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$350,000

1485 Rainbow Parke Dr, Round Rock, TX, 78665

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,744 Sq Ft
price_per_sqft$200.69 / sqft
Year BuiltBuilt in 2006

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Free Standing Range, Disposal, Gas Range, Microwave, Refrigerator
FlooringCarpet, Tile

Exterior

Exterior FeaturesNo Exterior Steps

Building Information

Year Built2006
Stories1
Garage Spaces2

Land Information

APNR-16-5047-000C-0038
Lot Number38
SubdivisionRainbow Parke
Land UseResidential
Legal DescriptionS8693 - RAINBOW PARKE, BLOCK C, LOT 38
Census Tract021511
Assessed Land Value$80,000
Assessed Improvement Value$271,877
Assessment Year2025

About this property

A single-story brick home offering 1,744 square feet on a 7,602 square foot lot in the established Rainbow Parke community on the east side of Round Rock. Built in 2006, the home lives all on one level with no stairs, three bedrooms, two full baths, central heat and air, and a two-car garage. The main living, dining, and kitchen areas stay open and connected, with the bedrooms set off to the side for quiet and separation. The secondary bedrooms are sized well for guests, a home office, a workout room, or a hobby space, and the two-car garage plus a full driveway leave plenty of room to park. Out back, the yard on a 7,602 square foot lot leaves space for a patio, a garden, or weekend projects, and the single-level layout means easy, step-free living from the driveway to the back door. Location is the quiet advantage. Rainbow Parke sits minutes from Old Settlers Park and the Dell Diamond, with quick access to US-79 and Interstate 35, and the SH-130 tollway a short drive east for a clear run toward the airport and greater Austin. Kalahari Resort, the Round Rock Premium Outlets, IKEA, HEB, and a long run of restaurants and everyday errands are all within a few minutes, and the area's major employers keep rental demand steady. It is a practical, low-maintenance single-story in one of the region's steadiest submarkets. The numbers work for an owner-occupant or an investor. Comparable homes in the area rent in the neighborhood of $2,000 a month, so it pencils as a straightforward buy-and-hold in a rental market with consistent demand, and the brick single-story construction keeps upkeep light for a long-term owner. Priced to sell in a corridor that keeps drawing steady relocation from across the Austin metro.

Investor Tools

$212,947Estimated Mortgage Balance
$140,197Estimated Equity
39% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,111 /month
Positive
Cash Flow Estimate:
$704 /month

Interested in this property?

Derek Smith

Deal Smith Realty LLC

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$636/month
$115/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,879
$351,877
2025
$80,000
$271,877
$351,877
No

Tax History

Year
Tax Paid
Assessed Value
2025
$5,879
$351,877

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Security National Mortgage Co
Fha
$236,823
Yes
First
Jan 29, 2021
Feb 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$212,947
$138,930
39%
61%
$1,420/mo

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: Round Rock

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1485 Rainbow Parke Dr | Property Details | No Agent List