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$342,000

NAL Estimated Property Value

1617 Lorraine Dr, Plano, TX, 75074

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,407 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$248.75 / sqft
Year BuiltBuilt in 1969

Property Lead Type:

BankruptcyPre-ForeclosureOff-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Cooktop, Microwave
FlooringCarpet, Ceramic Tile, Vinyl

Building Information

Year Built1969
Stories1
Roof Type105
Garage Spaces2

Land Information

APNR-0014-005-0220-1
Lot Number22
SubdivisionArmstrong Park No 2 (Cpl)
Land UseResidential
Legal DescriptionARMSTRONG PARK NO 2 (CPL), BLK 5, LOT 22
Census Tract032003
Assessed Land Value$70,000
Assessed Improvement Value$221,272
Assessment Year2025

About this property

Welcome to 1617 Lorraine Dr—an updated, move-in ready gem nestled in the heart of Plano. From the moment you arrive, you’ll notice the home’s modern white brick exterior, extended driveway for extra parking, and a charming covered front porch perfect for relaxing evenings. Step inside to a bright, open living area with soaring vaulted ceilings that create an airy, inviting atmosphere. Natural light pours in through large rear-facing windows and sliding glass doors, seamlessly connecting the living space to the oversized backyard. The kitchen features ample counter space, built-in appliances including a new dishwasher and oven, and oversized windows that fill the space with sunlight. Whether you're entertaining or cooking for the family, this layout is both functional and welcoming. Outside, enjoy a spacious backyard with mature trees for natural shade, a large extended patio, and a covered gazebo—perfect for outdoor living year-round. The home has seen extensive updates including new sewer lines, HVAC system (AC and heat), fresh interior paint, updated flooring, foundation work, a French drain system, a new garage door, and more—offering peace of mind and modern comfort. Inside, you’ll find generously sized bedrooms with flexible space for rest, work, or play. Located in a desirable Plano neighborhood with convenient access to schools, shopping, and dining, this home combines thoughtful upgrades with everyday functionality.

Investor Tools

Property Icon
$342,000
Estimated Property Value
$327,637Estimated Mortgage Balance
$14,363Estimated Equity
4% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,100 /month
Positive
Cash Flow Estimate:
$700 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$460/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,807
$291,272
2025
$70,000
$221,272
$291,272
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,807
$291,272

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
American Bank Of Commerce
Conventional
$332,500
No
First
Jul 23, 2025
Aug 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$327,637
$14,363
4%
96%
$1,994/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.

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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: Plano

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1617 Lorraine Dr | Property Details | No Agent List