tomo logo

$7,300,000

Beds
6
Baths
11.0
sq ft
12,731

5112 Palomar Ln, Dallas, TX 75229

5112 Palomar Ln

Dallas, TX 75229

  • 238 days on market
    • Price drop $500,000↓
Exceptional gated property on 1.25 acres in Lobello Estates. Built by Crescent Custom Homes, this estate has been impeccably maintained. Prime location on a beautifully manicured lot with lush grounds, cascading waterfall and fountain. Interior features include first floor primary bedroom with his and her spa like bathrooms, custom closets, downstairs guest suite, study, elevator, climate controlled walk in wine storage and great room with large wet bar. Kitchen has been beautifully outfitted with designer lighting, top of the line appliances and quartzite countertops. Upstairs are 4 oversized bedrooms all with en suite baths, separate mother in law suite with living room and kitchenette, exercise room, gameroom, media room. This home is an entertainers dream with pool, spa, impressive outdoor kitchen. heated patio and beautiful landscaping. Huge additional yard is perfect for tennis or pickleball court. Picture perfect setting in the heart of Dallas near the private school corridor.

Details

Property type

Single Family Residence

Est. home value

$7,962,152

Lot size

1.25 acres

Price per sq ft

$574

Year built

2006

Annual property taxes

$197,351

Price History

09/27/2024
NTREIS

NTREIS #20558665

Price change
$7,300,000
-6.41%
04/12/2024
NTREIS

NTREIS #20558665

Price change
$7,800,000
-6.02%
03/12/2024
NTREIS

NTREIS #20558665

Listed
$8,300,000

Schools & Community

Neighborhood: 

Preston Hollow

Elementary school: 

Pershing

Middle school: 

Benjamin Franklin

High school: 

Hillcrest

School district: 

Dallas ISD

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$5,327,789
Asking price
$7,300,000
Closing costs (~8% of asking)
-$584,000
Est. remaining loan balance
-$1,388,211
Cash to seller
$5,327,789

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Plainscapital Bank

Loan start date

September 2008

Original loan amount

$2,000,000

Est. remaining balance

$1,388,211

Interest rate

6.52%

Loan type

Not Provided, 30 year

Seller

Rayford Wilkins Jr and Lorena Wilkins

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/05/2024 at 7:25 PM

Listing updated: 09/27/2024 at 11:34 AM

Listed by: Brandi Bragg, Allie Beth Allman & Assoc. Phone #: (214) 521-7355

MLS: NTREIS #20558665

NTREIS logo

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