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$568,786

308 Lake Ter, Rockwall, TX, 75087

Off MarketInfo
Beds5 Beds
Baths3 Bath
Baths2,981 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$176.08 / sqft
Year BuiltBuilt in 1977

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating Heat PumpHeating Heat Pump
AppliancesRefrigerator, Built-In Refrigerator, Dishwasher, Electric Range, Gas Water Heater, Microwave
FlooringCeramic Tile, Hardwood

Exterior

Exterior FeaturesStorage
Lot Size15,987 sqft

Building Information

Year Built2008
Stories1
Garage Spaces2

Land Information

APN3890-000E-00E4-00-0R
SubdivisionHighland Hills
Land UseResidential
Legal DescriptionHIGHLAND HILLS, BLOCK E, LOT E4, 308 LAKE TERRACE
Census Tract040101
Assessed Land Value$192,000
Assessed Improvement Value$376,786
Assessment Year2025

About this property

This lovely home near the lake has been a joy to the current owners and is ready for new owners to build their sweet memories. Many improvements over the last few years such as rose and blackberry bush plantings, soil beds, check valve for the sprinkler system, large ceiling fan in main living room as well as back patio along with a chandelier, elevated internet cable to avoid exposure to pets, a corrosion resistant chimney cap, newly installed gas system for fireplace, 2019 roof, 2 sizeable outdoor sheds with new roofing, both AC units regularly serviced, windows sealed that have helped utility bills, copper rod drove into ground with wiring to properly ground main electric box and so much more. You'll be inspired by this quiet and peaceful neighborhood. Perfect for entertaining both inside and out. This is a one of a kind stone home on a cul-de-sac with so many unique features. Check out the freshly trimmed Pecan Tree with pretty Crepe Myrtles. More photos coming soon.

Investor Tools

Property Icon
$568,786
Estimated Property Value
$408,000Estimated Mortgage Balance
$183,893Estimated Equity
28% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,413 /month
Positive
Cash Flow Estimate:
$1,138 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$891/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,845
$568,786
2025
$192,000
$376,786
$568,786
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,845
$568,786

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First Financial Bank Na
Conventional
$408,000
No
First
Apr 17, 2023
May 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$384,893
$183,893
32%
68%
$2,447/mo

Learn About the Market: Opportunity in Texas

Local Market Pages
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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: Rockwall

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308 Lake Ter | Property Details | No Agent List