- Rockwall County
- Rockwall TX
- 75087
- Local Area: Ladera Rockwall Condos
- Rockwall ISD
- Gated
- Covered Parking
- Covered Patio
Property Overview
INSTANT EQUITY! Recent appraisal done and house is listed $10k below appraised value! Experience elevated living in this beautifully appointed 3-bedroom, 3-bathroom home located within a premier gated 55+ active adult community. Thoughtfully designed with custom features throughout, this two-story residence offers the perfect balance of elegance, comfort, and low-maintenance living. The versatile floor plan includes a dedicated office, ideal for working from home or pursuing personal interests, as well as a second living area that provides additional space for entertaining or enjoying your favorite hobbies. Custom finishes and thoughtful design elements create a warm, refined atmosphere that feels both inviting and sophisticated. Designed for those who want to spend less time maintaining a home and more time enjoying life, this community offers the freedom to travel with confidence. Whether you're heading out for a weekend getaway or an extended vacation, you'll appreciate the peace of mind that comes with gated access and a low-maintenance lifestyle. Enjoy an active, vibrant community while coming home to a residence that reflects quality, comfort, and convenience.
HAVE QUESTIONS ABOUT THIS HOME?
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HAVE QUESTIONS ABOUT THIS HOME?
Text or email Steavy directly from this listing.
Property highlights
Year Built 2022
School District Rockwall ISD
HOA $375 Monthly
Parking 2-car garage, 2 covered
Gated Gated
Architecture Traditional, Detached
Outdoor Living Covered Patio
Fireplace 1 Fireplaces
Neighborhood Ladera Rockwall Condos
Full Property Details
Property Details
PROPERTY HIGHLIGHTS
Quick Details
- Price $649,000
- Status Active
- Bedrooms 3
- Bathrooms 3
- Square Feet 3,125 Sq Ft
- Lot Size 0.23 acres
- Lot Size Sq Ft 10,019
- Year Built 2022
- Price / Sq Ft $208 / Sq Ft
- MLS # 21400301
Overview
- Property Type Residential
- Property Subtype Condominium
- Property Condition Resale
- County Rockwall
- Subdivision Ladera Rockwall Condos
- Days on Market 26
Home Details
- Architectural Style Traditional, Detached
- Stories 2
- Levels Two
- Full Baths 3
- Half Baths 0
- Construction Brick, Rock, Stone
- Flooring Carpet, Tile
- Heating Central
- Cooling Central Air, Ceiling Fans
- Property Attached No
Kitchen & Interior
- Appliances Dishwasher, Disposal, Microwave
- Interior Features Built In Features, Chandelier, Decorative Designer Lighting Fixtures, Eat In Kitchen, High Speed Internet, Kitchen Island, Vaulted Ceilings, Walk In Closets
- Fireplaces 1
- Fireplace Features Living Room
Lot & Exterior
- Lot Features Back Yard, Interior Lot, Lawn, Landscaped, Subdivision
- Exterior Features Private Yard, Rain Gutters
- Patio & Porch Features Covered
- Fencing Metal
- Pool No
Parking
- Parking Driveway, Garage Faces Front, Garage
- Garage Spaces 2
- Covered Parking 2
- Attached Garage Yes
Taxes & HOA
- Annual Taxes $9,726
- HOA Fee $375 Monthly
- HOA Includes All Facilities, Association Management
- Community Features Curbs, Sidewalks
- Parcel Number 000000103043
- Legal Description LADERA AT ROCKWALL CONDOMINIUMS, LOT 30, .008
- Tax Lot 30
Schools
- School District Rockwall ISD
- Elementary Dobbs — Rockwall ISD
- Middle Herman E Utley — Rockwall ISD
- High Rockwall — Rockwall ISD
Listing Information
- Listing Agent Sarah Naylor
- Brokerage Regal, REALTORS
- MLS Board NTREIS
- List Date 10/03/2026
- Source Updated 10/29/2026
- Last Updated 10/30/2026
- Virtual Tour View Virtual Tour (PropertyPanorama)
Property Tax & CAD Valuation for 1632 Madrid Way
Rockwall CAD (TrueProdigy) records for 1632 Madrid Way, Rockwall, TX 75087 show a CAD market value of $716,143 and a net appraised value of $679,087. CAD values are used for property-tax purposes and may differ from the property's current list price or eventual sale price.
TAX INFO FOR NORMAL PEOPLE
A plain-English look at Rockwall CAD (TrueProdigy) property-tax and appraisal records for 1632 Madrid Way, Rockwall, TX 75087, including CAD market value, appraised value, exemptions, taxing entities, improvement records, and value history.
View Official Rockwall CAD (TrueProdigy) Property Record
1. CAD Big Picture: Land + Improvements = Market Value
This shows what the CAD market value is made of. Appraisal districts usually separate value between the land and the improvements. Improvements may include the home, garages, shops, patios, pools, decks, storage, and other structures.
Land Value $124,300 + Improvement Value $591,843 = CAD Market Value $716,143
2. Improvement Details: Size, Type & Assessed Value
This is a breakdown of the improvements CAD has listed for the property and the square footage or area connected to those records. CAD improvement records may include the main living area, garages, shops, decks, patios, pools, storage, or other site improvements when available.
Building
Value: $591,843 Total Area: 3937 Sqft Living Area: 3125 Sqft
| Detail | CAD Code | Area |
|---|---|---|
| MAIN AREA | MA | 2,238 Sqft |
| MAIN AREA | MA | 887 Sqft |
| ATTACHED GARAGE | AG | 502 Sqft |
| COVERED PORCH | CP | 190 Sqft |
| COVERED PORCH | CP | 120 Sqft |
3. Current Tax Exemptions & Statutory Limitations
Property tax bills reflect two distinct types of CAD adjustments: local taxing jurisdiction exemptions (which reduce taxable value below appraised value) and statutory appraisal limitations (which limit the annual growth of appraised value itself). Each taxing entity establishes its own exemption amounts and tax rates.
The current CAD record shows a homestead exemption. Reduces Rockwall ISD taxable value by $140,000 (from $679,087 net appraised value to $539,087 school taxable value). Current owner’s exemption, not guaranteed to transfer to buyer.
Statutory 10% limitation on annual increase in appraised value for qualifying residence homestead (Texas Tax Code § 23.23). This is an appraisal-stage limitation, not a local taxing jurisdiction exemption.
Each taxing jurisdiction may apply its own exemptions, limitations, and taxable-value adjustments. The figures shown reflect the current CAD record. Specific exemption details are displayed when available from the source. A buyer’s exemptions and future tax obligations may differ.
4. Value After CAD Reductions
This is where CAD reductions, exemptions, limitations, or special-use valuation may affect the value used for tax calculations.
CAD Market Value $716,143 − All Current CAD Reductions -$37,056 = Current Taxed Starting Point $679,087
This reflects the CAD net appraised value after current CAD reductions. Individual taxing units may use different taxable values when exemptions apply.
Taxable-value reduction for applicable school district (Rockwall ISD); current owner’s exemption, not guaranteed to transfer to buyer. Other local taxing units on this record apply $0 exemption reduction (taxed at $679,087 net appraised value). Separate from -$37,056 10% homestead cap already reflected in the $679,087 net appraised value.
5. Who Taxes It?
These are the local entities included in the current CAD/tax estimate. A property tax bill can include a city, county, school district, municipal utility district, public improvement district, or other special district. Each entity may use its own taxable value, rate, and exemption treatment.
| Entity | Taxable Value | Rate (per $100) | Est. Tax (No Ex.) | Savings | Est. Tax (Current) |
|---|---|---|---|---|---|
|
City
CITY OF ROCKWALL |
$679,087 | 0.2580 | $1,752 | — | $1,752 |
|
County
ROCKWALL COUNTY |
$679,087 | 0.2620 | $1,779 | — | $1,779 |
|
School District
ROCKWALL ISD |
$539,087 (H) | 1.0669 | $7,245 | -$1,494 | $5,752 |
(H) Taxable reduction reflected in school district taxable value.
Each taxing jurisdiction may apply its own exemptions, limitations, and taxable-value adjustments. The figures shown reflect the current CAD record. Specific exemption details are displayed when available from the source. A buyer's exemptions and future tax obligations may differ.
6. Estimated Tax Bottom Line
Est. Taxes (No Exemptions) $10,776 − Est. Tax Reductions / Savings $1,494 = Est. Taxes (With Current Exemptions) $9,283
The current CAD tax estimate shows exemptions and adjustments reduce the estimated annual taxes by about $1,494. Estimated taxes without exemptions are calculated by applying each jurisdiction's tax rate to its pre-exemption taxable value. Exemption savings represent the difference between this unexempted estimate and the county's current tax estimate. Taxable values and tax rates vary by jurisdiction. Future taxes depend on buyer qualification and future adopted rates.
The current tax estimate reflects a homestead exemption on the property's present CAD record. That exemption does not automatically transfer to a new owner; a buyer must qualify for their own exemptions. For comparison, the current estimate is $9,283 with the exemptions shown today and $10,776 without exemptions. Actual future taxes will depend on buyer eligibility, future appraised values, and adopted tax rates.
7. CAD Values Over Time
YOY Change reflects the change in CAD Market Value from the prior appraisal year. Taxed / Appraised reflects the CAD net appraised value after CAD reductions, or the certified capped appraisal value where jurisdictions differ. Individual taxing units may use different taxable values when exemptions apply.
| Year | Land | Impr. | Market | Taxed / Appraised | YOY Change |
|---|---|---|---|---|---|
| 2021 | $60,936 | — | $60,936 | $60,936 | +$40,536 / +198.71% |
| 2022 | $67,029 | — | $67,029 | $67,029 | +$6,093 / +10.00% |
| 2023 | $97,462 | $229,038 | $326,500 | $326,500 | +$259,471 / +387.10% |
| 2024 | $118,650 | $517,320 | $635,970 | $635,970 | +$309,470 / +94.78% |
| 2025 | $113,000 | $504,352 | $617,352 | $617,352 | -$18,618 / -2.93% |
| 2026 | $124,300 | $591,843 | $716,143 | $679,087 | +$98,791 / +16.00% |
8. List Price vs CAD Value
The current list price and the county’s CAD market value are not the same thing. CAD market value is used for property-tax context and may lag the open market, reflect prior protests, exemptions, caps, agricultural or special-use treatment, or other appraisal district methods.
How does the list price compare with the CAD value?
CAD values are appraisal-district values used for property-tax purposes and can differ from current asking prices and eventual sale prices.
Current List Price $649,000 − Current CAD Market Value $716,143 = Under CAD Value -$67,143 (-9.4%)
A sale price can become part of the appraisal district’s future evidence. A buyer’s future taxable value and tax bill may change after purchase, especially if exemptions, caps, or special-use valuation change.
For tax planning, buyers should confirm future taxable value, exemptions, and special-use treatment with the appraisal district, tax office, lender, CPA, or other qualified advisor.
LIFE AROUND LADERA ROCKWALL CONDOS
A curated look at local favorites, everyday stops, and lifestyle context near this property.