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$405,000

NAL Estimated Property Value

1590 Machen Ln, Gilmer, TX, 75644

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,781 Sq Ft
price_per_sqft$263.34 / sqft
Year BuiltBuilt in 2006

Property Lead Type:

Absentee Owner

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms 2Bathrooms 2
AppliancesDishwasher, Microwave, Refrigerator, Electric Water Heater, Disposal, Gas Range, Gas Oven
FlooringVinyl, Carpet

Exterior

Lot Size14.72 acres

Building Information

Year Built2006
Garage Spaces2

Land Information

APN71332
Land UseResidential
Legal DescriptionABS A135 DERRICK, JOSEPH,TRACT 4-1, 14.72 ACRES (+.17 AC IN RD) & HOUSE
Census Tract950301
Assessed Land Value$133,950
Assessed Improvement Value$217,700
Assessment Year2025

About this property

Welcome to this charming 2-bedroom, 2-bath barndominium situated on nearly 15 acres just minutes from Lake Gilmer. Tucked away from the road, a long private driveway leads you to this peaceful retreat, surrounded by beautifully maintained grounds and endless possibilities. Inside, you'll find a thoughtfully refreshed interior featuring a crisp neutral color palette, updated flooring, and inviting character throughout. The open-concept living area flows seamlessly into the spacious kitchen, complete with abundant cabinetry, a large bar-style island, and newer appliances—perfect for entertaining or everyday cooking. The primary suite offers a relaxing escape with a soaking tub and a generously sized walk-in closet. The oversized guest bedroom uses the hall bath with a walk-in shower, providing comfort and privacy for family or visitors. A standout feature of the property is the oversized 30 X 40 enclosed 2-car garage with 14 foot doors, which has been fully enclosed and upgraded with two new garage door bays, offering excellent storage, workspace, or equipment housing options. For added peace of mind, a Generac generator is already installed, ensuring you're prepared and comfortable during power outages. With an agricultural exemption already in place, the 14.72-acre property is ideal for a variety of uses, including hay production, hunting, recreation, or simply enjoying wide-open space and country living. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this unique property delivers charm, functionality, and room to roam. As an added bonus, the tractor is available for purchase separately, making it even easier to maintain and enjoy the property from day one. Don't miss your chance to experience all this exceptional property has to offer—a true must-see!

Investor Tools

Property Icon
$405,000
Estimated Property Value
$423,895Estimated Mortgage Balance
$405,000Estimated Equity
0% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,814 /month
Positive
Cash Flow Estimate:
$938 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$410/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,893
$351,650
2025
$133,950
$217,700
$351,650
No

Tax History

Year
Tax Paid
Assessed Value
2025
$2,893
$351,650

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Waterstone Mortgage Corp
Fha
$441,849
Yes
First
Feb 14, 2024
Mar 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$423,895
N/A
0%
105%
$2,650/mo

City: Gilmer