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$258,800

517 W Martin Luther King Drive, San Marcos, TX, 78666

On MarketInfo
Beds2 Beds
Baths1 Bath
Baths720 Sq Ft
SingleFamilyResidenceSingleFamilyResidence
price_per_sqft$359.44 / sqft

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms 1Bathrooms 1
Garage AvailableGarage Available
AppliancesDryer, Gas Range, Refrigerator, Washer, Microwave, Range
FlooringTile, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesDeck, Private Yard
Lot Size3,746 sqft

Building Information

Stories1
Roof Type105

Land Information

APNR24639
Lot Number1
SubdivisionD S Combs Addition
Land UseResidential
Legal DescriptionD S COMBS ADDITION, BLOCK 5, LOT NW 1 & E PT OF 2, ACRES 0.086 (158.33X45) TAX CODES:SSM,WEU,WUS
Census Tract010500
Assessed Land Value$30,550
Assessed Improvement Value$155,032
Assessment Year2025

About this property

Ideally situated just minutes from Texas State University, this charming 2-bedroom, 1-bath home offers the perfect blend of convenience, character, and lifestyle. Enjoy easy access to campus, Downtown San Marcos, local restaurants, coffee shops, shopping, and entertainment. Popular destinations including Industry, Mochas & Javas, Cafe Cortado, and the vibrant Downtown Square are all just moments away. Inside, you'll find hardwood floors and an open-concept kitchen featuring a center island, creating a functional and inviting space for everyday living. Step outside to a spacious 12' x 10' back deck, complete with a privacy fence—perfect for relaxing, entertaining, or enjoying the peaceful surroundings. The property is shaded by mature trees soaring over 20 feet tall, providing exceptional natural beauty and welcome relief during the Texas summer months. With quick access to IH-35, nearby recreation along the San Marcos River, and strong owner-occupant or rental appeal, this home is an excellent opportunity in one of San Marcos' most convenient locations.

Investor Tools

Property Icon
$199,000
Estimated Property Value
$0Estimated Mortgage Balance
$10,947Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,553 /month
Positive
Cash Flow Estimate:
$518 /month

Interested in this property?

Chris Torrey

Elite Realty Advisors

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$425/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,104
$185,582
2025
$30,550
$155,032
$185,582
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,104
$185,582

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Na
Commercial
$199,000
No
First
May 26, 2023
Dec 2023

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$188,053
$10,947
5%
94%
$1,194/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.

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: San Marcos

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517 W Martin Luther King Drive | Property Details | No Agent List