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$1,250,000

1538 Highland Rd, Dallas, TX, 75218

On MarketInfo
Just AddedInfo
Beds3 Beds
Baths2 Bath
Baths2,651 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$471.52 / sqft
Year BuiltBuilt in 1982

Property Lead Type:

Absentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesSome Gas Appliances, Dishwasher, Electric Oven, Electric Water Heater, Gas Cooktop, Disposal, Gas Water Heater, Plumbed For Gas
FlooringCarpet, Ceramic Tile, Engineered Hardwood

Exterior

Exterior FeaturesRain Barrel Cisterns, Rain Gutters
Lot Size21,793 sqft

Building Information

Year Built1982
Roof Type105
Garage Spaces1

Land Information

APN00000371557000000
Lot Number14
SubdivisionForest Hills
Land UseResidential
Legal DescriptionFOREST HILLS BLK 22/5273 LT 14 VOL83033/2396 DD02101983 CO-DC 5273 022 01400 3005273 022
Census Tract008102
Assessed Land Value$700,000
Assessed Improvement Value$624,400
Assessment Year2026

About this property

RARE HALF-ACRE OPPORTUNITY IN FOREST HILLS Set on approximately half an acre along quiet Highland Road, 1538 Highland offers a rare chance to own significant land in one of East Dallas’s most desirable neighborhoods. Whether renovated to showcase its original character or replaced with a custom architectural residence, the property offers exceptional possibilities. The 2,651-square-foot home features soaring vaulted ceilings, parquet floors, window shutters and abundant built-ins. A spacious game room and vaulted sunroom with tile flooring add distinctive character and flexible living space. Outdoors, mature privacy trees, landscaped grounds, a covered patio, circular drive, additional parking and carport create a private and welcoming setting. Forest Hills is known for its tree-lined streets, generous lots and proximity to White Rock Lake and the Dallas Arboretum. The neighborhood is experiencing significant renovation and new construction, making this an especially compelling setting for those seeking the scale and privacy of an established estate neighborhood. Enjoy trails, lake activities, gardens, restaurants and the vibrant culture of East Dallas, while remaining just minutes from Downtown Dallas. The property also benefits from a quiet setting adjacent to the Episcopal church, a longstanding and peaceful neighbor. A distinctive offering for the buyer with vision—preserve the character of the existing home, undertake a transformative renovation, or create something entirely new on this exceptional piece of Forest Hills.

Investor Tools

$168,988Estimated Mortgage Balance
$1,155,412Estimated Equity
87% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$7,946 /month
Positive
Cash Flow Estimate:
$2,649 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,102/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,597
$1,324,400
2026
$700,000
$624,400
$1,324,400
No

Tax History

Year
Tax Paid
Assessed Value
2025
$6,597
$1,324,400

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Amerisave Mortgage Corp
Conventional
$195,500
No
First
Dec 23, 2019
Jan 2035

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$168,988
$1,155,412
87%
13%
$1,173/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,080/mo
$1,173/mo
+$907/mo
1.9%

City: Dallas

1538 Highland Rd | Property Details | No Agent List