,733
Estimated Property Value
$0Estimated Mortgage Balance
$387,733Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,326 /month
Positive
Cash Flow Estimate:
$775 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$671/month
$275/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,111
$387,733
2025
$110,250
$277,483
$387,733
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,111
$387,733

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$387,733
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,700/mo
$275/mo
+$2,425/mo
8.4%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: McKinney

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5308 Promised Land Drive | Property Details | No Agent List