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$420,000

605 Palomar Ln, Richardson, TX, 75081

PendingInfo
Beds3 Beds
Baths3 Bath
Baths2,027 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$207.2 / sqft
Year BuiltBuilt in 1979

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Cooktop
FlooringCeramic Tile, Vinyl

Exterior

Lot Size9,324 sqft

Building Information

Year Built1979
Stories1
Roof Type105
Garage Spaces2

Land Information

APN42047700100110000
Lot Number11
SubdivisionCollege Park East
Land UseResidential
Legal DescriptionCOLLEGE PARK EAST BLK J LT 11 INT201800144056 DD05292018 CO-DC 0477001001100 3CR04770010
Census Tract019039
Assessed Land Value$125,000
Assessed Improvement Value$290,840
Assessment Year2025

About this property

Charming Ranch home in Richardson's coveted North College Park, backing up to Jess Harben elementary, moments away from both Glenville & Twin Rivers Parks and the Spring Valley walking trail! Situated in a quiet neighborhood with low-maintenance landscaping. Inside features charming entryway leading to huge living room with brick fireplace, wet bar, vaulted ceilings, wood paneling and more. Kitchen features granite countertops, stainless apps, recent drop-in electric stove, breakfast room & more. Updated hall bath. Large bedrooms highlighted by huge master suite with double entrances to master bath, 2 walk-in closets, separate tub & shower, split vanities & more. Big back yard with wood privacy fence, just an alley's distance to the play field for Jess Harben. Fabulous location with everything today's buyer could want!

Investor Tools

$156,250Estimated Mortgage Balance
$259,964Estimated Equity
62% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,520 /month
Positive
Cash Flow Estimate:
$840 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$546/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,476
$415,840
2025
$125,000
$290,840
$415,840
No

Tax History

Year
Tax Paid
Assessed Value
2025
$4,476
$415,840

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Caliber Home Loans Inc
Conventional
$187,500
No
First
May 29, 2018
Jul 2048

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$156,250
$259,590
62%
38%
$1,125/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,310/mo
$1,125/mo
+$1,185/mo
6.7%

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: Richardson

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605 Palomar Ln | Property Details | No Agent List