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Lakes of La Paloma is a small gated neighborhood of custom estates in Southlake, Texas, 76092, Tarrant County, entered from South Carroll Avenue east of Southlake Boulevard. Homes were built largely between 1998 and 2001, with at least one later build, and run from roughly 5,000 to more than 7,600 square feet on lots from about half an acre to nearly 1.4 acres. Several lots are waterfront or creek-side with lake views. The neighborhood is served by Carroll ISD, and MLS records name the full campus chain: Old Union Elementary, Eubanks Intermediate, Dawson Middle, Carroll High and Carroll Senior High. Nitin Gupta, CRS, GRI, CLHMS, Broker Associate with Competitive Edge Realty, represents buyers and sellers here and across Southlake. Call 469-269-6541 or contact Nitin to start with a conversation.

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The full Carroll ISD campus chain, named in the records

Many Southlake neighborhood pages say only "Carroll ISD." MLS records for homes here list the whole progression: Old Union Elementary, then Eubanks Intermediate, then Dawson Middle School, then Carroll High School for ninth and tenth grade, then Carroll Senior High School for eleventh and twelfth. That five-campus sequence is how Carroll ISD works, and it surprises buyers relocating from districts with a conventional elementary, middle and high school structure. Confirm the current assignment for the exact address with the district before you write an offer, since boundaries shift. Learn more about Carroll ISD schools and compare districts with the DFW school district ratings guide.

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Waterfront lots are a separate market inside a small neighborhood

Listing records show lots with creek frontage, water and lake views, and a 1.377-acre waterfront parcel at the end of a cul-de-sac. Those positions price very differently from interior lots: a 7,673-square-foot remodeled waterfront estate here has been offered at $4,995,000, about $650 per square foot, while interior-lot homes of 5,000 to 5,900 square feet carry estimates closer to $2.0 to $2.6 million, around $355 to $390 per square foot.

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In a neighborhood this small, that means the comparable set has to match lot position first and square footage second. A waterfront sale is not a guide to an interior-lot value, and vice versa. Before committing to a waterfront lot, review drainage and grading along the bank, current floodplain mapping, who maintains the water feature and how that is funded. For a current read on a specific home, use the home value analysis or contact Nitin.

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What homes cost

Recorded closings have run from about $1,175,000 to $2,199,000 with a median near $1,687,000, though those figures reflect earlier sales, and current estimates on the same homes sit well above them. A 5,550-square-foot home sold in 2019 after listing at $1,098,000 and now estimates near $1.98 million; a 7,429-square-foot home sold in 2020 after listing at $1,675,000 and now estimates near $2.63 million. At the top, the waterfront estate has been offered near $5 million. Published summaries describing the neighborhood from "approximately $825,000" are no longer a useful benchmark.

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Taxes are substantial and worth budgeting

Recorded tax figures for homes here include unexempt amounts of about $23,367 and $24,319, and an annual figure near $38,390 on the largest waterfront property. At this level, taxes run roughly $2,000 to $3,200 a month before principal, interest, insurance and HOA. Because taxes are calculated from the appraised value rather than the seller's basis, a purchase can trigger a reassessment and a higher bill than the seller was paying. Confirm the assessed value, exemptions and combined rate for the specific address with the Tarrant Appraisal District.

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The HOA

Listing records show a mandatory association, Lakes of La Paloma HOA, at $450 per quarter, or $1,800 a year, described as covering maintenance of common areas and management. In a small gated neighborhood, that assessment also supports the gate and entry, and a single significant repair to shared infrastructure divides across few owners. Request the current assessment, what it covers, the architectural guidelines, recent budgets and the reserve position before making an offer. Read about the Texas HOA resale certificate and what it discloses.

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What to check on a 1998 to 2001 estate

Homes of this age and size carry multiple HVAC systems, large roof areas and extensive plumbing, so system age and service history carry real weight, and replacement costs at 5,000 to 7,700 square feet are substantial. Add foundation performance, windows, pool and spa equipment, and the age and quality of any renovation, which is where most of the price difference between similar homes comes from. On half-acre to acre-plus lots with mature trees, check irrigation coverage, drainage and grading and tree health near the structure. The seller's disclosure covers only what the seller knows, so the inspection period is where the real information comes from. Learn about the Texas option period.

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Watch out for search result contamination

Portal searches for "Lakes of La Paloma" routinely return homes from across Southlake at wildly different price points, including properties on unrelated streets. Before using any listing or sale as a comparable, confirm the subdivision field reads Lakes of La Paloma Addition and the address is on La Paloma Court. In a neighborhood with only a handful of homes, one wrong comparable can move a valuation by a million dollars.

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Location

The gated entry sits on South Carroll Avenue, a short drive from Southlake Town Square for shopping and dining, with SH 114 and Southlake Boulevard carrying most traffic and the entrance to DFW International Airport nearby. Grapevine, Colleyville, Westlake and Keller are all close. Drive your own commute at the hours you would travel before committing.

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Comparing Lakes of La Paloma with other Southlake neighborhoods

Among gated Southlake options, The Enclave offers about ten estates on acre lots at a comparable or higher price. Clariden Ranch offers acre-plus lots with a different school enrollment picture, and Kirkwood Hollow and Estes Park offer full amenity packages on half-acre lots. Coventry Manor and Cambridge Place are the non-gated alternatives at similar sizes. What sets Lakes of La Paloma apart is the combination of a gate, water frontage and very few homes. See the DFW communities directory.

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Selling a home in Lakes of La Paloma

With few homes and infrequent sales, your home will often be the only one available, and buyers will compare it against gated and waterfront options across Southlake. Pricing has to respect lot position, since waterfront and interior homes are separate markets, and marketing should make the water frontage and the gated entry explicit where they apply. Buyers will also ask about the HOA assessment and the tax picture, so have both documented before going live. See the seller marketing plan and seller services.

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Lakes of La Paloma FAQs

Is Lakes of La Paloma gated?

Yes. The neighborhood has a gated entry from South Carroll Avenue, east of Southlake Boulevard, with homes on La Paloma Court.

What schools serve Lakes of La Paloma?

Carroll ISD. MLS records name Old Union Elementary, Eubanks Intermediate, Dawson Middle, Carroll High for ninth and tenth grade and Carroll Senior High for eleventh and twelfth. Confirm the current assignment for the exact address with the district.

How big are the homes and lots?

Homes run from roughly 5,000 to more than 7,600 square feet, built largely between 1998 and 2001, on lots from about half an acre to nearly 1.4 acres, several with creek frontage or lake views.

What do homes cost in Lakes of La Paloma?

Interior-lot homes of 5,000 to 5,900 square feet carry current estimates near $2.0 to $2.6 million, while a remodeled 7,673-square-foot waterfront estate has been offered at $4,995,000. Older summaries starting near $825,000 are out of date.

What are the HOA dues?

Listing records show a mandatory association at $450 per quarter, or $1,800 a year, covering maintenance of common areas and management. Confirm the current amount, what it covers, and the reserve position.

What are property taxes like here?

Recorded figures include unexempt taxes of about $23,367 and $24,319, and roughly $38,390 annually on the largest waterfront home. Because taxes follow the appraised value, a purchase can trigger a reassessment above what the seller paid.

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Work With Nitin Gupta in Southlake

Nitin Gupta is a Broker Associate with Competitive Edge Realty with 480+ closed DFW transactions, 13 professional designations including CRS, GRI, CLHMS and ALHS, and D Magazine Best REALTOR® recognition in 2020, 2023 and 2024. He serves clients in English, Hindi, Punjabi, Urdu and Gujarati. Read client reviews, watch home tours on his YouTube channel, or call 469-269-6541.

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If Lakes of La Paloma is on your list, tell Nitin your target move date, whether you want a waterfront or interior lot, the square footage you need and your price range, and he will tell you what actually trades here and which gated Southlake options belong on the same tour.

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Updated September 2026.