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B+
NoAgentList RatingHow are grades calculated?Info
Days47Days on Market
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$499,500

509 Mustang Ct, Lavon, TX, 75166

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,794 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$278.43 / sqft
Year BuiltBuilt in 1987

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
AppliancesDishwasher, Disposal, Electric Range
FlooringWood

Exterior

Exterior FeaturesRain Gutters
Lot Size1.31 acres

Building Information

Year Built1987
Stories1
Garage Spaces4

Land Information

APNR-1640-000-0320-1
Lot Number32
SubdivisionMustang Estates (Cla)
Land UseResidential
Legal DescriptionMUSTANG ESTATES (CLA), LOT 32
Census Tract031202
Assessed Land Value$104,600
Assessed Improvement Value$239,357
Assessment Year2025

About this property

Welcome to this picture-perfect updated farmhouse retreat on 1.3 acres in Lavon, just minutes from scenic Lake Lavon! This inviting 3-bedroom, 2-bath home captures classic country charm with its wrap-around porch and welcoming curb appeal. Step inside to discover a warm, open layout filled with natural light and thoughtful details that make every space feel like home. Enjoy peaceful mornings on the covered back porch overlooking your private acreage—complete with a chicken coop generator and plenty of room to garden, play, or simply unwind. A recently added shop with pull through door, adds incredible versatility for hobbies, storage, or creative projects. Don't miss the extra room for parking and the home is Generator Ready! Whether you’re dreaming of a little homestead or a quiet place to relax close to the lake, this property delivers the best of both worlds. Homes like this are rare—come see it in person and fall in love with the lifestyle it offers! Check out the virtual tour and floorplan video too!

Investor Tools

$372,023Estimated Mortgage Balance
$147,977Estimated Equity
28% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,120 /month
Positive
Cash Flow Estimate:
$1,040 /month

Interested in this property?

Sara Taylor

Ebby Halliday, REALTORS

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$815/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,184
$343,957
2025
$104,600
$239,357
$343,957
No

Tax History

Year
Tax Paid
Assessed Value
2024
$7,184
$343,957

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
V I P Mortgage Inc
Conventional
$399,950
No
First
Sep 12, 2022
Oct 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$372,023
$147,977
28%
72%
$2,398/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,850/mo
$2,398/mo
+$452/mo
6.6%

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.

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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