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Henderson 75143
516 Lake By Drive
$113,000
● House - Off Market

516 Lake By Drive

Kemp, TX 75143
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,436 Ft²
$717
Est. Monthly
$8
HOA / Fees
9.86%
Cap Rate

About This Property

HUD Owned Home FHA Case# 511-299286 Sold AS-IS. MAJOR PRICE IMPROVEMENT AND AVAILABLE FOR ALL BIDDERS. COME LOOK OR TAKE A SECOND LOOK BEFORE IT IS GONE! Come check out this great country home located in the Lake By Subdivision in the Seven Points community. This property is in the Mabank ISD. This 3 bedroom home has 2 full bathrooms, large open living-dining-kitchen combo and a rustic cabin design. Vaulted ceilings in the main area, knotty pine shiplap and more. Great views of the countryside and all sitting on approximately 3 acres of land. Come take a look before its gone. Purchase this home with as little as $100 down when utilizing the HUD FHA Sales Incentive.
Unit Size
1,436 Ft²
Days on Market
-
Land Size
2.94 acres
Price per sqft
$100
Property Type
House
Property Taxes
-
HOA Dues
$8
Year Built
1996

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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: 7 months ago (NTREIS #21015605)

Price History

Date / Event Date Event Price
Apr 9, 2026 Sold
Premium
Sold
Feb 20, 2026 In contract -
In contract
Feb 9, 2026 Relisted $144,160
Relisted
Nov 6, 2025 In contract -
In contract
Oct 24, 2025 Price Decreased $144,160
↓ $25K (15%)
Price Decreased
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1996
  • Effective Year Built: 1996
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 5
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 6
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 127,836
  • Lot Size Depth Feet: 10
  • Lot Size Frontage Feet: 10
  • Total Building Area: 1,400
  • Gross Building Area: 1,400
  • Building Area: 1,400
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 5
  • Heating: 0
  • Heated Square Feet: 1,400
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LAKE BY ACRES (79)
  • Land Acres: 0000002934
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • Legal Description 1: LT 33 AB 470 J LOVE SUR, LAKE BY ACRES LT 33, D/3

Neighborhood

  • School District Name: Mabank Independent School District
  • School Tax School District: MABANK ISD
  • Census Tract: 950700

Geography

  • Assessors Map Reference: 4X
  • Account Number: R000053378
  • Parcel: 3275-0000-0330-50
  • Lot: 33
  • Municipality: KEMP
  • Latitude: 32.3146
  • Longitude: -96.2192

    Address

  • Full Address: 516 Lake By Dr
  • Address - House Number: 516
  • Address - Street Name: Lake By
  • Address - Suffix Type: Dr
  • State: TX
  • City Name: Kemp
  • Carrier Code: R009
  • 4-Digit Zip Code: 8692
  • Zip Code: 75143

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $354,273
  • Tax Rate Code Area: HC,HE,HR,M

    Appraisal Valuation

  • Standard Deviation: 0.4536
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 9
  • Final Value: 191,292
  • High Value: 278,076
  • Low Value: 104,507

    Market Valuation

  • Market Total Value: $254,583
  • Market Land Value: $15,000
  • Market Improvement Value: $239,583

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $254,583
  • Assessed Land Value: $15,000
  • Assessed Improvements Value: $239,583

    Sales

  • Current Sale Contract Date: Nov 16, 2021
  • Current Sale Recording Date: Nov 16, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 40
  • Current Sale Input Document Number: 2021-00022200
  • Previous Sale Recording Date: Jul 11, 2018
  • Previous Sale Contract Date: Jul 10, 2018
  • Previous Sale Amount: $120,400
  • Previous Sale Document Type: 70
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 Henderson

Stats & Trends

Median Asking:

$320,000

Sale Price/ft²

$186

Below Asking

0.04%

Average Days on Market

96

Average Home Size

2094 ft²

Average Home Age

-

Currently For Sale

665 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: Kevin Riney, NE Texas Regional Realty
Last Updated: 7 months ago
Data Source: NTREIS MLS, MLS# 21015605
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 516 Lake By Drive built and last sold?
The property at 516 Lake By Drive was built in 1996 and last sold on Nov 16, 2021 for $192,800.
How much is this home worth?
The estimated value of the home located at 516 Lake By Drive is $0.
What are some comparable homes to 516 Lake By Drive?
There are currently no comparable homes to 516 Lake By Drive.
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