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$34,999

502 N College Ave, Levelland, TX, 79336

$45,499 ARVInfo
PendingInfo
Beds3 Beds
Baths2 Bath
Baths1,216 Sq Ft
price_per_sqft$28.78 / sqft
Year BuiltBuilt in 1800

Property Lead Type:

ARV FlipAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms 2Bathrooms 2

Exterior

Exterior FeaturesNone
Lot Size19,602 sqft

Land Information

APN13005
Land UseResidential
Legal DescriptionHOOD CSL, LGE 28, LAB 3, TR 3, AB149, ACRES .450,
Census Tract950400
Assessed Land Value$21,310
Assessed Improvement Value$65,970
Assessment Year2025

About this property

Unique Investment Opportunity with Endless Possibilities! Calling all investors, entrepreneurs, and visionaries! This one-of-a-kind property offers a rare combination of a former commercial restaurant building at the front of the property and a manufactured home at the rear—all situated on residentially zoned land. The restaurant building presents an incredible opportunity for renovation, repurposing, or restoration, subject to zoning regulations and any required approvals. The manufactured home in the back is not currently livable and will require significant repairs or replacement, making this an ideal project for someone looking to maximize the property's potential. Whether you're considering redevelopment, restoring the existing structures, or exploring permitted uses with the appropriate authorities, this property is full of possibilities for the right buyer. Being sold AS-IS. Buyers are encouraged to verify zoning, permitted uses, and redevelopment opportunities with the appropriate local authorities. Bring your vision, your contractor, and your creativity—properties with this much potential don't come along every day!

Investor Tools

$0Estimated Mortgage Balance
$130,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
$45,499
Rent-to-Value Ratio: 0.72%
Rent Estimate
$780 /month
Positive
Cash Flow Estimate:
$260 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$104/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$595
$87,280
2025
$21,310
$65,970
$87,280
No

Tax History

Year
Tax Paid
Assessed Value
2025
$595
$87,280

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$130,000
100%
0%
$0/mo

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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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: Levelland

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502 N College Ave | Property Details | No Agent List