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$1,500,000

1389 Highway 290 E, Elgin, TX, 78621

On MarketInfo
Beds4 Beds
Baths2 Bath
Baths2,703 Sq Ft
price_per_sqft$554.94 / sqft
Year BuiltBuilt in 1958

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms 2Bathrooms 2
CoolingCooling
AppliancesSee Remarks
FlooringConcrete, Laminate, Tile, Wood

Exterior

Exterior FeaturesNone
Lot Size10.75 acres

Building Information

Year Built2004
Roof Type105
Garage Spaces4

Land Information

APNR10714
SubdivisionBlack, Joseph
Land UseResidential
Legal DescriptionA86 BLACK, JOSEPH, ACRES 10.7540
Census Tract950505
Assessed Land Value$295,436
Assessed Improvement Value$355,270
Assessment Year2025

About this property

Are you looking for a commercial location on one of the busiest highways in Texas between Austin and Houston? Welcome to 1389 Highway 290 E. in Elgin, Texas. This unrestricted +/- 10.75-acre property offers incredible flexibility and endless potential for commercial, residential, investment, or mixed-use opportunities in one of Central Texas’ fastest-growing corridors.The property features a residential component offering over 2,500 square feet per owner, which could serve as office space, living quarters, or a combination of both. Also included is a 2,400-square-foot red iron steel building with two roll-up doors (12x12 and 8x16 with electric opener), ideal for warehousing, equipment storage, workshop space, or business operations.Additional improvements include a well that is in working order with a transferable 5-year warranty. The well pump, controller, and motor have all been recently replaced. The irrigation system is also currently operational. Conveniently located approximately 7 miles from downtown Elgin, 17 miles from Bastrop, 35 miles from Austin-Bergstrom International Airport, 32 miles from downtown Austin, 25 miles from the Samsung facility in Taylor, and 30 miles from the Tesla plant, this property is positioned perfectly to benefit from the tremendous growth happening throughout Central Texas. Buyer and/or buyer’s agent to verify all information including measurements, intended use, restrictions, utilities, and development requirements.

Investor Tools

$122,436Estimated Mortgage Balance
$542,961Estimated Equity
81% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$9,000 /month
Positive
Cash Flow Estimate:
$3,000 /month

Interested in this property?

Cecilia Whitley

Sterling & Associates R.E.

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$935/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,897
$650,706
2025
$295,436
$355,270
$650,706
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,897
$650,706

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Regions Bank
Credit Line (Revolving) / Heloc
$127,000
No
First
May 7, 2024
Jun 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$122,436
$528,270
81%
18%
$762/mo

City: Elgin

1389 Highway 290 E | Property Details | No Agent List