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    The Largest CRE Database in the US with Over 1 Million Listings

    000 County Road 392 Stephenville, TX 76401

    Sponsored
    For Sale
    $4,820,000

    Multiple Single Units - Stephenville, TX

    Property size:
    20,000 SF
    Lot size:
    93.50 Acres
    Days on Market:
    150
    Last Refresh:
    Jan 24 at 12:06 pm

    Property Features for 000 County Road 392

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    R000074890
    Parking
    30
    Exterior features
    Fence
    Fencing
    Fenced
    Size
    20,000 SF
    Lot size
    93.50 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Building materials
    See Remarks, Stone, Stone Veneer
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Kasey Mock

    Keller Williams Heritage West (254) 335-0500

    Listing agent Kasey Mock (254) 335-0500 License #0636589

    Listing date Aug 28, 2025

    MLS# 20955350 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Income-Producing Ranch with Rental Units

    This income-producing property, available for the first time, fronts paved county road 392, with additional frontage on CR 383, south of Lingleville, west of Stephenville, and north of Dublin. It features a 3,200 square foot custom home, an 1,800 square foot guest house, and 11 rental units with an established seven-figure rental income and full occupancy. The rentals consist of five double-wide units, four single-wide units, and a set of duplexes. Equestrian facilities include over 20 horse stalls and loafing sheds, 19 turnouts, and a lighted arena. The ranch is equipped with cattle working pens, a 60x100 foot hay barn, an equipment barn, and a workshop with a hydraulic lift. Multiple ponds are located on the property, along with a swimming area that includes a slide, rope swing, and zip line. A private 1,500-foot airstrip provides convenient access. The property spans 93.5 acres. The sellers would consider selling just the rental houses and 17 acres. The property is located in Stephenville, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Wholesale Shop Auto Repair Shop Storage Facility Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.35294856
    Latitude
    32.21558389

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    FAQs

    What type of property is this?
    Ranch - Ranch featuring a custom home, guest house, and multiple rental units.
    Where is this ranch located?
    The property is located at 000 County Road 392 Stephenville, TX.
    What is the asking price?
    The asking price for this property is $4,820,000.
    What are key features of this property?
    This property features: - Established seven-figure rental income with full occupancy from 11 rental units.; - Enjoy a **3,200 sqft custom home and 1,800 sqft guest house**.; - Features a **private 1,500 ft. airstrip**.
    (254) 335-0500
    Request Owner's contact information
    000 County Road 392 Stephenville, TX 76401
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    Stephenville, TX 76401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    000 County Road 392 Stephenville, TX 76401
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    We can help!
    Listing Contact
    Kasey Mock
    Real Estate License ID: 0636589
    (254) 335-0500
    Learn more
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