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$335,000

509 Basswood Ln, Melissa, TX, 75454

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,789 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$187.26 / sqft
Year BuiltBuilt in 2012

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, Electric Range, Gas Water Heater
FlooringCarpet, Ceramic Tile, Linoleum

Building Information

Year Built2012
Stories1
Garage Spaces2

Land Information

APNR-8668-00E-0070-1
Lot Number7
SubdivisionHunters Ridge Phase 3 (Cml)
Land UseResidential
Legal DescriptionHUNTERS RIDGE PHASE 3 (CML), BLK E, LOT 7
Census Tract030206
Assessed Land Value$90,000
Assessed Improvement Value$252,364
Assessment Year2025

About this property

Welcome to Melissa where the schools are highly recognized. Hunters Ridge is so convenient to Interstate 75 and Buc-cees ! This home has an open concept floor plan and split layout which are very popular features, as they enable privacy and space for all household members. The large kitchen island and pantry are definitely a plus, as they provide ample space for cooking and storage. The gas fireplace in the living room adds both warmth and coziness to the space. New dishwasher and water heater have been installed within the last 3 years. The yard is indeed very spacious, perfect for outdoor activities and entertainment. Overall, this home offers both functionality and beauty. Information provided is deemed reliable, but is not guaranteed and should be independently verified. Buyer to verify measurements, schools, & tax, etc. Please note video and or audio equipment by sellers may or may not be in use.

Investor Tools

Property Icon
$342,364
Estimated Property Value
$259,875Estimated Mortgage Balance
$96,364Estimated Equity
24% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,054 /month
Positive
Cash Flow Estimate:
$685 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$687/month
$269/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,530
$342,364
2025
$90,000
$252,364
$342,364
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,530
$342,364

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Fairway Independent Mortgage Corp
Conventional
$259,875
No
First
Jun 13, 2023
Jul 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$246,000
$96,364
28%
72%
$1,559/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,960/mo
$1,828/mo
+$1,132/mo
10.4%

Learn About the Market: Opportunity in Texas

Local Market Pages
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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: Melissa

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