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$412,492

1111 Nortman Dr, Gainesville, TX, 76240

$448,146 ARVInfo
Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,172 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$184.12 / sqft
Year BuiltBuilt in 1998

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Oven, Gas Water Heater, Microwave, Washer
FlooringCarpet, Ceramic Tile

Exterior

Exterior FeaturesRain Gutters
Lot Size23,880 sqft

Building Information

Year Built1998
Roof Type105
Garage Spaces2

Land Information

APN55329
Lot Number6
SubdivisionNortman Estates
Land UseResidential
Legal DescriptionNORTMAN ESTATES; LOT 6; SEC 1
Census Tract000200
Assessed Land Value$70,000
Assessed Improvement Value$346,574
Assessment Year2025

About this property

Home in Highly Sought After Top Rated Lindsay ISD! Price Reduced to $399,900! Seller Motivated, Bring All Offers! Welcome to 1111 Nortman Dr., a beautifully maintained one and a half story home located in the desirable Nortman Estates neighborhood, within the award winning Lindsay ISD. Now offered at a newly reduced price of $399,900, this is an incredible opportunity to own a home in one of the area's most sought after school districts. This charming 3 bedroom, 2 bath home boasts a spacious 2,172 sq ft open floor plan designed for comfortable living and effortless entertaining. The kitchen flows directly into the living area, creating the perfect space for gatherings and family time. A smart split layout places the two guest bedrooms and full bath on one side of the home, while the private primary suite with ensuite bath and nearby laundry room offers a quiet retreat on the other. Set on over half an acre (.548 acres), this property features fantastic curb appeal with a mature shade tree in the front yard and an oversized backyard that backs up to a peaceful open pasture ideal for relaxing or hosting guests. A covered patio and workshop shed add both functionality and charm. Recent updates include, New Roof (Sept 2023) and Fresh Interior Paint. Additional highlights, 2 Car side entry Garage, Move-In Ready Condition. Don’t miss this opportunity to own a home in Lindsay ISD, homes here don’t last long, especially at this price. Seller is highly motivated—bring all offers!

Investor Tools

Property Icon
$412,492
Estimated Property Value
$334,706Estimated Mortgage Balance
$82,681Estimated Equity
19% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$448,146
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,475 /month
Positive
Cash Flow Estimate:
$825 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$657/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,816
$412,492
2025
$70,000
$346,574
$416,574
Yes (2023)

Tax History

Year
Tax Paid
Assessed Value
2024
$5,816
$412,492

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Guild Mortgage Co
Fha
$334,706
Yes
First
Jul 21, 2025
Aug 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$329,811
$82,681
20%
80%
$2,007/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,420/mo
$2,007/mo
$-587/mo
4.1%

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: Gainesville

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1111 Nortman Dr | Property Details | No Agent List