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$1,700,000

512 Terry Ln, Heath, TX, 75032

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths2,805 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$606.06 / sqft
Year BuiltBuilt in 1985

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
CoolingCooling
AppliancesDishwasher, Disposal, Electric Cooktop, Electric Oven, Microwave
FlooringCarpet, Ceramic Tile

Exterior

Lot Size1.35 acres

Building Information

Year Built1985
Stories1
Roof Type105
Garage Spaces2

Land Information

APN3546-0000-0011-00-0R
Lot Number11
SubdivisionE W Terrys Land
Land UseResidential
Legal DescriptionE W TERRYS LAND, LOT 11, ACRES 1.35, (FKA R11890)
Census Tract040511
Assessed Land Value$2,463,750
Assessed Improvement Value$284,360
Assessment Year2025

About this property

SELLER NOW OFFERING $50,000 for removal of existing home with acceptable offer. Location, location, location! You've heard these words before, and there is no better way to describe this property. Boating enthusiasts will be interested to know it is located on the deepest part of Lake Ray Hubbard, making this property is a gem. The house is in good condition, but the true value is in the land. This 2 bedroom, 2 bath, 2 car-garage home sits on 1.35 acres, but with the addition of the leasable take area which is owned by the City of Dallas and regulated by the City of Heath, the owners say that the usable land is closer to 2 acres (the land listing can be found at MLS #20996474). The bedrooms and bathrooms are large, and there are two large living areas. French doors open from the primary bedroom to the covered patio, which leads to the large backyard and lake front. There is an existing seawall and there is an option to build a private boat dock. You can also enjoy the public boat ramps at Terry Park, which is a short drive from the property. The property is located near major highways, medical facilities, shopping, dining, and entertainment. The Harbor at Rockwall is a hot spot for fun! Buyer and buyers agent to confirm all information. Please do not go on the property without an appointment.

Investor Tools

Property Icon
$2,748,110
Estimated Property Value
$0Estimated Mortgage Balance
$2,748,110Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$16,489 /month
Positive
Cash Flow Estimate:
$5,496 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,529/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,612
$2,748,110
2025
$2,463,750
$284,360
$2,748,110
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,612
$2,748,110

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$2,748,110
100%
0%
$0/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.

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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: Heath

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512 Terry Ln | Property Details | No Agent List