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    1273 Alternate Sheridan, TX 77475

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    Sponsored
    For Sale
    $429,000

    Residential (farm-ranch),Farm,Standard Frame - Sheridan, TX

    Type:Farm
    Property size:
    2,961 SF
    Lot size:
    3.46 Acres
    Days on Market:
    57
    Last Refresh:
    Mar 10 at 8:06 am

    Property Features for 1273 Alternate

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Vegetation
    Partially Wooded, Wooded
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    32114
    Parking features
    Carport, Garage
    Exterior features
    Partially Wooded, Well
    Fireplace
    1
    Size
    2,961 SF
    Lot size
    3.46 Acres

    Utilities

    Heating system
    Central, Fireplace(s)

    Building Details

    Year built
    1975
    Year renovated
    1975
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Gary Helmcamp

    Tri-County Realty, LLC (979) 725-6006

    Listing agent Gary Helmcamp (979) 725-6006 License #461405

    Listing date Jan 12, 2026

    MLS# 154656 Listing URL

    Copyright © 2026 South Central Texas Board of Realtors. 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

    Overview

    Spacious Country Home Near Sheridan

    Located approximately 1.5 miles west of Sheridan, TX, this property offers country living on approximately 3.461 acres. The brick home features four bedrooms and three bathrooms within approximately 2,961 square feet of living space. The floor plan includes a living area, den, a spacious kitchen with abundant cabinetry, and a dining area. A flex room could serve as a fifth bedroom or other functional space. Recent updates include granite countertops, partial flooring, and updated appliances; the refrigerator conveys with the home. Exterior features include a detached two-car garage (approximately 20 feet by 22 feet), a carport for up to three vehicles (approximately 30 feet by 26 feet), and an RV port (approximately 45 feet by 24 feet) with a 30-amp hookup and nearby water access. A storage shed and greenhouse are also present. The property is enhanced by live oak trees and landscaping. Ample parking, storage, and workspace options are available.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Map

    City
    Sheridan
    County
    Colorado
    State
    Texas
    Longitude
    -96.685013
    Latitude
    29.491109

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    FAQs

    What type of property is this?
    Specialty property - 4-bedroom home on 3.46 acres near Splashway Water Park.
    Where is this specialty property located?
    The property is located at 1273 Alternate Sheridan, TX.
    What is the asking price?
    The asking price for this property is $429,000.
    What are key features of this property?
    This property features: - Spacious 4-bedroom (possible 5-bedroom) home with 3 baths and approximately 2,961 SF on 3.461 acres.; - Extensive parking and storage: **Detached two-car garage, 3-vehicle carport, RV port with hookup**, storage shed, and greenhouse.; - Potential VA loan assumption at 3% interest (subject to lender approval).
    (979) 725-6006
    Request Owner's contact information
    1273 Alternate Sheridan, TX 77475
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    Sheridan, TX 77475
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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
    1273 Alternate Sheridan, TX 77475
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    We can help!
    Listing Contact
    Gary Helmcamp
    Real Estate License ID: 461405
    (979) 725-6006
    Learn more
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