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$1,450,000

506 Reed St, Roanoke, TX, 76262

Off MarketInfo
Beds4 Beds
Baths5 Bath
Baths3,649 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$397.37 / sqft
Year BuiltBuilt in 2024

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 4.5Bathrooms Full 4.5
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesRefrigerator, Built-In Refrigerator, Dishwasher, Disposal, Gas Cooktop, Gas Oven, Microwave, Double Oven, Other
FlooringCarpet, Hardwood

Exterior

Exterior FeaturesLighting
Lot Size16,596 sqft

Building Information

Year Built2024
Stories2
Roof Type112
Garage Spaces2

Land Information

APNR770917
Lot Number7
SubdivisionReedcan Addition
Land UseCommercial
Legal DescriptionREEDCAN ADDITION BLK A LOT 7
Census Tract020311
Assessed Land Value$341,587
Assessed Improvement Value$465,600
Assessment Year2025

About this property

Offering $20,000 towards closing cost or buyer allowance! Don't miss this incredible opportunity! Located in the heart of Downtown Roanoke, this brand new 3,649 SqFt custom home offers 4 bedrooms, 4.5 baths, and a functional layout designed for modern living. With 2 bedrooms down and 2 upstairs, the home also features a spacious family room, an upstairs game room, and a media room, providing flexibility and space for every need. Crafted with exceptional attention to detail, the open-concept design combines practicality and style. The location is unbeatable just 15 minutes from DFW Airport and 30 minutes from both Downtown Fort Worth and Downtown Dallas. Plus, it's walking distance to Roanoke’s renowned restaurants, entertainment, and boutique shops. Known as the Unique Dining Capital of Texas, the area offers everything from upscale steakhouses to live music venues. With no HOA and a vibrant, walkable neighborhood, this home blends luxury, convenience, and charm in one incredible package.

Investor Tools

Property Icon
$1,347,000
Estimated Property Value
$1,092,000Estimated Mortgage Balance
$277,510Estimated Equity
19% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$8,700 /month
Positive
Cash Flow Estimate:
$2,900 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,012/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,410
$807,187
2025
$341,587
$465,600
$807,187
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,410
$807,187

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Jpmorgan Chase Bank Na
Conventional
$1,092,000
No
First
Mar 14, 2025
Apr 2040

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,069,490
$277,510
20%
79%
$6,548/mo

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: Roanoke

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506 Reed St | Property Details | No Agent List