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$1,158,900

$1,195,000

577 Richlands Way, Fate, TX, 75087

On MarketInfo
Just AddedInfo
Price DropInfo
Beds8 Beds
Baths8 Bath
Baths4,100 Sq Ft
QuadruplexQuadruplex
price_per_sqft$282.66 / sqft
Year BuiltBuilt in 2024

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 8Bedrooms 8
Bathrooms Half 8Bathrooms Half 8
AppliancesDishwasher, Electric Cooktop, Electric Range, Microwave, Refrigerator
FlooringVinyl

Exterior

Lot Size5,663 sqft

Land Information

APN4759-000A-0001-00-0R
Lot Number1
Land UseResidential Multi-Family
Legal DescriptionRICHLANDS PLAZA BLK A LOT 1
Census Tract040305
Assessed Land Value$41,055
Assessed Improvement Value$566,388
Assessment Year2025

About this property

Investor Opportunity in Downtown Fate! Fully leased 4-plex featuring four spacious 2-bedroom, 2-bath units, each approximately 1,025 sqft. Built with quality construction and modern finishes, including Euro-style cabinetry, quartz countertops, tiled backsplashes, electric appliances, open floor plans, ensuite bedrooms, walk-in showers with tiled surrounds, Low-E windows, spray foam insulation, fire-rated walls between units, and energy-efficient appliances and LED lighting. Located in the heart of growing Fate, close to I-30, George Bush Turnpike access, Lake Ray Hubbard, restaurants, shopping, golf, and local amenities. Strong rental market, stabilized income, and fully occupied—an excellent turnkey investment property.

Investor Tools

$645,399Estimated 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
$6,953 /month
Positive
Cash Flow Estimate:
$2,318 /month

Interested in this property?

Chaz Cameli

Monument Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$992/month
$1,385/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
N/A
$607,443
2025
$41,055
$566,388
$607,443
No

Tax History

Year
Tax Paid
Assessed Value
2024
N/A
$607,443

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Aspire Mortgage Advisors Llc
Conventional
$660,000
No
First
Apr 9, 2025
May 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$645,399
N/A
0%
106%
$3,958/mo

Learn About the Market: Opportunity in Texas

Local Market Pages
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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: Fate

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