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B+
NoAgentList RatingHow are grades calculated? Info
Days28Days on Market
Views1view

$115,000

$125,000

209 Mcelroy St, Southmayd, TX, 76273

$147,609 ARVInfo
On MarketInfo
Price DropInfo
Beds1 Beds
Baths1 Bath
Baths1,216 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$94.57 / sqft
Year BuiltBuilt in 2000

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 1Bedrooms 1
Bathrooms Half 1Bathrooms Half 1
AppliancesOther

Exterior

Lot Size42,602 sqft

Land Information

APNY002 0463017 01
SubdivisionGuest J J A-G0463
Land UseReal-Residential Mobile Homes
Legal DescriptionG-0463 GUEST J J A-G0463, ACRES 0.978, UNDIVIDED INTEREST 50.0000000000%
Census Tract001101
Assessed Land Value$36,425
Assessed Improvement Value$13,958
Assessment Year2025

About this property

209 McElroy in Southmayd offers a rare opportunity to create your own vision in the heart of small-town Texoma living. Nestled on approximately .978 acres, this property is all about the land, location, and potential. With wide open space, mature surroundings, and peaceful country charm, the possibilities are endless for a future homesite, investment opportunity, or weekend retreat. A storm shelter is already in place, adding valuable functionality and peace of mind. The existing mobile home conveys with no assigned value and presents an opportunity for removal, renovation, or temporary use while you bring your dream to life. Conveniently located just minutes from Sherman, this property combines rural tranquility with quick access to shopping, dining, schools, and major highways. If you have been searching for affordable land in Grayson County with room to grow, imagine, and build your future, this is your chance to own a slice of Texas countryside with unlimited potential. The buyer and the buyer's agent are responsible for all due diligence. See private remarks for contract details. The property is not livable.

Investor Tools

Property Icon
$124,000
Estimated Property Value
$50,952Estimated Mortgage Balance
$94,159Estimated Equity
59% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$147,609
Rent-to-Value Ratio: 0.72%
Rent Estimate
$744 /month
Positive
Cash Flow Estimate:
$248 /month

Interested in this property?

Lisa Hitchcock

Easy Life Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$160/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,300
$42,127
2025
$36,425
$13,958
$50,383
Yes (2023)

Tax History

Year
Tax Paid
Assessed Value
2024
$1,300
$42,127

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
William H Blanton
Seller Carryback / Seller Financing / Seller Take-Back
$50,952
No
First
Aug 1, 2009
Aug 2022

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$29,841
$174,159
85%
24%
$306/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.

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: Southmayd

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209 Mcelroy St | Property Details | No Agent List