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$614,000

505 Somerset Dr, Lewisville, TX, 75056

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,573 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$197.82 / sqft
Year BuiltBuilt in 2020

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Gas Cooktop, Microwave
FlooringCarpet, Ceramic Tile

Exterior

Lot Size2,731 sqft

Building Information

Year Built2020
Stories2
Roof Type105
Garage Spaces2

Land Information

APNR750016
Lot Number21
SubdivisionCastle Hills Phase 10 Lewisville Additio
Land UseResidential
Legal DescriptionCASTLE HILLS PHASE 10 LEWISVILLE ADDITION BLK M LOT 21
Census Tract021654
Assessed Land Value$109,590
Assessed Improvement Value$458,582
Assessment Year2025

About this property

Cozy Townhome in a prestigious, impeccably maintained neighborhood just moments away from the vibrant Grandscape area. This prime location offers convenience to the latest in shopping, dining, & entertainment, ensuring you're always at the heart of the action! Step into luxury as you enter this meticulously cared-for home. The highlight of the home is undoubtedly the chef's dream kitchen, including an expansive layout with miles of counter space, a gas cooktop, & a centrally positioned sink on the island. Upstairs, strategically placed bedrooms ensure privacy, creating an ideal retreat. Indulge in the master bathroom featuring dual private vanities & an oversized walk-in shower, offering the ultimate in relaxation. Outside, a newly installed enclosed screened back patio awaits, shielded from Texas bugs & surrounded by natures beauty! This home seamlessly blends luxury living with unparalleled convenience, offering an opportunity to experience the epitome of modern comfort & style!

Investor Tools

Property Icon
$614,000
Estimated Property Value
$416,000Estimated Mortgage Balance
$213,599Estimated Equity
32% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,684 /month
Positive
Cash Flow Estimate:
$1,228 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$941/month
$1,242/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$8,223
$568,172
2025
$109,590
$458,582
$568,172
No

Tax History

Year
Tax Paid
Assessed Value
2024
$8,223
$568,172

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
United Wholesale Mortgage
Conventional
$416,000
No
First
Apr 30, 2024
May 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$400,401
$213,599
34%
65%
$2,495/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,340/mo
$3,737/mo
$-1,397/mo
4.6%

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: Lewisville

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505 Somerset Dr | Property Details | No Agent List