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$589,999

928 Pelican Drive, Winnsboro, TX, 75494

$766,999 ARVInfo
On MarketInfo
Beds3 Beds
Baths2 Bath
Baths2,100 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$280.95 / sqft
Year BuiltBuilt in 1992

Property Lead Type:

Must-SellARV FlipHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
AppliancesDishwasher, Disposal, Electric Cooktop, Electric Oven, Refrigerator
FlooringCeramic Tile, Vinyl

Exterior

Exterior FeaturesBoat Slip

Building Information

Year Built1991

Land Information

APN02281-00000-00027-000000
Lot Number27
SubdivisionPelican Bay
Land UseResidential
Legal DescriptionAB 411 W H RAVEY LT 27 UN 2 PELICAN BAY STRUCTURAL ELEVATION ; 397.456
Census Tract950101
Assessed Land Value$261,080
Assessed Improvement Value$373,320
Assessment Year2025

About this property

Owners are ready to move!! Priced below market Value this waterfront retreat on Lake Cypress Springs featuring a 3-bed, 2-bath hilltop home on a wooded half-acre lot with approximately 250 ft of shoreline. Property includes a private boat slip, refinished retaining wall, full sprinkler system, and access to community amenities including boat ramp, park, and pool. Open floor plan with lake views, dedicated office, oversized utility room, electric cooktop, built-in microwave, and new dishwasher. Second living area offers bay windows, built-in shelving, and flexible use options. Primary suite includes gas fireplace, private exterior access, large walk-in closet, oversized shower, dual sinks, and lake views. Exterior features include metal roof, paved driveway, two carports, enclosed hot tub, wraparound porch, and an 18×18 deck overlooking the water. Suitable for full-time living, weekend use, or remote work with a peaceful lakeside setting.

Investor Tools

$223,411Estimated Mortgage Balance
$376,589Estimated Equity
62% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
$766,999
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,600 /month
Positive
Cash Flow Estimate:
$1,200 /month

Interested in this property?

Sheri Sanders

Monument Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$322/month
$250/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$866
$325,070
2025
$261,080
$373,320
$634,400
No

Tax History

Year
Tax Paid
Assessed Value
2025
$866
$325,070

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Rocket Mortgage Llc
Conventional
$235,611
No
First
Jul 31, 2023
Aug 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$223,411
$376,589
62%
37%
$1,413/mo

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.

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: Winnsboro

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