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B+
NoAgentList RatingHow are grades calculated? Info

$275,000

1628 Riverway Ln, Lancaster, TX, 75146

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,612 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$170.53 / sqft
Year BuiltBuilt in 1965

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesGas Range, Gas Water Heater
FlooringCeramic Tile, Hardwood, Linoleum

Exterior

Exterior FeaturesRain Gutters, Storage
Lot Size3.56 acres

Building Information

Year Built1965
Stories1
Roof Type105
Garage Spaces2

Land Information

APN36027500090200000
Lot Number20
SubdivisionEnchanted Forest Unit
Land UseResidential
Legal DescriptionENCHANTED FOREST UNIT 2 BLK I LTS 17-20 REPLAT LOT 20 INT202400199712 DD08222024 CO-DC 0275000902000 4CN02750009
Census Tract016802
Assessed Land Value$48,000
Assessed Improvement Value$172,000
Assessment Year2025

About this property

LOOKING FOR PEACE AND QUIET! Seller in process of getting up to date survey. Home is a 1965 brick home ready for an update. Hardwood floors, pine paneling, wood burning fireplace,3 bedrooms, 2 baths, 2 living areas. Almost new roof and h ac unit. Very livable. Original family owned. Home raised out of flood plain in early 1990's and currently requires no flood insurance on home. New elevation with new flood levels since 2004 flood show house was .2 above flood level. Lender required flood insurance. Most of the other acreage is in a flood plain. Part is mowed with numerous trees including pecans. Balance is lots of trees and undergrowth that could be cleared. Sit on your deck watching nature at its best. Birds, squirrels, few coyotes, maybe bob cats and other critters in your own nature preserve. Barn has about 576 square feet but no electricity and dirt floor. Family does not remember barn flooding in the past. There is a long drive around home to enter the 2-car garage. There is a plan by TRA to install a large sewer line along Riverway in January 2027 with a promise of never blocking access to home. New owner will need to negotiate with TRA for the funds to be paid for this because construction easement is in front yard. Drawing from TRA in documents. If additional building is being considered buyer need to talk to the city building department. Adjustment in price because with many showings and numerous offers over list price required another look at value.

Investor Tools

Property Icon
$275,000
Estimated Property Value
$0Estimated Mortgage Balance
$275,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,650 /month
Positive
Cash Flow Estimate:
$550 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$547/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,188
$220,000
2025
$48,000
$172,000
$220,000
No

Tax History

Year
Tax Paid
Assessed Value
2025
$5,188
$220,000

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$275,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,572/mo
N/A
+$2,572/mo
11.2%

Learn About the Market: Opportunity in Texas

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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: Lancaster

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1628 Riverway Ln | Property Details | No Agent List