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$330,000

505 Rorary Dr, Richardson, TX, 75081

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,428 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$231.09 / sqft
Year BuiltBuilt in 1959

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 1Bathrooms Full 1
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Gas Range, Microwave, Refrigerator
FlooringCeramic Tile, Wood

Exterior

Lot Size7,524 sqft

Building Information

Year Built1959
Stories1
Roof Type105
Garage Spaces1

Land Information

APN42204500100200000
Lot Number20
SubdivisionRichardson Terrace
Land UseResidential
Legal DescriptionRICHARDSON TERRACE 2 BLK J LOT 20 INT202400213772 DD10212024 CO-DC 2045001002000 3CR20450010
Census Tract019102
Assessed Land Value$80,000
Assessed Improvement Value$217,780
Assessment Year2025

About this property

Dreaming of that Magnolia farmcore aesthetic? This updated mid-century bungalow in the Richardson Terrace area is it! 505 Rorary is giving all the cozy vibes with 3 bedrooms, 1.5 baths, & a fantastic floor plan that offers not one, but TWO spacious living rooms. The great room features a large picture window for max natural light & a scenic front porch view. The living room is warmed by floor-to-ceiling wood-burning fireplace & coordinating patio door with muntins. The kitchen & dining area flow seamlessly, & you’ll love the full-size separate utility room. Step outside to a huge backyard, perfect for pets, play, & weekend hangs. Located near Richardson Terrace Elementary, just yards from Terrace Park (hello swimming, tennis, playgrounds, field sports & ALL the greenspace!), this spot is a community gem. Retro charm meets modern updates: tankless water heater, trendy fixtures & finishes, and yes—the fridge stays! Affordable, move-in ready, easy-care pier & beam foundation, wood floors.

Investor Tools

Property Icon
$332,000
Estimated Property Value
$334,650Estimated Mortgage Balance
$6,791Estimated Equity
-1% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,992 /month
Positive
Cash Flow Estimate:
$664 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$517/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,539
$297,780
2025
$80,000
$217,780
$297,780
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,539
$297,780

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Alcova Mortgage Llc
Conventional
$334,650
No
First
Oct 2, 2024
Nov 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$325,209
$6,791
2%
98%
$2,007/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,310/mo
$2,007/mo
+$303/mo
8.3%

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.

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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: Richardson

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505 Rorary Dr | Property Details | No Agent List