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$1,697,000

1603 Rainbow St, Southlake, TX, 76092

Off MarketInfo
Beds5 Beds
Baths6 Bath
Baths5,676 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$298.98 / sqft
Year BuiltBuilt in 2001

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 5Bathrooms Full 5
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesRefrigerator, Trash Compactor, Built-In Gas Range, Built-In Refrigerator, Dishwasher, Disposal, Gas Cooktop, Gas Oven, Microwave, Double Oven, Plumbed For Ice Maker, Vented Exhaust Fan, Gas Water Heater, Wine Cooler
FlooringCarpet, Ceramic Tile, Hardwood, Wood, Stone

Exterior

Private PoolPrivate Pool
Exterior FeaturesGas Grill, Rain Gutters, Lighting, Outdoor Grill, Private Yard
Lot Size25,561 sqft

Building Information

Year Built2001
Stories2
Garage Spaces4

Land Information

APN47814-1-9
Lot Number9
SubdivisionWorthing Addition
Land UseResidential
Legal DescriptionWORTHING ADDITION BLOCK 1 LOT 9
Census Tract113957
Assessed Land Value$401,070
Assessed Improvement Value$1,353,449
Assessment Year2025

About this property

AN OFFER HAS BEEN VERBALLY ACCEPTED. Worthing is a special executive neighborhood tucked between Cambridge Place & Versailles, no HOA, and walking distance to Old Union Elementary. It's a short hop to Southlake Town Square & HWY 114. This beautiful custom home sits on over half an acre with a very private & spacious backyard complete with pool, spa, builtin grill area & sport court! Inside there is a temp-controlled wine cellar for the wine enthusiast, formal dining & living, 3 fireplaces, a fantastic kitchen with commercial grade Viking range, large kitchen island with two dishwashers & a generously sized walk in pantry, with a 2nd smaller office behind the breakfast nook area. Master and guest bedrooms down, 3 bedrooms up, plus a full media room and bonus game room. This home will not disappoint! Such a fantastic location, with a brand new circular drive, 4 car garage and double wrought iron doors, this home won't last long.

Investor Tools

Property Icon
$1,999,000
Estimated Property Value
$1,640,000Estimated Mortgage Balance
$500,513Estimated Equity
18% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$11,994 /month
Positive
Cash Flow Estimate:
$3,998 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$3,111/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$27,336
$1,754,519
2025
$401,070
$1,353,449
$1,754,519
No

Tax History

Year
Tax Paid
Assessed Value
2024
$27,336
$1,754,519

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First Financial Bank Na
Conventional
$1,640,000
No
First
Mar 14, 2022
Apr 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,498,487
$500,513
25%
75%
$7,246/mo

Learn About the Market: Opportunity in Texas

Local Market Pages
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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: Southlake

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