Riverfront Land with
For Sale
$539,000
1161 River View Road, Millsap, TX 76066
Land, Millsap, TX
Property Size2,000 SF
Lot Size2.00 Acres
Price / SF$269.50
Days on Market64
Property Features for 1161 River View Road
General Information
Property type
Land
Property subtype
Other
Zoning description
Residential
Parking features
Boat, RV
Exterior features
Awnings, OutdoorLivingArea, RvHookup, Storage
Subdivision
Mountain River Estates #2
Lot features
Acreage, Cleared, Retaining Wall
View
Water
Elementary school
Millsap
Middle school
Millsap
High school
Millsap
Elementary school district
Millsap ISD
Middle school district
Millsap ISD
High school district
Millsap ISD
Directions
GPS Friendly
Standard status
Active
APN
20760
Lot size
2.00 Acres
Taxes and HOA fees
Tax Description
1.001 MOUNTAIN RIVER EST #2 BLK 2 LOT 268
Legal Description
1.001 MOUNTAIN RIVER EST #2 BLK 2 LOT 268
Utilities
Water front features
River Front, Beach Access
Water front
1
Building Details
Year built
2018
Architectural style
Other
Additional Structures
Storage, Shed(s)
Listing Agency:
Mountain Creek Real Estate,LLC
Listed By:
Bari Mcglothlin
(817) 992-0921
Added: Jul 17
Changed: Sep 16
Last Checked: Sep 18 at 1:06PM
MLS# 21302170
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.
Investment Insights
Based on property information with market context.
Riverfront land in a gated community along the Brazos River, offering three lots totaling approximately 2 acres. The property includes mature pecan trees and a private boat ramp designed for kayaks or small vessels, plus a private beach. There is also a barndo on-site with a bunk room, garage, and a bathroom with a shower, along with washer and dryer hookups.
Outdoor features include a covered area for recreational vehicles, a large covered patio with ceiling fans, and a small fenced area for pets with a shed for storage. Two included RVs are listed on the property: a 45 ft Lesabre 5th wheel and a 30 ft 5th wheel. Located in Millsap, TX at 1161 River View Road (Palo Pinto County), the setting is tailored to personal enjoyment and flexible use as a rental property.
Outdoor features include a covered area for recreational vehicles, a large covered patio with ceiling fans, and a small fenced area for pets with a shed for storage. Two included RVs are listed on the property: a 45 ft Lesabre 5th wheel and a 30 ft 5th wheel. Located in Millsap, TX at 1161 River View Road (Palo Pinto County), the setting is tailored to personal enjoyment and flexible use as a rental property.
Key Highlights
- Gated community property on the Brazos River with private boat ramp and beach access
- 2‑acre property with mature pecan trees, plus a small fenced pet area
- 2018‑built 2,000 SF barndo with bunk room, garage, and a bathroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,412
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$608,240
$608.2K
Cap Rate 7%
$434,457
$434.5K
Cap Rate 9%
$337,911
$337.9K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.9K $30.96/SF
− Vacancy
−$6.6K −$3.31/SF
EGI
$55.3K $27.65/SF
− OpEx
−$24.9K −$12.44/SF
NOI
$30.4K $15.21/SF
Area
Parker County, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$608,240
Cap Rate 7%
$434,457
Cap Rate 9%
$337,911
Alternative Uses
Best Use
Apartment 5plus
$434.5K
$380.2K – $506.9K
NOI $30,412 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,113 @ 7.0% cap · market cap 25.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 76066, TX
3,816
Population
1,977
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
87%
High-School Grad
88.0 sq mi
ZIP Area
43
Density / Sq Mi
$102,931
Median Household Income
$55,859
Median Earnings
$834
Median Rent
$246,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Waterfront Land - Gated riverfront property with a barndo, private boat ramp, and beach along the Brazos River.
Where is this waterfront land located?
The property is located at 1161 River View Road Millsap, TX.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Gated community property on the Brazos River with private boat ramp and beach access; 2‑acre property with mature pecan trees, plus a small fenced pet area; 2018‑built 2,000 SF barndo with bunk room, garage, and a bathroom with shower
