1054 CR 348, Lexington TX 78947

Lexington, TX 78947 | No

Ed's Opinion of Value

$134,375 Ed's Estimate: $242,642 $320,000
Lowest Comp Recommended List: $168,000 to $178,000 Highest Comp
Looking at what buyers have actually paid for similar homes nearby, this property comes in at approximately $242,642. To generate strong buyer interest while maximizing value, I'd price this between $168,000 and $178,000. With 7 comparable homes on the market in NO, this price positions the property as the 4th most expensive of 7 comparable homes on the market. The larger floor plan (210 sqft compared to the average comp) is a meaningful differentiator in this price range. The 1900 construction puts this home 92 years older than the comp average, a factor in the pricing. With 7 similar homes currently listed in NO (a buyer's market), competition is a factor to consider. The trend in NO shows prices have fallen 3.6% in the past 6 months. 113 North Ave, Lexington TX 78947 nearby adjusts to $251,073; a strong comparable. The 7 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime. Ed Neuhaus, Neuhaus Realty Group
2 Beds
1 Baths 1 Full
1,506 Sq Ft
21.02 Acres
1900 Built

About This Property

Multi-residence, income-producing property!
At the edge of Old Town, 21+/- total acres with 3 homes, a 30'x40' metal building plumbed for kitchen/bath, barns w/pens & chute, pole barn, two storage sheds, two (50 amp and 30 amp) RV hookups and a yard full of one hundred year old, MASSIVE TREES!!! The primary residence is a 2/2 - 1,500 sqft. old family home estimated to be at least 100 years old that's been updated at some point (dropped ceilings, laminate flooring, brand-new cement front porch (1955) and double-pane windows...) but has original wood flooring under the laminate, a ton of potential for restoration and retains the original exterior look and feel. The covered front porch is shaded by an ENORMOUS tree and both the front and back (HUGE pecan trees) yards are covered in thick carpet grass and share a nostalgic view to the north of an old, two-story home in the distance, built at about the same time. It's not hard to imagine the bushels of black-eyed peas shelled under the shade of that big tree, the hot summer nights passed in rockers on the front porch and if you listen hard, you can almost hear grandma
in the kitchen.
The second home on the property is a pecan-tree shaded 1/1 brick home with a small kitchenette that's (infrequently) used as a guest house and does have other, unfinished rooms, but is in need of a considerable amount of repair. The third residence is a 1,132 sqft. - 2/1 brick home with detached garage and storage shed(s) and is used as a rental property. The listing also includes a newer 30'x40' metal building that's been plumbed for a kitchen and bath but never finished out, a livestock barn w/pens, a pole barn and two wooden storage sheds.
*Seller-imposed restrictions. No mobile, no modular homes.
*Property has 4 separate water meters, 4 electric meters, city water and 2 shallow wells.
*Refrigerator, Stove, Dishwasher, Microwave, Washer and Dryer convey.
*Homes are in need of repairs.
*See pics for approx. boundary lines.

Features

  • Ceiling Fan(s)
  • Tile Counters
  • Electric Dryer Hookup
  • Eat-in Kitchen
  • Entrance Foyer
  • Kitchen Island
  • Natural Woodwork
  • No Interior Steps
  • Washer Hookup

Location

Schools

School District Lexington ISD
Elementary Lexington
Middle School Lexington
High School Lexington

Property Details

Property Type Residential
Flooring Carpet, Laminate, Wood
Cooling Ceiling Fan(s), Wall/Window Unit(s)
Heating Fireplace(s), Space Heater, Wood, Wood Stove
Exterior Exterior Steps, Garden, Private Yard, RV Hookup
County Lee
MLS # 1413759

Listing History

MLS# 1413759 222 days (214 CDOM)
Feb 15, 2023 Off Market
May 27, 2022 Price Change $645,000
May 26, 2022 Listed $595,000

Frequently Asked Questions About 1054 CR 348, Lexington TX 78947

When was 1054 CR 348, Lexington TX 78947 built?

1054 CR 348, Lexington TX 78947 was built in 1900.

How much does 1054 CR 348, Lexington TX 78947 cost?

1054 CR 348, Lexington TX 78947 sold on February 15, 2023. Contact us for sale price details.

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