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$274,000

224 Private Road 5515, Palestine, TX, 75801

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,436 Sq Ft
TimeshareTimeshare
price_per_sqft$201.88 / sqft
Year BuiltBuilt in 1964

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms 2Bathrooms 2
AppliancesMicrowave, Dishwasher, Refrigerator
FlooringCarpet, Laminate, Wood

Building Information

Year Built1964

Land Information

APN61392
Lot Number23
SubdivisionLake Mary
Land UseResidential
Legal DescriptionLAKE MARY LOT 23 (IMPROVEMENTS ONLY)
Census Tract951001
Assessed Improvement Value$103,948
Assessment Year2025

About this property

Looking for serenity and your own slice of Heaven? Look no further. This 2 bed (potential 3rd) 2 bath home, is surrounded by towering pines. Main home offers large open concept kit/dining/living area with lots of natural lighting from large windows overlooking the beautiful private lake. Free standing fireplace adds to the cozy ambiance. Kitchen boasts subway tile with charming farmhouse sink. Primary en-suite bathroom features large soaking tub and walk in shower. Laundry room w/ washer & dryer. Enjoy your morning coffee from the attached covered patio deck with breathtaking views. Stroll down a stone walkway through the picturesque yard with gorgeous views from large deck situated directly on lake. Enjoy family outings around fire pit while paddle boating, fishing or setting for lazy summer days. Come sit and enjoy the swing next to 3rd bed or office area. Gated Community for privacy.

Investor Tools

Property Icon
$274,000
Estimated Property Value
$0Estimated Mortgage Balance
$274,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,739 /month
Positive
Cash Flow Estimate:
$580 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$146/month
$1,000/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$382
$103,948
2025
N/A
$103,948
$103,948
Yes (2023)

Tax History

Year
Tax Paid
Assessed Value
2025
$382
$103,948

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$207,000
100%
0%
$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: Palestine

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224 Private Road 5515 | Property Details | No Agent List