Selected for the Terner Labs Housing Venture Lab

120 Turners Circle, Mabank, TX 75156

Active
Listed 163 days ago
Owner-Occupant Eligible
$880,000

About $4,970 a month to live here, after the rent from the other home.

House + ADU3,058 sqft3 beds4 bathsListed Jun 2, 2026

A house with a second home on the lot. Live in one and rent out the other. How it works

Live here for about

$4,970a month

The second home on the lot rents for $1,182. We hold back $213 of that for repairs and an empty month, and the rest goes toward a $5,939 monthly payment.

Income to qualify: about $155,000 a year

With how much down?

At 20% down ($176,000) and 6.0%, 30-year fixed. Your rate and down payment change this.

Get rich slow: keep this loan ten years and the payments pay off about $115,000 of it. See the ten-year math

See which homes fit your numbers
How we work this out

The cost to live here is the loan payment, taxes, insurance and any dues, less the rent, with a little held back for repairs and an empty month. Income to qualify uses a 43% debt-to-income limit, counts 75% of the rent, and none of your other debts.

$26,400 minimum down payment. The cost above is at 20% down, and at the minimum it is higher. Set your own

ABOUT THIS HOME

Welcome to 120 Turners Circle in the sought-after Wood Canyon Waters subdivision on Cedar Creek Lake. Situated on 1.5 lots totaling approximately .29 acres, this open waterfront property offers protected cove water, open water views, and spectacular sunset views. The main home at 2405SF features 3 bedrooms, 3 full baths, and designed for comfortable lake living and entertaining. The open plan connects the living, dining, and kitchen areas, creating a warm and inviting gathering spaces. The living room offers beautiful water views, a wood-burning fireplace, and bar counter with pass-through access to kitchen. The kitchen features quartz countertops, a stainless double-bowl sink, electric range, abundant cabinetry, and an island with bar seating. The dining area provides plenty of room for family meals and entertaining. Two primary suites offer flexibility for owners and guests. One is on the main level and the second upstairs, each with private ensuite baths. The upstairs suite includes a private lakeside balcony perfect for enjoying lake breezes, stunning sunsets, and peaceful waterfront views. The third bedroom, currently used as an office, offers an exterior entrance. A full guest bath is located off the main living area. A detached 653SF guest quarters, flex space adds tremendous versatility featuring a kitchenette with counter space, cabinetry, double sink, microwave, refrigerator, and a full bath with tub-shower combination. Outside, mature shade trees, landscaping, circular drive, and courtyard entrance enhance the property's appeal. Outdoor deck areas provide ideal spaces for relaxing, entertaining, and enjoying lake activities. The single-slip boathouse includes a pontoon cradle. POA members enjoy access to a gated boat launch. Short term rentals are allowed. Create lasting family memories at the lake. Life is Better at the Lake.

House + ADU

Property Type

12,632 sqft

Lot Size

1983

Year Built

Listing Date: 06/02/2026

Listed by: Debbie Schwanbeck

Listing office: Fathom Realty LLC

Source: NTREIS #21306804

Series Homes is committed to full compliance with the Fair Housing Act and the Equal Credit Opportunity Act.

CHOOSE YOUR UNIT

Tap the one you would live in. The rest pay rent, and that rent comes off your monthly cost.

If someone lives in the unit you want, or a lease comes with the home, ask how moving in works on this one.

CHECK OUR MATHEvery line of the monthly cost is in here. Change the price or the down payment and watch it move.

OFFER PRICE

Change your offer and watch the monthly cost move.

Purchase Price

-15%
$880,000

List Price

+15%

FINANCIALS

How much do you want to put down?

Purchase price$880,000
Your Down Payment$176,000
Financed$704,000
Estimated Monthly Payment$5,939

Before rent: principal and interest at 6.0% on a 30-year fixed loan, taxes, insurance and any HOA dues. Your rate and down payment change this.

MONTHLY BREAKDOWN

Estimate at 20% down ($176,000) and 6.0%, 30-year fixed. Your rate and down payment change this.

Estimated Monthly Payment (Before Rental Income)
$5,939/month
Principal + Interest
$4,221
Property Taxes
$1,203
Home Insurance
$505
HOA$10
Rental Income (1 Unit)
$1,182/month

From the listing description.

Rental Expenses
-$213
Cost to live here
$4,970/month

Payment estimates shown by Series are illustrative only. Final loan terms, monthly payments, and eligibility will be determined by your mortgage loan originator.

BEFORE YOU OFFER

Now run it on your paycheck.

This page is priced at one down payment and one rate. Send the address and we run it at yours: what you would pay each month after rent, and which loan works on this home.

Free. No credit pull.

NTREIS logo

MLS# 21306804 · Listing office: Fathom Realty LLC

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.