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$257,790

NAL Estimated Property Value

5535 Rainbow Rd, Cove, TX, 77523

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,042 Sq Ft
price_per_sqft$127.33 / sqft
Year BuiltBuilt in 2018

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 3Bathrooms Full 3
AppliancesDisposal, Microwave, Electric Range, Dishwasher, Dryer, Refrigerator, Washer
FlooringCarpet, Laminate

Exterior

Lot Size5,706 sqft

Building Information

Garage Spaces2

Land Information

APN35220-00306-00700-000500
Lot Number5
SubdivisionJosephs Cove
Land UseResidential
Legal DescriptionLOT 5 BK 7 JOSEPHS COVE SEC 3
Census Tract710202
Assessed Land Value$27,900
Assessed Improvement Value$229,890
Assessment Year2025

About this property

Here it is! A clean, spacious, well maintained, 3 bed, 2 1/2 bath home in a fantastic location! Outside, you will love the curb appeal of updated landscaping. Once inside, the open living, kitchen and dining areas have an abundance of natural light. In the kitchen, you find rich wood cabinets, granite counters, loads of storage and bar seating. Three ample sized bedrooms are upstairs along with 2 full bathrooms. The primary bathroom has a separate tub & shower, and the primary bedroom has his/hers closets. This home features large closets throughout and plenty of storage options. The backyard is fully fenced and has plenty of room for entertaining friends and family. Fridge, washer and dryer may all be included. Low Tax Rate and zoned to Barber's Hill ISD, this community includes a community park with playground and pavilion. Joseph's Cove is close to shopping, dining, Grand Parkway & I10 while still having the tranquil feel of the country.

Investor Tools

Property Icon
$257,790
Estimated Property Value
$500,222Estimated Mortgage Balance
$0Estimated Equity
0% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,560 /month
Positive
Cash Flow Estimate:
$520 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$221/month
$380/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,358
$257,790
2025
$27,900
$229,890
$257,790
No

Tax History

Year
Tax Paid
Assessed Value
2023
$1,358
$257,790

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Mortgage Research Center Llc
Unknown
$255,375
No
First
Mar 3, 2025
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$500,222
N/A
0%
194%
$3,064/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: Cove

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5535 Rainbow Rd | Property Details | No Agent List