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$559,000

NAL Estimated Property Value

1415 Phelps Lake Dr, Rockwall, TX, 75087

Off MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,332 Sq Ft
price_per_sqft$242.24 / sqft
Year BuiltBuilt in 2014

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating GasHeating Gas
CoolingCooling
AppliancesDishwasher, Disposal, Electric Cooktop, Gas Water Heater, Microwave, Refrigerator, Washer
FlooringCeramic Tile, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesAwning(s), Built-in Barbecue, Rain Gutters, Outdoor Grill
Lot Size9,104 sqft

Building Information

Year Built2014
Stories1
Garage Spaces2

Land Information

APN3263-000T-0004-00-0R
Lot Number4
SubdivisionCaruth Lakes Phase 8a
Land UseResidential
Legal DescriptionCARUTH LAKES PHASE 8A, BLOCK T, LOT 4, (REPLAT 2014)
Census Tract040202
Assessed Land Value$150,000
Assessed Improvement Value$332,559
Assessment Year2025

About this property

Inviting & Immaculate 1-Story Gem in the Heart of North Rockwall! This beautifully maintained single-story home on a spacious corner lot just under a quarter-acre truly stands out with unmatched curb appeal. From the moment you arrive, the well-manicured landscaping and exotic plants create a warm and welcoming atmosphere. Inside, you'll find 4 generously sized bedrooms and 3 full bathrooms, offering the perfect layout for comfort and functionality. The dedicated office, complete with elegant French doors, provides a private and quiet space—ideal for remote work or managing daily tasks. Entertain with ease in the oversized dining room, perfect for intimate dinners or lively family game nights. The open-concept floor plan fosters a social atmosphere, making it easy to stay connected with family and guests. The kitchen is a chef’s dream, featuring stainless steel appliances, a central island for meal prep, a trough-style sink, a butler’s area, and abundant cabinet space. The thoughtful layout includes two bedrooms sharing a full bath but separated Jack and Jill sinks, a separate guest bedroom with access to a full bath, and a luxurious master suite with a spacious ensuite bath, and an oversized walk-in closet. Step outside to your own backyard paradise! The custom cedar-plank covered patio includes a built-in grill and outdoor living area that overlooks a modern-style heated (gunite) saltwater pool and spa. Relax in style with extensive concrete decking, a gas fire pit with custom bench seating, and low-maintenance artificial turf that completes this dream backyard. This move-in-ready home is a rare find and won’t last long—schedule your private tour today!

Investor Tools

Property Icon
$559,000
Estimated Property Value
$0Estimated Mortgage Balance
$559,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,389 /month
Positive
Cash Flow Estimate:
$1,130 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$759/month
$288/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,313
$482,559
2025
$150,000
$332,559
$482,559
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,313
$482,559

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$559,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,010/mo
$288/mo
+$2,722/mo
6.5%

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: Rockwall

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