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$489,230

NAL Estimated Property Value

909 Rainbow Dr, Richardson, TX, 75081

Off MarketInfo
Beds3 Beds
Baths3 Bath
Baths2,417 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$186.14 / sqft
Year BuiltBuilt in 1976

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Gas Cooktop, Gas Oven, Gas Water Heater, Microwave, Vented Exhaust Fan
FlooringCeramic Tile

Exterior

Exterior FeaturesRain Gutters, Private Yard
Lot Size10,000 sqft

Building Information

Year Built1976
Stories1
Roof Type105
Garage Spaces2

Land Information

APN42048500030220000
Lot Number22
SubdivisionCollege Park North
Land UseResidential
Legal DescriptionCOLLEGE PARK NORTH BLK C LT 22 INT202500131419 DD06232025 CO-DC 0485000302200 3CR04850003
Census Tract019039
Assessed Land Value$125,000
Assessed Improvement Value$364,230
Assessment Year2025

About this property

Chasing Rainbows? This One’s Worth Catching! Welcome to 909 Rainbow Drive, where rock-solid maintenance meets endless potential in the heart of Richardson. This well-cared for 3 bedroom, 2.5 bath home has had only one owner and boasts a long list of big-ticket updates already completed. All it needs is your vision for cosmetic finishes to bring it fully up to date. Inside you’ll find no carpet, only tile flooring throughout, and charming architectural details like vaulted ceilings with wood beams and plantation shutters on every window. The spacious kitchen has already been beautifully updated with granite countertops, stainless steel appliances, a six burner gas range, soft close cabinetry, and a farmhouse sink. The primary suite features a 2024 refresh with a granite double vanity and new tilework, and the hall bath includes a walk-in shower. Major updates include a new roof installed in 2017 and recently inspected in 2024, with a full report available for buyer review. The cast iron plumbing has been replaced with PVC, and the home features spray foam attic insulation, a custom LeafGuard gutter system, a foundation drip line system, and energy-efficient vinyl windows. The HVAC system has been well maintained and includes updated ductwork and an AprilAire whole house air purification system. The foundation is in excellent condition and has been evaluated, with a clean report available for added peace of mind. The backyard offers a spacious slate tiled patio, extended paver pathways, and freshly stained privacy fencing, perfect for entertaining or relaxing outdoors. With all major systems in great shape, this home is a rare opportunity to personalize a solid property in a highly desirable neighborhood.

Investor Tools

Property Icon
$489,230
Estimated Property Value
$342,392Estimated Mortgage Balance
$146,838Estimated Equity
30% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,935 /month
Positive
Cash Flow Estimate:
$978 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$690/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,828
$489,230
2025
$125,000
$364,230
$489,230
No

Tax History

Year
Tax Paid
Assessed Value
2024
$5,828
$489,230

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
United Wholesale Mortgage
Conventional
$348,000
No
First
Jun 23, 2025
Jul 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$342,392
$146,838
30%
70%
$2,087/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,010/mo
$2,087/mo
+$923/mo
7.4%

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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909 Rainbow Dr | Property Details | No Agent List