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$390,000

NAL Estimated Property Value

5548 Norris Dr, The Colony, TX, 75056

Off MarketInfo
LeaseInfo
Beds3 Beds
Baths2 Bath
Baths1,714 Sq Ft
price_per_sqft$1.45 / sqft
Year BuiltBuilt in 2002

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesMicrowave
FlooringCeramic Tile, Wood

Exterior

Lot Size5,502 sqft

Building Information

Year Built2002
Stories1
Roof Type105
Garage Spaces1

Land Information

APNR225484
Lot Number27
SubdivisionLegend Crest Ph Iii
Land UseResidential
Legal DescriptionLEGEND CREST PH III BLK K LOT 27
Census Tract021531
Assessed Land Value$96,250
Assessed Improvement Value$268,750
Assessment Year2025

About this property

Beautiful single-story 3-bedroom, 2-bath home located in the highly sought-after Legends subdivision in The Colony. This open-concept floor plan offers spacious living areas with wood and ceramic tile flooring throughout. The kitchen features granite countertops, stainless steel appliances, a gas range, abundant cabinet and counter space, and a breakfast bar that opens seamlessly to the living area—perfect for entertaining. The split-bedroom layout provides added privacy, while the primary suite offers a comfortable retreat. Step outside to enjoy the covered patio with a built-in grill and a private backyard enclosed by an 8-foot board-on-board cedar fence, with additional space for boat or recreational vehicle parking. Residents enjoy access to community amenities, including a swimming pool, parks, and hike-and-bike trails, with schools conveniently located within walking distance. The landlord is a TREC-licensed broker. Convenient location near Highway 121, Toyota, Nebraska FM.

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$751/month
$500/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$7,058
$365,000
2025
$96,250
$268,750
$365,000
No

Tax History

Year
Tax Paid
Assessed Value
2025
$7,058
$365,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cornerstone Home Lending Inc
Conventional
$203,050
No
First
Nov 30, 2020
Dec 2050

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$181,129
$207,871
53%
46%
$1,218/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,340/mo
$1,718/mo
+$622/mo
7.2%

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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5548 Norris Dr | Property Details | No Agent List