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$326,000

5512 Gates Dr, The Colony, TX, 75056

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,273 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$259.15 / sqft
Year BuiltBuilt in 1975

Property Lead Type:

BankruptcyPre-ForeclosureAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Range
FlooringCarpet, Laminate

Exterior

Exterior FeaturesRain Gutters
Lot Size6,399 sqft

Building Information

Year Built1975
Stories1
Roof Type105
Garage Spaces1

Land Information

APNR07682
Lot Number9
SubdivisionColony No 11
Land UseResidential
Legal DescriptionCOLONY NO 11 BLK 70 LOT 9
Census Tract021531
Assessed Land Value$64,000
Assessed Improvement Value$158,982
Assessment Year2025

About this property

Open House This Weekend! 2pm-4pm! Welcome to 5512 Gates Drive, arguably the cutest affordable home in the neighborhood with a NEW PRICE and a full refresh! This stylish single story home is truly move-in ready, boasting 2025 new carpet in all bedrooms, 2025 fresh interior paint, an open-concept floor plan, and a 1-car garage; a rare find at this price point in The Colony. Step inside and experience a bright, modern living space that makes the most of every square foot. The open kitchen-to-living connection is ideal for hosting friends, cooking while staying part of the conversation, or simply enjoying a cozy night in. With 3 spacious bedrooms, 2 full baths, and a smart layout, the home works beautifully for first-time buyers, downsizers, or investors looking for long-term value. Sitting on a generously sized lot with semi-corner alley access, the backyard is a blank canvas ready for gardens, gatherings, or play. Major upgrades are already done for you: a 2022 foundation repair with a transferable warranty, 2025 insulation improvements, and a 2020 electrical panel upgrade—giving new homeowners peace of mind for years to come. Location is the cherry on top: just a short walk to a neighborhood park, minutes from lakeside fun, restaurants, shops, and all The Colony has to offer. Zoned to Lewisville ISD (The Colony schools). Modern updates, thoughtful features, and undeniable charm. This isn’t just a house—it’s the home people will be talking about. Come see it today and fall in love. Enjoy peace of mind with completed foundation work that includes a transferrable warranty. This home has been lovingly maintained and is ready for its next chapter. This is more than a house, it's home. Come see why it’s the one everyone will be talking about!

Investor Tools

Property Icon
$326,000
Estimated Property Value
$318,889Estimated Mortgage Balance
$0Estimated Equity
2% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,979 /month
Positive
Cash Flow Estimate:
$660 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$522/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,638
$222,982
2025
$64,000
$158,982
$222,982
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,638
$222,982

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Mortgage Link
Fha
$318,889
Yes
First
Jan 29, 2026
Feb 2056

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$326,554
N/A
0%
100%
$1,970/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,340/mo
$1,970/mo
+$370/mo
8.6%

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: The Colony

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