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$650,000

500 Spring Creek Rd, Florence, TX, 76527

On MarketInfo
Just AddedInfo
Beds3 Beds
Baths2 Bath
Baths2,386 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$272.42 / sqft
Year BuiltBuilt in 2003

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms 2Bathrooms 2
Garage AvailableGarage Available
AppliancesGas Range
FlooringTile, Wood

Exterior

Exterior FeaturesPrivate Yard
Lot Size6.57 acres

Building Information

Year Built2003
Garage Spaces4

Land Information

APN42307
Lot Number5
SubdivisionSpring Creek Estates
Land UseResidential
Legal DescriptionS7940 SPRING CREEK ESTATES LOT 5*** 6.574
Census Tract960101
Assessed Land Value$244,216
Assessed Improvement Value$380,797
Assessment Year2025

About this property

Firefly is only 8 minutes away (5.2 miles) WOWZA! What a rare property! If you are an employee needing housing, this is a one of a kind find. If not, it is still a rare find. (Also offered for lease) The 6.5 acre setting is very private & the home isn't seen from the street. The construction is over the top with 1 foot thick block walls, that are concrete reinforced & go 10 feet high for the 1st floor. The 2nd floor also offers the same 10 foot high ceilings & it has 2 x 6 wall construction for added strength & insulation. So what does this all mean? Energy efficiency for the Texas weather. It is amazing the difference walking into this home. The owner has always had low utility bills. The a/c heating systems are zoned with 2 units. This helps. The heating & range (new) are propane. The downstairs features stained concrete floors & the upper floor has solid wood flooring. (Tile floors in both baths) The master bath features a separate shower & a 6 foot soaking tub that is insulated to retain the heat. The interior was just painted and the exterior was painted a few months ago. The patio deck was just stained and painted. There is a large front porch to keep out of the heat. The upper balcony is great for morning coffee as its shaded and offers a pleasant view. There is a huge stone patio on the other side of the home. Actually there is aprox 1,250 feet of porch, deck, patios. The 2 car detached garage/workshop features (2) 220 plugs & is large enough for bigger vehicles with space for equipment if needed. There is a large 1 car covered carport on the end. The attached former garage is now set up as a heated & cooled workshop, laundry or workout room. (Not included in the living square footage) The concrete block walls make a huge difference. There is an overhead door & opener. OH! There is a 10x10 safe room/storm shelter is in the middle of the home with reinforced block walls, concrete ceiling, steel door that could also make a great store room.

Investor Tools

$143,976Estimated Mortgage Balance
$539,307Estimated Equity
78% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,098 /month
Positive
Cash Flow Estimate:
$1,366 /month

Interested in this property?

Rex Edwards

Central Texas Homes

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$604/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,828
$489,022
2025
$244,216
$380,797
$625,013
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,828
$489,022

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Freedom Home Mortgage Corp (Fn
Conventional
$159,804
No
First
May 18, 2021
Jun 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$143,976
$525,024
78%
21%
$959/mo

City: Florence