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Days21Days on Market
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$649,900

$659,900

2834 Midlake Drive, Midlothian, TX, 76065

$685,276 ARVInfo
On MarketInfo
Price DropInfo
Beds4 Beds
Baths4 Bath
Baths3,363 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$193.25 / sqft
Year BuiltBuilt in 2022

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3.5Bathrooms Full 3.5
Garage AvailableGarage Available
Heating CentralHeating Central
AppliancesWater Purifier, Dishwasher, Disposal, Electric Oven, Gas Cooktop, Microwave, Double Oven, Tankless Water Heater, Vented Exhaust Fan
FlooringCarpet, Ceramic Tile, Wood

Exterior

Exterior FeaturesRain Gutters
Lot Size8,712 sqft

Building Information

Year Built2022
Stories1
Roof Type105
Garage Spaces2

Land Information

APN54.9130.008.031.00.108
Lot Number31
SubdivisionThe Lakes Of Somercrest
Land UseResidential
Legal DescriptionLOT 31 BLK 8 THE LAKES OF SOMERCREST 0.2 AC
Census Tract060801
Assessed Land Value$120,000
Assessed Improvement Value$494,357
Assessment Year2025

About this property

Come live in the wonderful gated community known as The Lakes Of Somerset located in Midlothian ISD with its own lake & amazing pavilion for relaxing with friends & family. The home with its attractive brickwork, changing elevations, charming flower beds, appealing solid wood garage doors & 8ft entry door with 6-panel water wave glass offers fantastic curb appeal. Inside, you are welcomed by 12ft ceilings in the foyer with the office located to the left through 8ft French Doors. In fact, when you visit, take a moment to notice that ALL interior doors are upgraded 8ft 6-panel doors AND all closets are walk-in closets. The spacious living room also boasts 12ft ceilings, manufactured wood flooring & gas log fireplace & it opens to the kitchen & dining as well as the backyard due to the telescoping sliding doors which retract to incorporate the large covered patio as add'l living space. The kitchen is a cook's dream with matching s.s. GE appliances including dbl oven with wifi, countertop gas stove, microwave & d.w., 42 inch custom wood cabinets with undermount lighting for beauty & excellent storage. Main walk-in pantry PLUS another storage closet perfect for 2nd walk-in pantry. Kitchen island is approx 11ft x 4ft with more storage & extra seating. Dining rm just off kitchen feels like a resort with THREE walls of windows! What a remarkable place to enjoy dinner or other activities. And the view out the back of the home will remain beautiful, because behind the home is a greenbelt! The master bedroom boasts vaulted ceilings, space for sitting area & ensuite bath with his & her walk-in closets, garden-sized tub, dual vanities & walk-in shower. Powered window shades throughout home & full-house water filtration system running through tankless gas water heater! 3-car garage with ample space for extra toys or workspace for hobbies. The home is almost brand new - built in 2023, so everything including the roof, windows, appliances & so forth is in very good condition.

Investor Tools

Property Icon
$680,000
Estimated Property Value
$0Estimated Mortgage Balance
$156,710Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$685,276
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,080 /month
Positive
Cash Flow Estimate:
$1,360 /month

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Wayne Barnes

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,221/month
$1,000/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$11,254
$614,357
2025
$120,000
$494,357
$614,357
No

Tax History

Year
Tax Paid
Assessed Value
2024
$11,254
$614,357

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Parkstone Mortgage Llc
Conventional
$548,165
No
First
Dec 14, 2023
Jan 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$523,290
$156,710
23%
77%
$3,287/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,630/mo
$4,287/mo
$-1,657/mo
4.6%

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: Midlothian

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