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B+
NoAgentList RatingHow are grades calculated? Info
Days1187Days on Market
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$350,000

$360,000

505 Lucas Ln, Lavon, TX, 75166

$375,873 ARVInfo
On MarketInfo
Price DropInfo
Beds4 Beds
Baths3 Bath
Baths2,490 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$140.56 / sqft
Year BuiltBuilt in 2021

Property Lead Type:

Absentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
AppliancesDishwasher, Disposal, Electric Cooktop, Electric Oven, Electric Range, Microwave, Vented Exhaust Fan
FlooringCarpet, Ceramic Tile, Tile, Wood, Vinyl

Exterior

Private PoolPrivate Pool
Exterior FeaturesLighting, Private Yard
Lot Size6,098 sqft

Building Information

Year Built2021
Stories2
Garage Spaces2

Land Information

APNR-12124-00E-0070-1
Lot Number7
SubdivisionTraditions At Grand Heritage, Phase 2 (C
Land UseResidential
Legal DescriptionTRADITIONS AT GRAND HERITAGE, PHASE 2 (CLA), BLK E, LOT 7
Census Tract031202
Assessed Land Value$105,000
Assessed Improvement Value$281,140
Assessment Year2025

About this property

Perfectly positioned on an oversized corner homesite, this exceptional two-story residence effortlessly combines timeless style with everyday comfort. Designed with both entertaining and modern living in mind, the open-concept floor plan showcases a beautifully appointed gourmet kitchen featuring an expansive center island, granite countertops, abundant cabinetry, an electric cooktop, built-in oven, vent hood, and seamless views into the spacious dining area and inviting family room. The heart of the home is the light-filled living room, where a dramatic wall of windows fills the space with natural light, creating a warm and welcoming atmosphere. Just off the grand entry, elegant French doors open to a private study highlighted by charming bay windows, offering the perfect home office or quiet retreat. Privately tucked away, the luxurious primary suite serves as a peaceful escape with a spacious bedroom, spa-inspired ensuite bath featuring dual vanities, a relaxing garden tub, separate walk-in shower, and an oversized walk-in closet. The thoughtfully designed layout also includes two secondary bedrooms on the main level, while upstairs you'll find an additional split bedroom and an expansive game room with endless possibilities for a media room, billiards, playroom, or second living area. Step outside to your private backyard oasis, where mature trees provide shade and privacy while the oversized cedar-covered patio creates the ideal setting for year-round entertaining, weekend barbecues, or peaceful evenings outdoors. Located within a sought-after master-planned community, residents enjoy resort-style amenities including a sparkling pool, stocked fishing pond, fitness center, clubhouse, playground, and scenic walking trails. Conveniently zoned to Community ISD and just minutes from Wylie, Rockwall, and Highway 78, this beautiful home offers the perfect balance of luxury, convenience, and lifestyle. This is one you won't want to miss.

Investor Tools

Property Icon
$386,140
Estimated Property Value
$0Estimated Mortgage Balance
$386,140Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$375,873
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,317 /month
Positive
Cash Flow Estimate:
$772 /month

Interested in this property?

Jason Thomas

Compass RE Texas, LLC

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$863/month
$346/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$8,425
$386,140
2025
$105,000
$281,140
$386,140
No

Tax History

Year
Tax Paid
Assessed Value
2024
$8,425
$386,140

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$396,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,710/mo
$346/mo
+$3,364/mo
11.5%

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: Lavon

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505 Lucas Ln | Property Details | No Agent List