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$397,000

NAL Estimated Property Value

187 Spence Ln, Elgin, TX, 78621

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,720 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$113.37 / sqft
Year BuiltBuilt in 1988

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms 2Bathrooms 2
Heating CentralHeating Central
CoolingCooling

Exterior

Lot Size2.50 acres

Building Information

Year Built1992
Stories1
Roof Type112

Land Information

APNR78359
SubdivisionRains, James
Land UseResidential
Legal DescriptionA288 RAINS, JAMES, ACRES 2.5
Census Tract950102
Assessed Land Value$234,092
Assessed Improvement Value$131,137
Assessment Year2025

About this property

PRICE DROP!! Gardner's delight. This property boasts soaring trees, large field and room to spread out. House comes complete with green house, screened in porch, storage building and workshop. Septic connections and utilities available for RV on back corner of lot by work shop. Soil has been tilled & seeded years of luscious grass to come. Some TLC needed, but any notable repairs were addressed at time of need. Foundation leveled in 2013 and AC recently replaced. See SD.Guest Accommodations: Yes Sprinkler Sys:Yes

Investor Tools

Property Icon
$397,000
Estimated Property Value
$62,252Estimated Mortgage Balance
$334,748Estimated Equity
83% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,382 /month
Positive
Cash Flow Estimate:
$794 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$808/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,709
$365,229
2025
$234,092
$131,137
$365,229
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,709
$365,229

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Security National Mortgage Co
Conventional
$171,000
No
First
Jul 24, 2015
Aug 2030

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$62,252
$322,748
83%
16%
$0/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: Elgin

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187 Spence Ln | Property Details | No Agent List