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$293,000

NAL Estimated Property Value

701 Melissa Ln, Garland, TX, 75040

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,509 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$182.24 / sqft
Year BuiltBuilt in 1981

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Oven, Electric Range, Microwave
FlooringVinyl

Exterior

Exterior FeaturesRain Gutters
Lot Size8,125 sqft

Building Information

Year Built1981
Stories1
Roof Type105
Garage Spaces2

Land Information

APN26080740100260000
Lot Number26
SubdivisionCarriagehouse
Land UseResidential
Legal DescriptionCARRIAGEHOUSE ESTATES 4 BLK 10 LT 0026 VOL2001148/10493 DD07272001 CO-DC 4815191002600 32608074010
Census Tract018152
Assessed Land Value$70,000
Assessed Improvement Value$223,000
Assessment Year2025

About this property

Welcome to this updated one-story home designed for first-time buyers who want more than just a place to live. This home delivers comfort, peace of mind, and everyday convenience, making the leap into homeownership feel exciting instead of overwhelming. With more than $75,000 in major updates, the heavy lifting has already been handled for you. A replaced roof, completed foundation work, full PVC whole-home repipe, fresh interior paint, and durable LVP flooring create a truly move-in-ready experience where you can focus on living, not fixing - all while still leaving room to make the home your own. Step inside and you’ll find an inviting layout with split bedrooms for added privacy. The kitchen opens to the dining nook and flows into a spacious living area centered around a ceiling-height brick fireplace with a gas starter - a warm, welcoming backdrop for gatherings, movie nights, or quiet evenings at home. With three bedrooms and two full baths, the layout works well for new buyers, downsizers, or even as a long-term investment property. Outside, the property sits on a great lot surrounded by mature trees. The backyard offers plenty of room for pets, play, gardening, or weekend lounging. It’s the kind of outdoor space that adapts to your lifestyle as your needs change. And the location is hard to beat. You’re minutes from Hwy 78 and PGBT, offering easy access to the metroplex. Enjoy close proximity to the Firewheel area - a highly desirable hub for shopping, dining, and everyday conveniences, as well as Rowlett Creek and the Dallas County Nature Preserve, perfect for outdoor lovers. Lake Ray Hubbard is also nearby for boating, fishing, or lakeside dining. With major updates complete, a functional floor plan, and a location that blends convenience with lifestyle, this home is a standout opportunity for anyone ready to move beyond renting and start building something of their own. This is a place to settle in, grow, and truly feel at home.

Investor Tools

Property Icon
$293,000
Estimated Property Value
$149,132Estimated Mortgage Balance
$143,868Estimated Equity
49% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,758 /month
Positive
Cash Flow Estimate:
$586 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$481/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,306
$293,000
2025
$70,000
$223,000
$293,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,306
$293,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
A&D Mortgage Llc
Stand Alone First / Home Equity First Lien
$150,000
No
First
Jan 12, 2026
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$149,132
$143,868
49%
51%
$900/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,972/mo
$900/mo
+$1,072/mo
8.1%

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: Garland

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701 Melissa Ln | Property Details | No Agent List