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    Lake Palestine Waterfront Legacy Estate Title is generated by Realmo AI

    1147 Farm to Market 346 N, Bullard, TX 75757

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    Claim this Listing
    For Sale
    $5,500,000

    Traditional, Farm/Ranch - Bullard, TX

    Type:Farm
    Property size:
    3,715 SF
    Lot size:
    72.00 Acres
    Price / SF:
    $1,480/SF
    Added:
    Oct 21, 2025
    Days on Market:
    218
    Last Refresh:
    May 26 at 4:06 pm

    Property Features for 1147 Farm to Market 346 N

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Driveway, Garage, Golf Cart, RV, Workshop
    Patio and Porch features
    Patio, Porch
    Interior features
    Central Vacuum, Eat-in Kitchen, Granite Counters, Kitchen Island, Pantry, Vaulted Ceiling(s), Walk-in Closet(s)
    Exterior features
    Boat Slip, Covered Patio/Porch, Dock, Rain Gutters, Mosquito Mist System, Rv/Boat Parking, Storage, Other, Fence
    Dock
    1
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Gas, Dishwasher, Garbage Disposer, Microwave, Oven - Double, Refrigerator, Washer
    Standard status
    Active
    APN
    000108808900
    Size
    3,715 SF
    Lot size
    72.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Ceiling Fan(s), Central Air, Electric, Multi Units, Zoned
    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Year built
    2019
    Floors in Building
    2
    Flooring type
    Tile, Wood
    Building materials
    Brick, Stone
    Roof type
    Composition
    Architectural style
    New Traditional
    Additional Structures
    RV/Boat Storage, Storage

    We can help!

    Listing Contact
    Donald Stanley
    Donald Stanley

    Listing agent Donald Stanley License #0428650

    Listing office Ebby Halliday Realtors 2104 W. Grande Blvd. #100, Forney, TX

    Listing date Oct 21, 2025

    MLS# 21091803 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.

    HighLights

    • 72‑acre waterfront estate with 1250 feet of Lake Palestine frontage, offering absolute privacy.
    • 3715 sq ft custom residence (built in 2019) featuring 4 bedrooms, 3 bathrooms, office, formal dining, and game room.
    • Over 10,000 sq ft of insulated and HVAC‑equipped shop space.
    • Boathouse (built in 2023) with Trex decking, 2 boat slips (5K and 10K lb lifts), and storage.
    • Chlorine pool and hot tub (added in 2024) with a grotto, diving board, slide, and chiller.
    • Located within the desirable Bullard ISD boundaries.

    Overview

    This 72-acre waterfront estate on Lake Palestine offers over 1250 feet of lake frontage within the Bullard ISD boundaries. The custom residence, built in 2019, spans 3715 square feet and features 4 bedrooms, 3 bathrooms, an office, formal dining area, and game room. Interior details include coffered and vaulted ceilings, abundant natural light, professional-grade appliances, and bespoke craftsmanship. A chlorine pool and hot tub, added in 2024, include a grotto, diving board and slide, along with a chiller. The boathouse, constructed in 2023 with 100% Trex decking, features 2 boat slips with 5K lb and 10K lb lift motors, a secured storage room, an automatic mosquito and bird repellent system, a slide and ladder, and LED lighting. The property includes over 10,000 square feet of insulated and HVAC-equipped shops. Remote-driven shades and Big Ass Fans cool the covered patios. This property is located in Bullard, TX.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Bullard
    County
    Smith
    State
    Texas
    Longitude
    -95.3574
    Latitude
    32.1219

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    FAQs

    What type of property is this?
    Farm - 72-acre waterfront estate with custom residence and high-end amenities.
    Where is this farm located?
    The property is located at 1147 Farm to Market 346 N Bullard, TX.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: 72‑acre waterfront estate with 1250 feet of Lake Palestine frontage, offering absolute privacy.; 3715 sq ft custom residence (built in 2019) featuring 4 bedrooms, 3 bathrooms, office, formal dining, and game room.; Over 10,000 sq ft of insulated and HVAC‑equipped shop space.
    (903) 581-4141
    We can help!
    Listing Contact
    Donald Stanley
    Donald Stanley
    Real Estate License ID: 0428650
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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.

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