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Days36Days on Market
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$4,200,000

115 Luther Ln, Heath, TX, 75032

On MarketInfo
Beds4 Beds
Baths2 Bath
Baths5,579 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$752.82 / sqft
Year BuiltBuilt in 2021

Property Lead Type:

BankruptcyPre-ForeclosureAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating ElectricHeating Electric
AppliancesRefrigerator, Built-In Refrigerator, Dishwasher, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Gas Water Heater, Convection Oven, Double Oven, Tankless Water Heater, Vented Exhaust Fan, Wine Cooler
FlooringWood

Exterior

Exterior FeaturesAwning(s), Balcony, Boat Slip, Dock, Fire Pit, Rain Gutters, Outdoor Kitchen, Storage, Outdoor Grill
Lot Size41,905 sqft

Building Information

Year Built1987
Stories1
Garage Spaces6

Land Information

APN4910-000B-0008-00-0R
Lot Number1,8
SubdivisionSeabolt #1
Land UseResidential
Legal DescriptionSEABOLT #1, BLOCK B, LOT 8
Census Tract040511
Assessed Land Value$1,755,650
Assessed Improvement Value$1,042,300
Assessment Year2025

About this property

Custom waterfront residence on Lake Ray Hubbard with approximately 5,600 square feet, 233 feet of waterfront, and a separate guest suite. Main residence includes 4 bedrooms, 4 full bathrooms, and 1 half bathroom. Guest suite includes an additional bedroom and bathroom. Main level features a primary suite, secondary bedroom with private bathroom, living area, media room, exercise room, and powder bathroom. Upper level includes 2 bedrooms, each with a private bathroom. Hardwood flooring throughout most of the home with carpet in the media room. Waterfront features include a private dock, boat lift, jet ski lift, seawall, and dredged water access. Property includes lake water rights with a pump supplying the irrigation system. Outdoor amenities include a pool, pool bathroom, outdoor fireplace, retractable screens, travertine decking, and LaCantina sliding door system connecting interior and exterior living areas. Garage configuration includes a standard garage, an oversized garage with additional height suitable for RV or boat storage, and a separate climate controlled two car garage with increased ceiling height designed to accommodate a vehicle lift. The additional garage is insulated, and all garage doors are insulated. Additional features include mature oak trees, custom exterior lighting, holiday lighting infrastructure, extensive storage, pier and beam foundation, buried propane tank, septic system with leach field, and waterfront views from multiple living areas and bedrooms.

Investor Tools

Property Icon
$2,797,950
Estimated Property Value
$1,515,200Estimated Mortgage Balance
$524,826Estimated Equity
46% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$25,200 /month
Positive
Cash Flow Estimate:
$8,400 /month

Interested in this property?

Jack McLemore

Listing Results, LLC

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$3,713/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$30,561
$2,797,950
2025
$1,755,650
$1,042,300
$2,797,950
No

Tax History

Year
Tax Paid
Assessed Value
2024
$30,561
$2,797,950

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cendera Bank Na
Unknown
$972,000
No
First
Dec 29, 2020
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$2,273,124
$524,826
18%
81%
$14,913/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,010/mo
$14,913/mo
$-11,903/mo
1.3%

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: Heath

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115 Luther Ln | Property Details | No Agent List