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B+
NoAgentList RatingHow are grades calculated? Info
Days117Days on Market
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$2,450

1928 Michelle Creek Dr, Little Elm, TX, 75068

On MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,409 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$1.02 / sqft
Year BuiltBuilt in 2008

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Bathrooms Half 1Bathrooms Half 1
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesGas Oven, Gas Range, Microwave

Exterior

Lot Size10,685 sqft

Building Information

Year Built2008
Stories2
Roof Type105
Garage Spaces2

Land Information

APNR294945
Lot Number35
SubdivisionPaloma Creek South Ph 6
Land UseResidential
Legal DescriptionPALOMA CREEK SOUTH PH 6 BLK A LOT 35
Census Tract020135
Assessed Land Value$91,273
Assessed Improvement Value$302,411
Assessment Year2025

About this property

For lease only! This incredible 4 bedroom 2.5 bath 2 car garage is set on almost a quarter acre and backs to a Paloma Creek greenbelt. Large backyard is generous for entertaining or relaxing. Open kitchen-living area offers room for family get togethers or entertaining guests. Spacious kitchen has a beautiful oversized Birdseye Maple wood island with farm sink and breakfast bar. Easy to maintain ceramic flooring throughout lower level. Master bedroom and office are downstairs; three bedrooms, flex room and full bath are upstairs. Tenant pays for utilities and yard maintenance. 12 month lease. 1 pet maximum weight 25 lbs. Pet deposit $500 and rent $50 extra. No smoking.

Investor Tools

Property Icon
$393,684
Estimated Property Value
$75,000Estimated Mortgage Balance
$325,585Estimated Equity
81% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,362 /month
Positive
Cash Flow Estimate:
$787 /month

Interested in this property?

Johnny Chang

Strike First Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$871/month
$185/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$8,484
$393,684
2025
$91,273
$302,411
$393,684
No

Tax History

Year
Tax Paid
Assessed Value
2024
$8,484
$393,684

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Jpmorgan Chase Bank Na
Conventional
$75,000
No
First
Jul 23, 2021
Aug 2041

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$68,099
$325,585
82%
17%
$450/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,750/mo
$635/mo
+$3,115/mo
11.4%

Learn About the Market: Opportunity in Texas

Local Market Pages
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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.

Explore Texas Explore This Area
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: Little Elm

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1928 Michelle Creek Dr | Property Details | No Agent List