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$203,000

231 Rea Avenue, Lancaster, TX, 75146

Off MarketInfo
Beds3 Beds
Baths1 Bath
Baths1,004 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$169.22 / sqft
Year BuiltBuilt in 1959

Property Lead Type:

Off-Market ListHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 1Bathrooms Full 1
Garage AvailableGarage Available
Heating GasHeating Gas
CoolingCooling
AppliancesGas Range, Vented Exhaust Fan, Washer
FlooringLaminate, Other

Exterior

Lot Size7,000 sqft

Building Information

Year Built1959
Stories1
Roof Type105
Garage Spaces1

Land Information

APN36042500000690000
Lot Number69
SubdivisionInterurban Heights
Land UseResidential
Legal DescriptionINTERURBAN HEIGHTS LOT 69 INT202100301295 DD10052021 CO-DC 0425000006900 4CN04250000
Census Tract016803
Assessed Land Value$50,000
Assessed Improvement Value$150,350
Assessment Year2025

About this property

Very well maintain 3 bedroom 1 bath with a large backyard. Most of the updates done in 2013-2014 including central air condition and heating, roof, cement siding with insulation in the walls and plywood for reinforcement, all windows replaced. Bathroom updated in 2014, gas plumbing changed 2009. Some of the recent updates include new waterproof flooring installed Sep 1 2021 in living area, kitchen and hallway. Also new ceiling fan in living area, and new vent hood in kitchen. Extended drive way n the side provides for plenty of extra parking space. Hurry this home won't last long!!! MULTIPLE OFFERS RECCEIVED BEST AND FINAL BY FRIDAY AT 5 PM

Investor Tools

Property Icon
$203,000
Estimated Property Value
$0Estimated Mortgage Balance
$46,984Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,218 /month
Positive
Cash Flow Estimate:
$406 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$323/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,857
$200,350
2025
$50,000
$150,350
$200,350
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,857
$200,350

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Everett Financial Inc
Fha
$170,848
Yes
First
Oct 5, 2021
Nov 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$156,016
$46,984
23%
77%
$1,025/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,972/mo
$1,025/mo
+$947/mo
11.7%

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: Lancaster

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231 Rea Avenue | Property Details | No Agent List