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$343,000

503 Melody Ln, Gainesville, TX, 76240

Off MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,559 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$123.09 / sqft
Year BuiltBuilt in 1962

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Range, Microwave, Plumbed For Ice Maker, Electric Water Heater, Gas Water Heater
FlooringLaminate

Exterior

Exterior FeaturesRain Gutters
Lot Size11,835 sqft

Building Information

Year Built1962
Roof Type105
Garage Spaces2

Land Information

APN17541
Lot Number11
SubdivisionJoy Acres
Land UseResidential
Legal DescriptionJOY ACRES; BLOCK 10; LOT 11
Census Tract001100
Assessed Land Value$47,591
Assessed Improvement Value$287,926
Assessment Year2025

About this property

MULTIPLE OFFERS.HIGHEST AND BEST DEADLINE BY 1:00 SATURDAY FEBRUARY 12th. Call today to see your new home in Gainesville! Loads of sq footage in this 4 bedroom 3 bath home! Den is huge with a gas log fireplace and crown molding, bedrooms are really spacious. Other living area would be great for a pool table or game room, 2 dining areas, split bedroom arrangement. Newer vinyl plank flooring throughout, galley kitchen with SS appliances and granite counters. Covered patio makes a great outdoor living space. Home is on a corner lot, 20 x 30 shop with electric, fenced yard with trees, sprinkler system, nice storm shelter, oversized garage with side entry. Survey is available. Excludes refrigerator in kitchen.

Investor Tools

Property Icon
$343,000
Estimated Property Value
$0Estimated Mortgage Balance
$343,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,058 /month
Positive
Cash Flow Estimate:
$686 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$674/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,372
$335,517
2025
$47,591
$287,926
$335,517
Yes (2023)

Tax History

Year
Tax Paid
Assessed Value
2024
$6,372
$335,517

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$343,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,753/mo
N/A
+$1,753/mo
6.1%

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: Gainesville

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503 Melody Ln | Property Details | No Agent List