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$185,000

315 Martin Luther King Jr Street, Mineral Wells, TX, 76067

On MarketInfo
Just AddedInfo
Beds2 Beds
Baths1 Bath
Baths1,942 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$95.26 / sqft
Year BuiltBuilt in 1960

Property Lead Type:

High EquityCash BuyersMove-In Ready

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms 1Bathrooms 1
AppliancesElectric Range
FlooringCarpet, Linoleum, Wood

Exterior

Exterior FeaturesStorage
Lot Size7,492 sqft

Building Information

Garage Spaces1

Land Information

APN122880000
Lot Number14-16
SubdivisionFrench
Land UseResidential
Legal DescriptionFRENCH BLK 23 LOTS 14-16 G#F0400-00-00230-014-00-0
Census Tract000800
Assessed Land Value$27,000
Assessed Improvement Value$115,510
Assessment Year2025

About this property

Charming 2 or 3 Bedroom Home Plus Extra Lot with Plenty of Potential! Located in Mineral Wells, this property is positioned in a community experiencing renewed interest and investment, highlighted by the ongoing renovation and restoration of the historic Baker Hotel. The revitalization of the Baker Hotel is bringing new attention and activity to downtown Mineral Wells, adding to the town's appeal for residents, visitors, and investors. This property offers a great opportunity for investors, renovators, or buyers looking for a project with character and room to add value. The home features real hardwood flooring in most rooms, two huge living areas, a spacious dining room and kitchen, and a cozy wood-burning fireplace. One of the oversized living areas could potentially be enclosed to create a large primary bedroom or additional private living space, giving the next owner flexibility to rework the floor plan. The property does need significant work, including foundation repairs, roof replacement, and interior updating, and is being sold AS IS. Adding even more value is a newly built oversized detached one-car garage with plenty of room for a vehicle, workshop, or additional storage. The property also includes a large 13' x 35' detached shed building with porch and an additional lot located behind the main house. With the appropriate improvements, connection to city utilities, the detached building may offer potential for additional living space, a separate tiny-home-style dwelling, rental use, storage, or other future possibilities. It could also be removed to create additional yard space. With a spacious layout, original hardwood floors, fireplace, oversized garage, additional building, and extra lot, this property offers multiple possibilities for someone willing to put in the work. Buyer to verify all information, zoning, building requirements, utility availability, and potential uses with the appropriate city and county authorities. Property is being sold AS IS.

Investor Tools

$0Estimated Mortgage Balance
$177,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,110 /month
Positive
Cash Flow Estimate:
$370 /month

Interested in this property?

Rick Lamoureux

Skylite Realty LLC

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$112/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$461
$142,510
2025
$27,000
$115,510
$142,510
No

Tax History

Year
Tax Paid
Assessed Value
2025
$461
$142,510

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$177,000
100%
0%
$0/mo

City: Mineral Wells