Two residences with a 480 sq ft metal shop on approximately 2.27
acres with 413 feet of platted open waterfront in a private
setting in a small quiet waterfront community. The charming hill
county inspired 2,375-square-foot main residence offers one bedroom
and one full bath on the main level, plus two additional bedrooms
upstairs, including a large bunk room with eight custom queen size
built-in bunks with storage, bonus room, and two additional full
baths. Quality construction is evident throughout with tall
ceilings, attractive woodwork, extensive stonework, wood flooring,
custom cabinetry, electric blinds, surround sound, a whole-home
lighting system, and an attached two-car garage. The open-concept
living and dining areas capture open water views and feature a
stone wood-burning fireplace with a gas starter, built-in bar with
wine refrigerator, ice machine and refrigerated beverage drawers.
The kitchen offers granite countertops, custom soft-close
cabinetry, bar seating, farmhouse sink, gas cooktop, and built-in
oven. A spacious utility and mudroom provides extensive built-in
storage and durable slate flooring. Positioned atop the hill, the
home overlooks the lake from an expansive covered patio finished in
slate tile, with three separate stone fire pit seating areas. The
2,159-square-foot second residence offers five bedrooms, 3.5
bathrooms, and a spacious living area. The home is in need of
repairs and updates, presenting an opportunity for renovation or
new construction. The generous acreage provides ample space to tear
down the second residence and construct a larger waterfront
residence while retaining the existing main home as guest
accommodations or sell one of the residences. Includes most
furnishings with a few exclusions. Conveniently located just
minutes from Highway 175, the property offers an easy commute to
DFW while remaining close to Cedar Creek Country Club where golf
and social memberships are available. Watercraft available
separately.
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Appliances: Built-In Gas Range, Dishwasher, Disposal, Electric Oven, Ice Maker, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Plumbed For Gas in Kitchen
Flooring Type: Carpet, Slate, Tile, Wood
Laundry Features: Electric Dryer Hookup, Washer Hookup, Utility Room, Full Size W/D Area, Dryer Hookup
Has Fireplace
Fireplace Features: Gas Starter, Stone
Fireplaces: 2
Exterior Details
Has Property Attached
Square Footage: 4534
Year Built: 2009
Waterfront Features: Lake Front, Lake Front – Main Body, Personal Watercraft Lift, Retaining Wall – Steel
Levels: Two
Other Structures: Boat House, Garage(s), Guest House, Outbuilding, Residence, Second Residence, Storage, Workshop w/Electric
Window Features: Window Coverings, Electric Shades
Construction Materials: Cedar, Concrete, Frame, Stone, Stone Veneer, Siding
Patio and Porch Features: Covered, Patio, Rear Porch
Lot Features: Few Trees, Landscaped, Waterfront, Acreage, Lrg. Backyard Grass, Sprinkler System, Subdivision, Water/Lake View
Lot Size Area: 2.23
Lot Size Units: Acres
Lot Size Acres: 2.23
Lot Size Square Feet: 97138.8
Lot Size Dimensions: 209x420x420x304
Tax Lot: 14
Utilities Details
Cooling Type: Central Air, Electric
Heating Type: Central, Electric
Building Info
Overview
General
Bedroom Count:
0
Building Condition:
0
Building Quality:
0
Construction Type:
0
Building Style:
0
Exterior Walls Type:
0
Interior Walls Type:
0
Roof Shape Type:
0
Roof Cover Type:
0
Floor Cover:
0
Basement Type:
0
Basement Area:
0
Garage Type:
0
Parking Space Count:
0
Patio Type:
0
Porch Type:
0
Pool Type:
0
Dimensions
Lot Size Square Feet:
15,246
Lot Size Depth Feet:
10
Total Building Area:
0
Building Area:
0
Heating and Cooling
Air Conditioning:
0
Heating:
0
Heating Fuel Type:
0
Utilities
Sewer System:
0
Water Service:
0
Building
Building Type:
0
Property Class:
V
Subdivision:
PLEASURE HILL
Land Acres:
0000000350
Standard Land Use Code:
8001
County Land Use Code:
C3
State Land Use Code:
C3
Legal Description 1:
PLEASURE HILL LOT 13
Neighborhood
School District Name:
Mabank Independent School District
Census Tract:
051300
Geography
Parcel:
34063
Lot:
13
Municipality:
MABANK
Latitude:
32.3726
Longitude:
-96.1376
Address
Full Address:
12391 Pleasure Hills Cir
Address - House Number:
12391
Address - Street Name:
Pleasure Hills
Address - Suffix Type:
Cir
State:
TX
City Name:
Mabank
Carrier Code:
R019
4-Digit Zip Code:
2978
Zip Code:
75147
Valuation
Tax
Tax Year:
2022
Tax Amount:
$166,745
Tax Rate Code Area:
2F CAD KC
Market Valuation
Market Total Value:
$100,000
Market Land Value:
$100,000
Assessments Valuation
Assessed Year:
2022
Assessed Total Value:
$100,000
Assessed Land Value:
$100,000
Sales
Current Sale Contract Date:
Jul 18, 2007
Current Sale Recording Date:
Aug 06, 2007
Current Sale Document Type:
71
Current Sale Input Document Number:
2007-00018810
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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