3 beds 2 baths 1,068 sqft

Texas Foreclosure Opportunity With 3 Bedrooms and 2 Bathrooms for $20,487

An Affordable Three Rivers Texas Foreclosure Opportunity

Affordable real estate opportunities in Texas can attract attention when they combine a low asking price with a practical residential layout and an established neighborhood setting. In Three Rivers, Texas, a single-family residence with three bedrooms, two full bathrooms, and approximately 1,068 square feet is currently listed as a foreclosure and offered for $20,487.

Built in 1959, the one-story home sits on a 7,492-square-foot lot and features a traditional design, wood siding, natural lighting, spacious living areas, a carport, mature trees, and a comfortable layout. The property also benefits from public water and public sewer, a slab foundation, a composition roof, and asphalt road access.

The property is classified as real estate owned, meaning buyers should understand that purchasing a foreclosure or REO property can involve different considerations from purchasing a conventional owner-occupied home. Condition, title, inspection opportunities, financing, repair requirements, and transaction procedures should all be investigated carefully.

At $20,487, the property represents a relatively low entry point for a three-bedroom, two-bathroom home. However, buyers should not assume that the asking price represents the total cost of ownership. A thorough inspection and financial review are essential before making a purchase decision.

Property Overview

The Three Rivers property offers a straightforward residential configuration with three bedrooms and two full bathrooms.

Key listed details include:

• Asking price of $20,487
• Three bedrooms
• Two full bathrooms
• Approximately 1,068 square feet
• One-story design
• Built in 1959
• Approximately 7,492 square feet of lot area
• Traditional architectural style
• Wood siding
• Slab foundation
• Composition roof
• Attached one-car carport
• No garage
• Public sewer
• Public water
• Carpet, laminate, and tile flooring
• Dishwasher included
• Heating listed as other
• Ceiling fans and other cooling features
• Mature trees
• Natural lighting
• Asphalt road surface
• Annual property taxes listed at approximately $1,149
• Tax assessed value listed at $73,970
• No HOA listed

The property was placed on the market on September 16, 2026. The supplied Zillow information shows six days on the platform, with approximately 288 views and 30 saves.

Understanding the Foreclosure and REO Status

One of the most important aspects of this listing is its foreclosure status.

The property is identified as a real estate owned property, commonly referred to as an REO property. REO properties generally come to market after a foreclosure process and subsequent ownership by a lender or other institutional entity, although the exact circumstances of a particular property should always be verified through the listing agent and transaction documents.

Buyers considering an REO property should pay close attention to the terms of sale.

The condition may differ from a conventional listing, and the seller may have limited knowledge about the property’s history. Buyers should determine whether inspections are permitted, whether the property is being sold as-is, whether there are any outstanding liens or municipal issues, and what title insurance or other protections will be available.

The foreclosure designation should therefore be treated as an important part of the due-diligence process.

A $20,487 Asking Price

The $20,487 asking price immediately makes this property stand out.

Based on the listed 1,068 square feet, the price works out to approximately $19 per square foot.

A buyer should nevertheless avoid evaluating the opportunity based solely on price per square foot. A property’s condition, location, market value, repair needs, taxes, insurance, financing costs, and future maintenance can all have a significant impact on the total cost.

The listed tax assessment of $73,970 is also higher than the current asking price. However, a tax-assessed value should not be interpreted as an independent appraisal or guaranteed market value.

The best way to understand the property’s potential is to compare it with recent sales of similar homes in Three Rivers and evaluate its actual condition.

A Practical Three-Bedroom Layout

The home includes three bedrooms, all located on the first level.

A one-story three-bedroom home can be appealing to a broad range of buyers because it eliminates the need for daily stair use. It can work for families, couples, individuals who want extra rooms, or buyers who need space for a home office or guest accommodations.

The primary bedroom is listed at approximately 192 square feet, with dimensions of 12 by 16 feet. The other two bedrooms are each listed at approximately 120 square feet with dimensions of 10 by 12 feet.

These measurements provide a useful indication of the home’s basic bedroom layout, although buyers should independently verify measurements and condition.

Two Full Bathrooms

The property includes two full bathrooms.

For a home of approximately 1,068 square feet, two full bathrooms can provide considerable convenience. Multiple bathrooms can be especially useful for families and can improve the functionality of a three-bedroom home.

The condition of both bathrooms should be evaluated carefully during an inspection. Buyers should look at plumbing fixtures, water pressure, drainage, flooring, ventilation, walls, ceilings, and signs of moisture damage.

If the property requires cosmetic or functional improvements, bathroom updates could potentially become part of a broader renovation plan.

Comfortable Living Room

The listed living room measures approximately 143 square feet, with dimensions of 11 by 13 feet.

The living area is described as having natural lighting and spacious living areas. A comfortable living room can serve as the central gathering space in a smaller one-story home.

Depending on the existing condition, a future owner could potentially improve the room through updated flooring, paint, lighting, window treatments, furniture placement, and other cosmetic changes.

The listing indicates that flooring throughout the property includes carpet, laminate, and tile, so buyers should evaluate each surface individually.

Kitchen Area

The listed kitchen measures approximately 90 square feet, with dimensions of 10 by 9 feet.

The property includes a dishwasher, according to the supplied listing information.

Although the kitchen is relatively compact, an efficient layout can make good use of limited space. Buyers should inspect the cabinets, countertops, appliances, plumbing connections, electrical outlets, flooring, and ventilation.

Depending on the condition, the kitchen may require anything from basic cosmetic improvements to a more extensive renovation.

For an investor, the kitchen can also be one of the areas where thoughtful improvements have a meaningful impact on a property’s overall presentation.

One-Story Design

The home’s one-story configuration is another practical feature.

Single-level homes can appeal to buyers who prefer a layout without stairs. They can also be convenient for households with young children, older residents, or anyone who simply prefers having bedrooms and living areas on the same floor.

The property’s one-story design also simplifies certain aspects of renovation because there is no second level to access for repairs or upgrades.

The entire listed living area is concentrated on one floor, making the property relatively straightforward to understand from a floor-plan perspective.

Wood Siding and Traditional Character

The property is described as having wood siding and a traditional architectural style.

The home’s 1959 construction places it in a period when many American houses featured straightforward layouts and practical exterior designs.

Wood siding can give a property a classic appearance, but it also requires inspection and maintenance. Buyers should check for rot, insect damage, loose boards, water penetration, paint deterioration, and other exterior concerns.

If the siding is in reasonable condition, cleaning, repair, and repainting may be sufficient. If deterioration is widespread, more extensive exterior work may be necessary.

Mature Trees and Outdoor Setting

The property includes mature trees, which can contribute to shade, privacy, and overall curb appeal.

Established trees can be particularly attractive in residential neighborhoods because they can make a property feel more settled and provide outdoor comfort during warmer months.

However, mature trees should also be inspected for dead branches, disease, root issues, or proximity to the home and utility lines.

A buyer may want to evaluate whether tree maintenance will be necessary and whether any roots could affect the foundation, plumbing, driveway, or other structures.

7,492-Square-Foot Lot

The home sits on approximately 7,492 square feet of land, or roughly 0.17 acre.

This provides enough outdoor space for typical residential activities while remaining relatively manageable from a maintenance perspective.

The lot is listed in the category of 0 to 1/4 acre, and the property has mature trees.

A future owner could potentially improve the outdoor area through landscaping, a garden, seating areas, or other permitted improvements.

The exact property boundaries should be verified before planning any fencing, landscaping, parking changes, or additional structures.

Attached Carport Instead of a Garage

The property does not have a garage but does include an attached one-car carport.

A carport provides useful covered parking and can protect a vehicle from direct sun and weather. It can also serve as a convenient covered transition between the vehicle and the home.

Buyers should inspect the roof, support posts, pavement, drainage, and connections to the main structure.

Because there is no enclosed garage, buyers who require workshop or secure storage space may need to consider whether additional storage solutions are possible.

Public Water and Sewer

The property is connected to public water and public sewer.

This is a useful feature for buyers because it avoids some of the considerations associated with private wells and septic systems.

Nevertheless, buyers should verify the condition of the water and sewer connections, confirm that accounts are current, and investigate any municipal requirements or outstanding utility balances.

Public utilities can simplify ownership, but the condition of interior plumbing and service lines still needs to be evaluated.

Slab Foundation

The home has a slab foundation.

Slab construction can offer advantages in certain climates and can eliminate the need for basement maintenance. However, plumbing and structural issues beneath or around a slab can sometimes be more difficult to access than systems located in a basement or crawl space.

Buyers should inspect the slab for cracking, settlement, uneven flooring, moisture issues, and other signs that may warrant further evaluation.

If plumbing lines are located beneath the slab, any major repairs could potentially involve additional work and expense.

Composition Roof

The roof is listed as composition.

Roof condition is one of the most important issues to evaluate when purchasing a foreclosure property.

Buyers should determine the approximate age of the roof, inspect shingles for deterioration, look for evidence of leaks, examine flashing and penetrations, and inspect the attic or ceiling areas for signs of water intrusion.

A roof replacement can represent a significant expense, so its condition should be incorporated into the financial analysis.

Heating and Cooling

The listing identifies heating as “Other,” meaning the specific heating system is not clearly defined in the supplied property facts.

Cooling is described as including ceiling fans and other cooling features.

Because the property is a foreclosure, buyers should determine exactly what equipment is present and whether it is functional.

A professional HVAC inspection may be appropriate.

Buyers should verify:

• Heating system type
• Age of equipment
• Operating condition
• Fuel source
• Electrical connections
• Cooling equipment
• Ductwork
• Thermostats
• Ventilation
• Estimated replacement costs

The Texas climate makes reliable cooling especially important, so the condition of the cooling system should receive particular attention.

Flooring Throughout the Home

The property has carpet, laminate, and tile flooring.

Different flooring materials can give a home visual variety, but buyers should inspect each surface for wear, water damage, stains, loose areas, cracks, or other defects.

Depending on the condition, flooring updates could be a relatively straightforward way to improve the home’s appearance.

An investor preparing the property for resale or rental may choose durable flooring materials appropriate for each room and the intended use of the property.

Potential Owner-Occupant Property

Although the property is a foreclosure, it could potentially serve as a primary residence after the appropriate repairs.

A three-bedroom, two-bathroom layout can provide practical space for a household, while the one-story design makes the home easy to navigate.

The lot offers enough outdoor area for normal residential use, and the carport provides covered parking.

Before considering the property for occupancy, however, buyers should establish that all essential systems are operational and that the home meets applicable safety and occupancy requirements.

Potential Rental Property

Investors may also consider the property as a potential rental.

Three bedrooms and two bathrooms can be an attractive configuration for certain rental markets. The one-story layout may broaden the potential tenant pool.

However, investors should research local rents, vacancy rates, property management costs, insurance, taxes, maintenance, and comparable rental properties before assuming a particular income level.

The property’s $20,487 asking price could make the acquisition cost relatively low, but the financial model should include any necessary repairs and improvements before estimating returns.

Renovation Potential

The listing describes the home as having character and possibilities rather than explicitly identifying it as a complete teardown or major renovation project.

That means the condition should be established through inspection.

Potential improvements could include:

• Interior painting
• Flooring updates
• Kitchen improvements
• Bathroom improvements
• Exterior repairs
• Siding maintenance
• Roof repairs
• HVAC work
• Electrical updates
• Plumbing repairs
• Landscaping
• Carport improvements
• Energy-efficiency upgrades

The actual scope should be determined only after inspecting the property.

Understanding the Tax Assessment

The property’s listed tax-assessed value is $73,970, while the annual tax amount is approximately $1,149.

The difference between the tax assessment and the asking price is notable, but buyers should not interpret it as proof that the property is worth a particular amount.

Tax assessments are designed for taxation purposes and do not necessarily represent current market value.

A buyer should obtain recent comparable sales and, where appropriate, a professional appraisal to establish a more realistic market value.

Location in Three Rivers

The property is located in Three Rivers, Texas, a community positioned within the South Texas region.

The listing emphasizes access to local parks, dining, shopping, recreation, and outdoor destinations.

For buyers considering the home as a residence, proximity to everyday amenities can be an important consideration.

For investors, the broader local housing market should be studied to understand demand for three-bedroom homes, typical rental rates, vacancy conditions, and the characteristics of nearby properties.

Nearby Parks and Recreation

The listing specifically mentions Hilbert H. Kopplin Memorial Park, Montgomery Park, and Three Rivers City Pool.

These recreational amenities can provide opportunities for outdoor activities and community recreation.

The property is also located near Choke Canyon State Park, which can be appealing to people interested in outdoor activities and recreation.

Access to parks and natural areas can contribute to the lifestyle appeal of a community, particularly for buyers who enjoy spending time outdoors.

Choke Canyon State Park

Choke Canyon State Park is highlighted in the property description as a nearby recreational destination.

The presence of a larger outdoor recreation area can make the surrounding region attractive to buyers who enjoy activities such as fishing, boating, hiking, wildlife observation, and other outdoor pursuits, depending on current park conditions and available facilities.

For a homeowner, proximity to recreational destinations can provide additional weekend and leisure opportunities.

Foreclosure Due Diligence

Buying a foreclosure requires a careful approach.

Before submitting an offer or entering into a purchase contract, buyers should determine the exact sale conditions.

Important questions include:

• Is the property being sold as-is?
• Are inspections allowed?
• Are utilities currently connected?
• Are utilities operational?
• Are there outstanding liens?
• Are property taxes current?
• Are there municipal violations?
• Is the title clear?
• Is title insurance available?
• What repairs are required?
• Are there occupancy restrictions?
• What financing options are available?
• Are there special seller addenda?
• What closing requirements apply?

These questions can be especially important when the property has been vacant or under foreclosure ownership.

Inspection Is Essential

A professional inspection can help determine the property’s actual condition.

Important areas include the foundation, roof, electrical system, plumbing, HVAC, water heater, windows, doors, siding, flooring, kitchen, bathrooms, carport, drainage, and lot.

A general inspection may identify issues that require additional evaluation by specialists.

For example, significant foundation concerns could warrant a structural engineer. HVAC problems may require a licensed technician. Electrical issues may require an electrician.

The cost of inspections is generally small compared with the potential cost of discovering a major defect after closing.

Understanding the $20,487 Price in Context

The low price is certainly attention-grabbing, but buyers should evaluate it in context.

A property can be inexpensive for many reasons, including condition, foreclosure status, location, financing limitations, title considerations, or market circumstances.

The correct question is not simply whether $20,487 is cheap.

The better question is whether the total acquisition and ownership costs make sense relative to the property’s condition and potential value.

That calculation should include the purchase price, closing costs, repairs, insurance, taxes, maintenance, financing, and potential future resale or rental income.

A Potentially Manageable Residential Footprint

One of the positive aspects of the property is its relatively manageable size.

At 1,068 square feet, the home is large enough to provide three bedrooms and two bathrooms while remaining smaller than many larger family residences.

For an investor, a smaller property can sometimes mean lower maintenance and renovation costs than a much larger structure, although actual expenses depend on condition and materials.

For an owner, the one-story design can provide efficient use of space without the maintenance burden of a very large house.

Final Thoughts on This Three Rivers Foreclosure

This Three Rivers, Texas property offers an unusual opportunity for buyers searching for a low-cost single-family residence with three bedrooms, two full bathrooms, and approximately 1,068 square feet.

Listed at $20,487, the property has a relatively low acquisition price and includes several practical features, including a one-story layout, attached carport, mature trees, traditional architecture, wood siding, public utilities, a slab foundation, and a composition roof.

The location also provides access to local parks, shopping, dining, recreation, and nearby outdoor destinations such as Choke Canyon State Park.

At the same time, the foreclosure and REO status make careful due diligence particularly important. Buyers should not assume that the property is ready for immediate occupancy or that the low asking price represents the complete investment required.

The condition of the roof, foundation, HVAC system, plumbing, electrical components, siding, flooring, bathrooms, kitchen, and other systems should be thoroughly evaluated.

The tax-assessed value of $73,970 and annual tax amount of approximately $1,149 provide additional financial context, but they should not be treated as an independent determination of market value.

For an investor, the property could potentially be evaluated as a rental, renovation, or resale opportunity. For an owner-occupant, the three-bedroom and two-bathroom layout provides a practical foundation for a family home if the necessary repairs can be completed.

The one-story design may appeal to buyers seeking easy accessibility between bedrooms and living spaces, while the carport provides covered parking without the maintenance requirements of an enclosed garage.

Ultimately, the property’s value will depend on its actual condition, the terms of the foreclosure sale, the cost of repairs, and the local Three Rivers real estate market.

For buyers who are prepared to investigate the property carefully, obtain professional inspections, verify title and taxes, review the foreclosure terms, and create a realistic renovation and ownership budget, this $20,487 listing could be worth a closer look.

As with any foreclosure purchase, the most important step is understanding exactly what is being purchased before moving forward. A low acquisition price can create an attractive starting point, but the property’s long-term value depends on the complete financial and physical picture.

 

 

Listed on Zillow.