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    1003 Ovilla Rd Red Oak, TX 75154

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    Sponsored
    Picture of Horse & equestrian properties at Ovilla Rd 1003, Red Oak, TX
    For Sale
    $1,499,000

    Ranch,Traditional, Farm/Ranch - Red Oak, TX

    Type:Farm
    Property size:
    2,800 SF
    Lot size:
    25.03 Acres
    Days on Market:
    5
    Last Refresh:
    Mar 17 at 9:06 pm

    Property Features for 1003 Ovilla Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    3
    APN
    236921
    Parking features
    Carport, Driveway, Garage, Oversized, RV
    Interior features
    Double Vanity, Eat-in Kitchen, High Speed Internet Available, In-law Suite Floorplan, Walk-in Closet(s)
    Exterior features
    Private Entrance, Rv Hookup, Rv/Boat Parking, Stable/Barn, Storage, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Gas, Dishwasher, Garbage Disposer, Microwave, Oven - Gas, Washer
    Size
    2,800 SF
    Lot size
    25.03 Acres

    Utilities

    Heating system
    Central, Fireplace(s), Propane (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2010
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Tile - Ceramic, Wood
    Building materials
    Brick, Frame, Stone
    Roof type
    Composition
    Architectural style
    New Traditional
    Additional Structures
    Barn(s), RV/Boat Storage, Stable(s), Storage

    We can help!

    Listing Contact
    Nancy Bennett

    Ginger and Associates (817) 637-9184

    Listing agent Nancy Bennett (888) 455-6040 License #0624410

    Listing date Mar 13, 2026

    MLS# 21207021 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

    Red Oak Ranch with Barn

    Located in Ellis County, outside city limits and approximately 20 minutes from downtown Dallas, this well-maintained property benefits from an existing agricultural exemption. The main home features ceramic tile in the kitchen, bathrooms, and living room, along with an open floor plan, ample storage, and a covered, screened patio with a wood-burning fireplace. An in-law suite includes private parking, a covered front porch, a living room, two bedrooms with refinished hardwood floors, an eat-in kitchen, and a bathroom with a shower. The 6000 square foot barn contains a guest suite with a living room, kitchen, bedroom, and bath. The barn also features a half bath, high ceilings with three roll-up doors, a workshop, a bonus room, an air-conditioned tack room, a secure equipment area, covered hay storage, a concrete floor, and a covered area with hot water. A wide gravel driveway extends around the barn, providing parking and maneuverability for large vehicles. With frontage on Ovilla Road and set 200 feet back from the road, this 25.03-acre property offers business or income potential as well as equestrian uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Oak
    County
    Ellis
    State
    Texas
    Longitude
    -96.74259
    Latitude
    32.528469

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    FAQs

    What type of property is this?
    Horse & equestrian property - Well-maintained ranch with multiple residences and large barn.
    Where is this horse & equestrian property located?
    The property is located at 1003 Ovilla Rd Red Oak, TX.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: - Income potential and equestrian uses on property with Ovilla Rd frontage, set 200 ft back from road.; - **6000 sq ft Barn with guest suite** (living room, kitchen, bedroom, bath), half bath, 3 roll-up doors, workshop, bonus room, air-conditioned tack room, secure equipment area, covered hay storage, concrete floor, and covered area with hot water.; - In-law suite with private parking, covered porch, living room, 2 bedrooms with refinished hardwood floors, eat-in kitchen, and bath with shower.
    (888) 455-6040
    Request Owner's contact information
    1003 Ovilla Rd Red Oak, TX 75154
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    Red Oak, TX 75154
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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
    1003 Ovilla Rd Red Oak, TX 75154
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    We can help!
    Listing Contact
    Nancy Bennett
    Real Estate License ID: 0624410
    (888) 455-6040
    Learn more
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