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$500,000

6601 Terrace Mill Ln, Plano, TX, 75024

$650,000 ARVInfo
Under ContractInfo
Beds5 Beds
Baths5 Bath
Baths4,561 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$109.63 / sqft
Year BuiltBuilt in 2002

Property Lead Type:

BankruptcyAbsentee Owner

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 3.5Bathrooms Full 3.5
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Gas Cooktop, Microwave, Double Oven
FlooringWood

Exterior

Lot Size10,084 sqft

Building Information

Year Built2002
Stories2
Roof Type105
Garage Spaces4

Land Information

APNR222377
Lot Number8
SubdivisionKings Ridge Addn
Land UseResidential
Legal DescriptionKINGS RIDGE ADDN BLK F LOT 8
Census Tract021626
Assessed Land Value$250,323
Assessed Improvement Value$698,693
Assessment Year2025

About this property

This home is being sold AS-IS. Space, flexibility, and opportunity come together in this spacious Plano home. With a floor plan designed to accommodate a variety of lifestyles, the home offers generous living areas, multiple gathering spaces, and plenty of room for everyone to spread out. The first floor features an open living and kitchen area, dedicated office, and a spacious primary suite with its own fireplace. Large windows bring in abundant natural light, while wood flooring, granite countertops, and multiple living areas provide a great starting point for a buyer ready to make the home their own. Upstairs offers three additional bedrooms, a second living area, and a large game room with a bar, creating flexible space for entertaining, working from home, hobbies, or guests. Outside, the covered porch and patio extend the living space into the backyard with room to relax, entertain, or create a new outdoor retreat. Property is being sold AS-IS and is priced with its current condition in mind. This is an opportunity for a buyer to bring new life to a substantial home in an established Plano location. Buyer and buyer's agent should perform their own due diligence regarding the property's condition and any desired inspections.

Investor Tools

$668,124Estimated Mortgage Balance
$296,872Estimated Equity
34% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
$650,000
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,772 /month
Positive
Cash Flow Estimate:
$1,924 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$922/month
$900/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,249
$621,500
2025
$250,323
$698,693
$949,016
No

Tax History

Year
Tax Paid
Assessed Value
2024
$6,249
$621,500

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Strong Home Mortgage Llc
Conventional
$675,000
No
First
Oct 27, 2025
Nov 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$668,124
$350,876
34%
69%
$4,047/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,680/mo
$4,947/mo
$-1,267/mo
4.6%

Learn About the Market: Opportunity in Texas

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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: Plano

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6601 Terrace Mill Ln | Property Details | No Agent List