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$350,000

5494 An County Road 309, Frankston, TX, 75763

$368,558 ARVInfo
On MarketInfo
Beds3 Beds
Baths1,878 Sq Ft
price_per_sqft$186.37 / sqft
Year BuiltBuilt in 2020

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Half 2Bathrooms Half 2
AppliancesElectric Range, Dishwasher, Microwave, Refrigerator
FlooringVinyl, Concrete

Exterior

Lot Size1.14 acres

Building Information

Year Built2020

Land Information

APN856262
Land UseResidential
Legal DescriptionA0022 FERGUSON, JOHN BLOCK 716 TRACT 2L2
Census Tract950100
Assessed Land Value$16,999
Assessed Improvement Value$354,565
Assessment Year2025

About this property

Discover a unique opportunity just minutes from Lake Palestine! Situated on just over 1 acre and only 3 minutes from a convenient boat launch, this versatile property offers incredible potential for both peaceful comfortable living and income generation. This thoughtfully designed home features, two separate living quarters, making it ideal for multi-generational living or rental opportunities. Step through the main front entrance into a spacious layout that includes a well-sized kitchen, inviting living area, laundry space, and a private master suite. Continue through a flexible room, perfect as a bedroom or office; into a second fully functional living space, complete with its own full kitchen, living area, bedroom, and private front and back entrances. Previous owners successfully utilized this space as a one-bedroom rental, creating immediate income potential. The exterior adds even more value, featuring an RV-ready hookups with electric and septic, opening the door for additional rental income or guest accommodations. In the back is a 12x12 shop, wood shop or organize your fishing gear! Another standout feature of this property is the roof runoff collection system, designed to capture and store rainwater in the underground tanks, an excellent resource for maintaining a water reserve, especially during those hot Texas summers. Located just around the corner from local bait shops and multiple boat launches, this property is perfectly positioned to attract weekend visitors and lake enthusiasts looking to enjoy everything Lake Palestine has to offer. Whether you're searching for a primary residence, investment property, or weekend retreat, this home offers endless possibilities.

Investor Tools

$89,741Estimated Mortgage Balance
$282,360Estimated Equity
75% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$368,557
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,229 /month
Positive
Cash Flow Estimate:
$743 /month

Interested in this property?

Cherie Davidson

Berkshire Hathaway HomeService

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$433/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,337
$371,564
2025
$16,999
$354,565
$371,564
No

Tax History

Year
Tax Paid
Assessed Value
2025
$3,337
$371,564

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Guild Mortgage Co
Conventional
$100,000
No
First
Jan 22, 2021
Feb 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$89,741
$281,823
75%
24%
$600/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: Frankston

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5494 An County Road 309 | Property Details | No Agent List