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Henderson 75148
5578 Ridge Way
$1,125,000
● House - Off Market

5578 Ridge Way

Malakoff, TX 75148
bedrooms
4 Beds
bathrooms
0 Bath
square feet
2,049 Ft²
$6,154
Est. Monthly
$21
HOA / Fees
2.24%
Cap Rate

About This Property

Located in the private community of Christopher Ridge at Cedar Creek Lake on wide open water, down a wooded drive on almost an acre of land, this 4 bedroom, 3 bath compound is the perfect retreat plus a tiny house for guests. It features an open floor plan – waterside living-dining-kitchen; waterside Master bedroom with en suite plus office; outdoor living area spanning the width of the home; Tiki Hut outdoor kitchen, bar and fire pit; large boat house and separate sitting-fishing dock. There's a 2-car main garage plus a 1-car garage-workshop.
Unit Size
2,049 Ft²
Days on Market
-
Land Size
0.88 acres
Price per sqft
$610
Property Type
House
Property Taxes
-
HOA Dues
$21
Year Built
1997

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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 #20469985)

Price History

Date / Event Date Event Price
Jan 22, 2024 Sold
Premium
Sold
Nov 6, 2023 Listed by Ebby Halliday Realtors $1,249,000
Listed by Ebby Halliday Realtors

Property Highlights

Air Conditioning
Fireplace
Garage

Building Info

Overview

    General

  • Year Built: 1997
  • Effective Year Built: 1997
  • 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: 3
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 10
  • Garage Square Area: 804
  • Parking Space Count: 3
  • Patio Type: 0
  • Porch Type: 6
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 38,294
  • Total Building Area: 2,049
  • Gross Building Area: 2,049
  • Building Area: 2,049
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,049
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CHRISTOPHER RIDGE (91)
  • Land Acres: 0000000879
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • Legal Description 1: LTS 11B AB 133 T CARO SUR, CHRISTOPHER RIDGE SUBD, LTS 11B,12,13, D/74

Neighborhood

  • School District Name: Eustace Independent School District
  • School Tax School District: EUSTACE ISD
  • Census Tract: 951102

Geography

  • Account Number: R000038517
  • Parcel: 2395-0000-0120-30
  • Lot: 11B,12,
  • Municipality: MALAKOFF
  • Latitude: 32.2259
  • Longitude: -96.0056

    Address

  • Full Address: 5578 Ridge Way
  • Address - House Number: 5578
  • Address - Street Name: Ridge
  • Address - Suffix Type: Way
  • State: TX
  • City Name: Malakoff
  • Carrier Code: R001
  • 4-Digit Zip Code: 4157
  • Zip Code: 75148

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $374,211
  • Tax Rate Code Area: EU,HC,HE,H

    Appraisal Valuation

  • Standard Deviation: 0.4461
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 10
  • Final Value: 577,104
  • High Value: 834,606
  • Low Value: 319,601

    Market Valuation

  • Market Total Value: $790,387
  • Market Land Value: $435,000
  • Market Improvement Value: $355,387

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $472,737
  • Assessed Land Value: $435,000
  • Assessed Improvements Value: $355,387

    Exemptions

  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jan 22, 2024
  • Current Sale Recording Date: Jan 23, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 797
  • Previous Sale Recording Date: Apr 28, 2015
  • Previous Sale Contract Date: Apr 27, 2015
  • Previous Sale Document Type: 71
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

2090 ft²

Average Home Age

-

Currently For Sale

679 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

Click here to view more rentals in the neighborhood.
NTREIS

Listed by: Janice Haney, Ebby Halliday Realtors
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 20469985
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 5578 Ridge Way built and last sold?
The property at 5578 Ridge Way was built in 1997 and last sold on Jan 22, 2024 for $1,047,375.
How much is this home worth?
The estimated value of the home located at 5578 Ridge Way is $1,223,014.
What are some comparable homes to 5578 Ridge Way?
There are currently no comparable homes to 5578 Ridge Way.
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