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$575,000

523 E Franklin St, Grapevine, TX, 76051

Off MarketInfo
Baths0 Bath
Unimproved LandUnimproved Land

Highlights

Interior

Bathrooms 0Bathrooms 0

Exterior

Lot Size8,712 sqft

Land Information

APN7670-112-6A
Lot Number6A
SubdivisionCollege Heights
Land UseResidential
Legal DescriptionCOLLEGE HEIGHTS ADDITION-GRPVN BLOCK 112 LOT 6A
Census Tract113712
Assessed Land Value$180,000
Assessment Year2025

About this property

Located two & a half blocks east of Historic Main Street this is the only & one of the last opportunities to build from scratch on open land in Grapevine's Historic Township. Positioned between two custom homes designed by Russell Moran & built by Phil Ware this prime location is an interior lot surrounded by high end residential housing & adjacent Faith Christian School. At .20 acre, it is a larger lot than most in the College Heights-Downtown Neighborhoods. This land is in a Historic District & the house design will need to follow Grapevine Historic Preservation Commission architectural and building ordinances. The Listing Broker, or your Broker, can provide information on the Historic District ordinances & make introductions to builders and architects with experience in the neighborhood to make it a seamless process for you to dream up your own new construction home with the charm and character of an historic home. Experience the best of both worlds!

Investor Tools

Property Icon
$575,000
Estimated Property Value
$432,000Estimated Mortgage Balance
$147,400Estimated Equity
25% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,450 /month
Positive
Cash Flow Estimate:
$1,150 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$312/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$868
$180,000
2025
$180,000
N/A
$180,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$868
$180,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Texas Regional Bank
Conventional
$432,000
No
First
Oct 30, 2025
Nov 2028

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$427,600
$147,400
25%
74%
$2,591/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: Grapevine

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