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$650,000

181 Cherokee Dr, New Hope, TX, 75071

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,667 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$243.72 / sqft
Year BuiltBuilt in 2017

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 3Bathrooms Full 3
AppliancesDishwasher, Disposal, Electric Oven, Gas Range, Microwave

Exterior

Lot Size13,939 sqft

Building Information

Year Built2017
Stories2
Garage Spaces2

Land Information

APNR-0823-005-0050-1
Lot Number5
SubdivisionSmith & Mullins Country Estates Second I
Land UseResidential
Legal DescriptionSMITH & MULLINS COUNTRY ESTATES SECOND INSTALLMENT (CNH), BLK 5, LOT 5
Census Tract030201
Assessed Land Value$80,000
Assessed Improvement Value$488,828
Assessment Year2025

About this property

Welcome to this stunning modern-style home nestled in the charming community of New Hope within the highly acclaimed McKinney ISD. This meticulously designed home offers a seamless blend of contemporary aesthetics and practical living. Boasting an array of energy-efficient features, this home is crafted to reduce your carbon footprint while maximizing comfort. Step inside to discover a bright, open floor plan that exudes modern elegance. The spacious living area is accentuated by sleek finishes, high ceilings, and large windows that flood the home with natural light. The gourmet kitchen is equipped with high end appliances, granite countertops, and ample cabinetry. Outside, you'll find a beautifully landscaped yard with minimal maintenance requirements & an elegant, covered patio with stone fireplace ideal for unwinding after a long day. It’s also just minutes from historic, downtown Mckinney. This modern home in New Hope represents the perfect fusion of style and convenience.

Investor Tools

Property Icon
$568,828
Estimated Property Value
$562,500Estimated Mortgage Balance
$0Estimated Equity
1% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,900 /month
Positive
Cash Flow Estimate:
$1,300 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$854/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,406
$568,828
2025
$80,000
$488,828
$568,828
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,406
$568,828

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Change Lending Llc
Conventional
$562,500
No
First
Apr 1, 2025
May 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,103,502
N/A
0%
194%
$6,746/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: New Hope

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181 Cherokee Dr | Property Details | No Agent List