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$236,000

51 N Frances Avenue, Shepherd, TX, 77371

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,196 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$146.32 / sqft
Year BuiltBuilt in 1978

Property Lead Type:

Deal ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms 2Bathrooms 2
AppliancesDishwasher
FlooringBamboo, Tile

Exterior

Lot Size31,067 sqft

Building Information

Year Built1978
Garage Spaces2

Land Information

APN73585
Lot Number78-80
SubdivisionLake Water Wheel Estates
Land UseResidential
Legal DescriptionLAKE WATER WHEEL ESTATES #3, LOT 78 - 80, ACRES .7132
Census Tract200103
Assessed Land Value$10,880
Assessed Improvement Value$218,790
Assessment Year2025

About this property

Private Country Setting! First Time Home Buyers Special or Just For that Weekend Getaway Spot! This Traditional One-Story Home is Situated on 1.15 Acres of Land! (5 lots) Home Features 3/2 w/Open-Concept Living Room with Cathedral Wood Beamed Ceilings that Opens to the Dining/ Kitchen Combo. Breakfast Bar Separates the Kitchen/ Dining Area; Utility Room with Walk in Pantry. Primary Bedroom + Primary Bath with Shower Only; Many updates throughout includes 3 yr old composition roof, newly installed bamboo wood flooring, upgraded bathrooms. Attached Carport + 2 car Detached Garage. Lake Water Wheel Subdivision Amenities Include: Community Pool (under some remodeling/repairs due to last Fed Freeze), private lake, clubhouse, playground area, tennis courts, and private air strip for the neighborhood owners, some have their own planes & hangers Make your private appt today!

Investor Tools

Property Icon
$236,000
Estimated Property Value
$0Estimated Mortgage Balance
$103,513Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,416 /month
Positive
Cash Flow Estimate:
$472 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$173/month
$700/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$893
$229,670
2025
$10,880
$218,790
$229,670
No

Tax History

Year
Tax Paid
Assessed Value
2025
$893
$229,670

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Legend Lending Corp
Conventional
$144,000
No
First
Feb 24, 2022
Mar 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$132,487
$103,513
43%
56%
$864/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,722/mo
$1,564/mo
+$158/mo
8.8%

Learn About the Market: Opportunity in Texas

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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: Shepherd

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51 N Frances Avenue | Property Details | No Agent List