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$450,000

511 Farrar Rd, Waxahachie, TX, 75165

$508,400 ARVInfo
On MarketInfo
Beds4 Beds
Baths3 Bath
Baths2,815 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$159.86 / sqft
Year BuiltBuilt in 1989

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
Bathrooms Half 1Bathrooms Half 1
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
AppliancesDishwasher, Electric Range, Double Oven
FlooringCarpet, Tile, Vinyl

Exterior

Exterior FeaturesRain Gutters
Lot Size3.22 acres

Building Information

Year Built1989
Stories1
Roof Type105
Garage Spaces6

Land Information

APN00.8090.000.012.00.110
Lot Number12
SubdivisionRutherford Crossing
Land UseResidential
Legal DescriptionLOT 12 RUTHERFORD CROSSING 3.222 AC
Census Tract060217
Assessed Land Value$175,000
Assessed Improvement Value$399,319
Assessment Year2025

About this property

What if your next home wasn't perfect yet—but the land, the setting, and the bones were already there? A rare opportunity to own more than 3 acres of Texas countryside with a pond, a creek, established surroundings, and room to create something truly your own. Located outside the city limits with no HOA and served by Palmer ISD, this is the kind of property buyers search for when they are ready for more space, more privacy, and fewer restrictions. The house is ready for its next chapter. With 4 bedrooms and 3.5 baths, the size and layout provide a strong foundation for a full transformation. Yes, it needs work—but some of the beautiful updates have already begun, including a renovated kitchen that offers a glimpse of just how special this home could be. Bring your ideas, your vision, and breathe new life into a property with great bones and so much potential. Outside is where the dream really starts to take shape. Imagine time at the pond, afternoons exploring along the creek, a garden that finally has room to grow, chickens in the yard, or simply enjoying the quiet that comes with having more than 3 acres to call your own. The detached workshop adds valuable space for tools, equipment, projects, hobbies, or the person who can never have enough room to tinker. This isn't a polished, cookie-cutter home waiting for someone else's furniture. It's an acreage property in Ellis County waiting for the right buyer to write its comeback story. If you've been searching for a fixer-upper on acreage near Palmer, Texas, a 4-bedroom country home with a pond and creek, property outside the city limits with no HOA, or a Texas home with a detached workshop and room to make your own—511 Farrar Road may be the opportunity you've been waiting to find. Bring this house back to life. The country setting is already here.

Investor Tools

Property Icon
$541,000
Estimated Property Value
$248,214Estimated Mortgage Balance
$345,980Estimated Equity
54% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$508,400
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,246 /month
Positive
Cash Flow Estimate:
$1,082 /month

Interested in this property?

Melissa McClain

Coldwell Banker Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$664/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,261
$481,631
2025
$175,000
$399,319
$574,319
No

Tax History

Year
Tax Paid
Assessed Value
2018
$5,261
$481,631

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Home Point Financial Corp
Va
$248,214
Yes
First
Jun 18, 2016
Jul 2046

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$195,020
$345,980
63%
36%
$1,489/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,972/mo
$1,489/mo
+$483/mo
4.4%

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: Waxahachie

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511 Farrar Rd | Property Details | No Agent List