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Days39Days on Market
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$399,000

242 Cody Lane, Bastrop, TX, 78602

On MarketInfo
Beds1 Beds
Baths1 Bath
Baths640 Sq Ft
price_per_sqft$623.44 / sqft
Year BuiltBuilt in 1988

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 1Bedrooms 1
Bathrooms Full 1Bathrooms Full 1
AppliancesGas Range
FlooringWood

Exterior

Exterior FeaturesStorage
Lot Size15.00 acres

Building Information

Year Built1988
Stories1
Roof Type112

Land Information

APNR24165
SubdivisionWallace, Jas P
Land UseResidential
Legal DescriptionA365 A365 - WALLACE, JAS. P., ACRES 14.997
Census Tract950505
Assessed Land Value$397,470
Assessed Improvement Value$23,954
Assessment Year2025

About this property

Approximately 15 acres of secluded, wooded land just minutes from Lake Bastrop, ideally located between US-290, TX-21, and TX-95 for easy access across the Texas Triangle. Situated near the dead end of privately maintained Cody Lane, this quiet property features mature oaks, pines, cedars, hardwoods, elevation changes, a wet-weather creek, and recent clearing that opened trails and removed yaupon. A loft-style cabin on stilts offers approximately 640 sq ft with a full kitchen, new gas range, and a full bath with updated vanity and fixtures. The lower level provides covered parking for vehicles, boats, or equipment, plus a private room that could serve as a second bedroom. Utilities include Bluebonnet Electric, conventional septic, and a 10,000-gallon rainwater collection system supplying the home. Unrestricted with sandy loam soils and fertile creek beds, ideal for homesteading, off-grid living, short-term rentals, or a peaceful weekend retreat.

Investor Tools

$73,039Estimated Mortgage Balance
$371,961Estimated Equity
83% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,670 /month
Positive
Cash Flow Estimate:
$890 /month

Interested in this property?

Melanie Moore

Armstrong Properties

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$767/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,981
$421,424
2025
$397,470
$23,954
$421,424
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,981
$421,424

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Capital Farm Credit Aca
Open End Mortgage / Open End With Future Advance Clause
$110,500
No
First
Nov 17, 2011
Dec 2041

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$73,039
$371,961
83%
16%
$663/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: Bastrop

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242 Cody Lane | Property Details | No Agent List