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$789,000

17158 CR 285, Arp, TX, 75750

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Exterior

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About this property

A magnificent 3.075 acre waterfront building site on Lake Tyler East with massive open water views. The property features over 750 feet of waterfront with a retaining wall. Not only is there wide open water on the north boundary, but there is also a cove on the east boundary with a pier in place. The land for sale has mature hardwood trees offering a really nice tree-shaded building site. This is a unique opportunity to own a choice waterfront property on one of the finest lakes in East Texas. Lake Tyler was primarily constructed as a water source for Tyler, Texas and as a result offers all forms of boating and fishing opportunities. What's known as Old Lake Tyler (or West Lake Tyler) was constructed in 1949. Lake Tyler East was constructed in 1967, and in 1968 a canal was constructed connecting the two bodies of water. The property is accessed by an established easement from the City of Tyler from County Road 285 that has a one-time fee to process the paperwork. There is an added easement from the entry gate to the property that is in place. Cherokee County Electric is on-site. Potable water comes from a well that the new owner will need to have drilled. In addition, a conventional or aerobic septic system will be needed for wastewater. There are two RVs on the property that will be moved. There are currently several RV spaces on the land around the 3.075 acres that should be moved over time. There are no permanent RV residents, just weekenders and holiday users. The 3.075 acres is restricted to site-built homes only—no mobile homes, manufactured housing, or RV residents. The City of Tyler has established a 100-foot building setback from the property line. This is a first-time offering of this one-of-a-kind waterfront property. Find Your Freedom on Lake Tyler East!

Investor Tools

$0Estimated Mortgage Balance
$789,000Estimated Equity
100% equity
Estimated Cap Rate
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Estimated ARV (After-Repair Value)
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Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,734 /month
Positive
Cash Flow Estimate:
$1,578 /month

Interested in this property?

Carroll Bobo

United Country Legacy Land Company

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Financing Details

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

City: Arp

17158 CR 285 | Property Details | No Agent List