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$255,000

1509 Morrison Dr, Garland, TX, 75040

On MarketInfo
Just AddedInfo
Beds4 Beds
Baths3 Bath
Baths1,353 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$188.47 / sqft
Year BuiltBuilt in 1971

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 1Bathrooms Full 1
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Range, Refrigerator
FlooringCombination, Laminate

Exterior

Lot Size7,500 sqft

Building Information

Year Built1971
Roof Type105
Garage Spaces1

Land Information

APN26398500080220000
Lot Number22
SubdivisionNorthlake
Land UseResidential
Legal DescriptionNORTHLAKE ESTATES 4 BLK H LOT 22 INT201800221149 DD08142018 CO-DC 3985000802200 1CG39850008
Census Tract018121
Assessed Land Value$100,800
Assessed Improvement Value$185,310
Assessment Year2026

About this property

Fresh style, flexible space, and a backyard with room to unwind—welcome to 1509 Morrison Street! This updated Garland home features an open living and dining area that keeps everyday living connected, whether you’re hosting friends or enjoying a quiet night in. Neutral paint, wood-look flooring, and updated lighting create an inviting backdrop for your personal style. The kitchen pairs white cabinetry, sleek counters, a marble-look backsplash, and stainless-steel appliances for a clean, modern feel. Updated bathrooms feature contemporary tile and finishes, while two primary bedrooms offer flexibility for a variety of living arrangements. A separate utility closet accommodates full-size laundry connections. Outside, the spacious backyard offers room for outdoor dining, gardening, and weekend gatherings beneath mature trees. Roof and windows replaced in December 2021. Convenient access to President George Bush Turnpike, Firewheel shopping and dining, and routes into Dallas makes this home a great place to start your next chapter!

Investor Tools

$34,213Estimated Mortgage Balance
$251,897Estimated Equity
88% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,717 /month
Positive
Cash Flow Estimate:
$572 /month

Interested in this property?

Gracie Vela

Vela Realty Group LLC

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$247/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,528
$286,110
2026
$100,800
$185,310
$286,110
No

Tax History

Year
Tax Paid
Assessed Value
2025
$1,528
$286,110

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Resource Lending Group
Fannie Mae/Freddie Mac (Phased Out Keying In 2008 Because Fannie Mae Does Not Originate Loans Directly To Borrowers Or Investors. Most "New Conventional" Loans Meet Their General Underwriting Guidelines.)
$81,000
No
First
Jul 5, 2005
Aug 2035

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$34,213
$251,897
88%
12%
$486/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,040/mo
$486/mo
+$2,554/mo
12.8%

City: Garland

1509 Morrison Dr | Property Details | No Agent List