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Abilene 79601 Ft. Phantom Area
242 Cove Road
$169,900
● House - Off Market

242 Cove Road

Abilene, TX 79601
bedrooms
2 Beds
bathrooms
0 Bath
square feet
1,156 Ft²
$1,045
Est. Monthly
5.54%
Cap Rate

About This Property

Welcome to your gorgeous, and affordable, lake front oasis! Nestled on a spacious lot, this charming 2 bedroom, 1 bathroom home offers the perfect blend of tranquility and comfort! Enjoy beautiful views of the lake from your large covered deck, ideal for entertaining or simply relaxing with a cold drink! The expansive lot provides plenty of space for outdoor activities and future expansions. Don't miss out on this rare opportunity to own a piece of paradise with direct access to water! Perfect for weekend getaways or year-round living.
Unit Size
1,156 Ft²
Days on Market
-
Land Size
0.79 acres
Price per sqft
$147
Property Type
House
Property Taxes
$211
HOA Dues
-
Year Built
2001

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

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.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (NTREIS #20655870)

Price History

Date / Event Date Event Price
Aug 5, 2024 Sold
Premium
Sold
Jun 28, 2024 In contract -
In contract
Jun 25, 2024 Listed by Sendero Properties, LLC $169,900
Listed by Sendero Properties, LLC

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2001
  • Effective Year Built: 2001
  • 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: 3
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 34,587
  • Lot Size Frontage Feet: 0
  • Total Building Area: 2,104
  • Gross Building Area: 2,104
  • Building Area: 2,104
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 11
  • Heated Square Feet: 1,156
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FT PHANTOM HILL SEC 5
  • Land Acres: 0000000794
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • Legal Description 1: FT PHANTOM HILL SECT 5 BLOCK A, LOT 3 ACRES .794

Neighborhood

  • School District Name: Abilene Independent School District
  • Census Tract: 020101

Geography

  • Account Number: 303932-000
  • Parcel: 18558
  • Block: A
  • Municipality: ABILENE
  • Latitude: 32.5699
  • Longitude: -99.6784

    Address

  • Full Address: 242 Cove Rd
  • Address - House Number: 242
  • Address - Street Name: Cove
  • Address - Suffix Type: Rd
  • State: TX
  • City Name: Abilene
  • Carrier Code: R012
  • 4-Digit Zip Code: 8418
  • Zip Code: 79601

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $252,612
  • Tax Rate Code Area: CAB GJO HS

    Appraisal Valuation

  • Standard Deviation: 0.4758
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 4
  • Final Value: 160,875
  • High Value: 237,434
  • Low Value: 84,315

    Market Valuation

  • Market Total Value: $172,390
  • Market Land Value: $99,250
  • Market Improvement Value: $73,140

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $172,390
  • Assessed Land Value: $99,250
  • Assessed Improvements Value: $73,140

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 08, 2018
  • Current Sale Recording Date: Feb 12, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 36
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Ft. Phantom Area

Stats & Trends

Median Asking:

$301,900

Sale Price/ft²

$191

Below Asking

0.05%

Average Days on Market

77

Average Home Size

2210 ft²

Average Home Age

53 years

Currently For Sale

10 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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NTREIS

Listed by: Anna Hughes, Sendero Properties, LLC
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 20655870
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 242 Cove Road built and last sold?
The property at 242 Cove Road was built in 2001 and last sold on Feb 8, 2018 for $109,087.
How much is this home worth?
The estimated value of the home located at 242 Cove Road is $0.
What are some comparable homes to 242 Cove Road?
There are currently no comparable homes to 242 Cove Road.
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