7202 Lakeshore Drive
About This Property
This property offers a different starting point, with several major components already completed.
Positioning for the Final Mile
The foundation of this property is solid. Key structural and system updates have already been completed, reducing common renovation risks.
Risk Mitigation: The plumbing is new. The foundation was recently completed and remains under warranty.
Progress Underway: New flooring is installed throughout. Two bathrooms are nearing completion.
The Skeleton: The roof is within its service life, and the electrical system is operational.
The Opportunity: Remaining work is primarily HVAC and cosmetic finishes, creating a clear path to completion without a full-scale renovation.
The property is located within convenient proximity to several area amenities, including Sapphire Bay, The Harbor at Rockwall, Rowlett Creek Preserve, Downtown Rowlett, and Pecan Grove Park.
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 7, 2026 | No longer available | - | |
| No longer available | |||
| Apr 17, 2026 | Listed by Wise Cardinal Realty | $234,999 | |
| Listed by Wise Cardinal Realty | |||
| Mar 25, 2026 | Sold | ||
| Sold | |||
| Mar 3, 2026 | In contract | - | |
| In contract | |||
| Feb 21, 2026 | Listed by JPAR Dallas | $239,000 | |
| Listed by JPAR Dallas | |||
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Here's a great opportunity for a flip or addition to your rental portfolio! The home has been partially updated, including new laminate floors & paint throughout. Tilework in both bathrooms has been done. The kitchen has been fully gutted and is a blank slate. Some more TLC and the home will make an incredible investment.
Property sold as-is. Owner will do no repairs. This is an REO so there's no seller's disclosure. Owner has no survey.
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About Lakeview Meadows Estates
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Last Updated: 5 months ago
Data Source: NTREIS MLS, MLS# 21243589
Details provided by NTREIS and may not match the public record
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