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Owner Contacts

$240,000

NAL Estimated Property Value

501 Joyce Dr, Garland, TX, 75040

Off Market

3 Beds

1 Bath

1,020 Sq Ft

Single Family Residence

$225.49 / sqft

Built in 1949

Property Lead Type:

BankruptcyPre-ForeclosureOff-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3

Bathrooms Full 1

Heating Central

Cooling

AppliancesMicrowave, Refrigerator

Building Information

Year Built1949

Stories1

Roof Type105

Land Information

APN26087500080340000

SubdivisionChandler Heights

Land UseResidential

Legal DescriptionCHANDLER HEIGHTS BLK H LT 34 INT202200133873 DD05062022 CO-DC 0875000803400 1CG08750008

Census Tract018700

Assessment Year2025

About this property

MOTIVATED SELLER !!! This charming 3-bedroom, 1-bathroom home offers a blend of comfort and investment potential. The main house was remodeled a few years ago, featuring updates such as new siding, quartz countertops, white subway tile backsplash, cabinets, ceiling fans, fresh paint, carpet, and vinyl flooring. In 2024, the HVAC system was replaced to ensure year-round comfort. Additionally, an efficient rear addition comprises two bedrooms and a bathroom, currently rented, providing an opportunity for rental income. Situated on an oversized corner lot, the property boasts a spacious backyard and ample parking. Conveniently located just minutes from downtown Garland, which is undergoing significant revitalization, and within the Garland Independent School District that offers school choice, this home is ideal for families or investors. The property is being sold as is, presenting a unique opportunity to own a versatile residence in a prime location.

Investor Tools

$240,000

Estimated Property Value

$222,358Estimated Mortgage Balance

$17,642Estimated Equity

7% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$1,440 /month

Positive

Cash Flow Estimate:

$480 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$375/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$3,300

$240,000

2025

N/A

$240,000

Tax History

Year

Tax Paid

Assessed Value

2024

$3,300

$240,000

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

First Financial Bank

Commercial

$226,000

First

Jun 17, 2025

Jun 2055

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$222,358

$17,642

93%

$1,355/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$1,972/mo

$1,355/mo

+$617/mo

9.9%

Learn About the Market: Opportunity in Texas

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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.

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