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Palo Pinto 76449
2461 Upper Burma Road
$775,000
● House - Off Market

2461 Upper Burma Road

Possum Kingdom Lake, TX 76449
bedrooms
3 Beds
bathrooms
0 Bath
square feet
2,029 Ft²
$1,081,438
RealtyHop Estimate
35.18%
Since Oct 1, 2020
National-US
Primary Model

About This Property

Awesome are the elevated panoramic views of Possum Kingdom from the vantage point at end of Upper Burma Road on desirable Peninsula. Stylish tri-level lakefront chateau, metal roof, beamed cathedral ceiling, wood burning fireplace, central air, ceiling fans, Saltillo tile floors, gourmet kitchen with breakfast bar, huge master bedroom suite has sitting area, huge paladin windows, Jacuzzi, and breathtaking balcony views. Expertly designed accommodating floorplan for family functions and entertaining extra guests. Outside you'll enjoy the multiple covered decks, extensive custom stone patios and stairways to the lake. Fishing pier and over 300 feet of deep water shoreline! Short term rental income a big plus!
Unit Size
2,029 Ft²
Days on Market
-
Land Size
0.67 acres
Price per sqft
$394
Property Type
House
Property Taxes
$747
HOA Dues
-
Year Built
2005

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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 #14065297)

Price History

Date / Event Date Event Price
Sep 24, 2020 Sold
Premium
Sold
Apr 12, 2019 Listed by Possum Kingdom Real Estate $800,000
Listed by Possum Kingdom Real Estate

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2005
  • Effective Year Built: 2005
  • 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: 29,359
  • Lot Size Frontage Feet: 0
  • Total Building Area: 2,029
  • Gross Building Area: 2,029
  • Building Area: 2,029
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 2,029
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: PK LAKE 5-2-31 AREA 1-16
  • Land Acres: 0000000674
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • Legal Description 1: PK LAKE 5-2-31 AREA 1-16 LOT 24 (FEE SIMPLE .508 AC & FERC .166 AC) #7346/N G#P0500-00-01160-024-00-0

Neighborhood

  • School District Name: Graford Independent School District
  • School Tax School District: GRI HPD ESD1
  • Census Tract: 000100

Geography

  • Account Number: R000022435
  • Subdivision Tract Number: Mar 03, 2005
  • Parcel: 184410000
  • Lot: 24
  • Municipality: GRAFORD
  • Latitude: 32.8688
  • Longitude: -98.5251

    Address

  • Full Address: 2461 Upper Burma Rd
  • Address - House Number: 2461
  • Address - Street Name: Upper Burma
  • Address - Suffix Type: Rd
  • State: TX
  • City Name: Graford
  • Carrier Code: H051
  • 4-Digit Zip Code: 4373
  • Zip Code: 76449

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,398,872
  • Tax Rate Code Area: CAD 182 GR

    Appraisal Valuation

  • Standard Deviation: 0.4536
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 9
  • Final Value: 733,954
  • High Value: 1,066,894
  • Low Value: 401,013

    Market Valuation

  • Market Total Value: $947,850
  • Market Land Value: $549,740
  • Market Improvement Value: $398,110

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $947,850
  • Assessed Land Value: $549,740
  • Assessed Improvements Value: $398,110

    Sales

  • Current Sale Contract Date: Sep 23, 2020
  • Current Sale Recording Date: Sep 28, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 70
  • Current Sale Input Document Number: 2020-00005404
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 Palo Pinto

Stats & Trends

Median Asking:

$399,000

Sale Price/ft²

$221

Below Asking

0.03%

Average Days on Market

87

Average Home Size

2278 ft²

Average Home Age

-

Currently For Sale

293 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

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NTREIS

Listed by: Keith Hanssen, Possum Kingdom Real Estate
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 14065297
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 2461 Upper Burma Road built and last sold?
The property at 2461 Upper Burma Road was built in 2005 and last sold on Sep 23, 2020 for $775,000.
How much is this home worth?
The estimated value of the home located at 2461 Upper Burma Road is $0.
What are some comparable homes to 2461 Upper Burma Road?
There are currently no comparable homes to 2461 Upper Burma Road.
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