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$405,000

2740 Ridgelake Lane, McLendon Chisholm, TX, 75032

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,560 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$259.62 / sqft
Year BuiltBuilt in 1984

Property Lead Type:

BankruptcyPre-ForeclosureAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms 2Bathrooms 2
Garage AvailableGarage Available
CoolingCooling
AppliancesDishwasher, Electric Range
FlooringOther, Vinyl

Exterior

Exterior FeaturesStorage
Lot Size1.50 acres

Building Information

Year Built1985
Stories1
Roof Type105
Garage Spaces3

Land Information

APN0167-0000-0004-06-0R
SubdivisionH K Newell
Land UseAgriculture / Farming
Legal DescriptionA0167 H K NEWELL, TRACT 4-06, ACRES 1.5, (PT OF 5 AC TR)
Census Tract040513
Assessed Land Value$97,500
Assessed Improvement Value$210,605
Assessment Year2025

About this property

Acreage, Acreage, Acreage… Experience this rare opportunity to own a charmingly rustic 3-bedroom, 2-bath farm-style residence set on 5 amazing acres in McLendon-Chisholm. A wide, welcoming covered porch introduces the home with timeless charm and sets the stage for country-style living. Inside, the spacious living room centers around a striking rock fireplace, creating an inviting focal point for gatherings. The nicely appointed kitchen and thoughtfully placed dining area offer a seamless blend of comfort, warmth, and everyday functionality. The property’s exterior amenities elevate its appeal, including a 3-car detached garage, a generous storage or workshop building, a barn ready for your animals, and a serene pond that enhances the landscape with natural beauty. With 5 acres at your disposal, you’ll enjoy ample space to roam and the potential for an additional dwelling if desired. Perfectly positioned near Rockwall, you’ll enjoy convenient access to schools, shopping, dining, entertainment, medical services, and more, all while maintaining the tranquility of a rural-like retreat. Quick access to I-30 facilitates a pleasant commute. This is a Fannie Mae HomePath Property…View it today.

Investor Tools

Property Icon
$308,105
Estimated Property Value
$0Estimated Mortgage Balance
$699Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,430 /month
Positive
Cash Flow Estimate:
$810 /month

Interested in this property?

Nan Riter

Riter Group

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$525/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,758
$308,105
2025
$97,500
$210,605
$308,105
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,758
$308,105

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Highlands Residential Mortgage Ltd
Conventional
$349,600
No
First
May 13, 2020
Jun 2050

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$307,406
$699
0%
100%
$2,097/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: McLendon Chisholm

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2740 Ridgelake Lane | Property Details | No Agent List