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$221,260

NAL Estimated Property Value

1309 Melrose St, Garland, TX, 75040

Off MarketInfo
Beds3 Beds
Baths1 Bath
Baths1,289 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$164.47 / sqft
Year BuiltBuilt in 1960

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Range
FlooringCarpet

Exterior

Lot Size7,680 sqft

Building Information

Year Built1940
Stories1
Roof Type105
Garage Spaces1

Land Information

APN26405500010030000
Lot Number3
SubdivisionNorth Star
Land UseResidential
Legal DescriptionNORTH STAR BLK A LT 3 CO-DALLAS 4055000100300 32640550001
Census Tract018801
Assessed Land Value$65,000
Assessed Improvement Value$156,260
Assessment Year2025

About this property

Nice 3 bedroom home located just north of downtown Garland! The home features a spacious living area, 3 bedrooms, 2 dining areas, large kitchen and nice bath! This home has had the garage converted which allows for the additional dining area and utility closet! The kitchen has been updated, from the original design. The back yard features a 15 x 13 covered patio area, ample yard space, and a 15 x 13 detached building, complete with electricity! Easy access to the George Bush and Firewheel Town Center! Come view this home today!

Investor Tools

Property Icon
$221,260
Estimated Property Value
$214,120Estimated Mortgage Balance
$7,140Estimated Equity
3% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,328 /month
Positive
Cash Flow Estimate:
$443 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$226/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,607
$221,260
2025
$65,000
$156,260
$221,260
No

Tax History

Year
Tax Paid
Assessed Value
2024
$1,607
$221,260

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Everett Financial Inc
Fha
$216,015
Yes
First
Oct 11, 2024
Nov 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$214,120
$7,140
3%
97%
$1,322/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,972/mo
$1,322/mo
+$650/mo
10.7%

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.

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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: Garland

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1309 Melrose St | Property Details | No Agent List