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

    1338 County Road 2998 Evant, TX 76525

    Sponsored
    For Sale
    Under Contract
    $510,000

    Traditional, Farm/Ranch - Evant, TX

    Type:Farm
    Property size:
    2,280 SF
    Lot size:
    27.36 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 24 at 1:06 am

    Property Features for 1338 County Road 2998

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active Under Contract
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    3
    APN
    152739
    Parking features
    Carport
    Interior features
    Double Vanity, High Speed Internet Available, Kitchen Island, Open Floorplan, Pantry, Walk-in Closet(s)
    Exterior features
    Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Electric, Dishwasher, Dryer, Microwave, Refrigerator, Washer
    Size
    2,280 SF
    Lot size
    27.36 Acres

    Utilities

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

    Building Details

    Year built
    2018
    Floors in Building
    1
    Flooring type
    Carpet, Laminate
    Building materials
    Fiber Cement
    Roof type
    Composition
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Calvin Burks
    Calvin Burks

    Burks Real Estate (254) 865-3601

    Listing agent Calvin Burks (254) 865-3601

    Listing date Jan 20, 2026

    MLS# 20983290 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

    Evant Farm/Ranch with Two Homes

    This 27.358-acre property, located south of Evant in Lampasas County, offers privacy and views with a 140 ft elevation change and tree cover. The main residence, built in 2017, is a 2,280 sq. ft. manufactured home featuring 3 bedrooms, 3 bathrooms, 2 living areas, 2 offices, and an open floor plan. A large front porch provides views of the surrounding area. The second home is a 2-bedroom, 1.5-bathroom rock house that requires updating. Property improvements include a 30' x 30' metal workshop, two additional buildings with carports used for storage, and a barn. The property has two water wells, one 390 ft deep well drilled in 2009 and a shallow well that has not been used recently. Utilities include Hamilton County Electric and fiber optic internet service. Located in Evant ISD, the property is approximately 30 minutes from Hamilton, Gatesville, Lampasas, and Goldthwaite, and about an hour to Waco, Temple, Killeen, Brownwood, and Stephenville. Austin is approximately 1.5 hours away. The property is suitable for full-time living, multigenerational use, or a weekend escape.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Evant
    County
    Coryell
    State
    Texas
    Longitude
    -98.18879137
    Latitude
    31.44474716

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    FAQs

    What type of property is this?
    Farm - 27.358-acre property featuring two homes, workshop, and scenic views.
    Where is this farm located?
    The property is located at 1338 County Road 2998 Evant, TX.
    What is the asking price?
    The asking price for this property is $510,000.
    What are key features of this property?
    This property features: - 27.358 Acres with Big Texas Views and Privacy; - Two Homes: 2,280 sq. ft. Main Home (3 bed, 3 bath) and a Second Rock House with Rental/Guest Potential; - 30' x 30' Metal Workshop and Additional Storage Buildings
    (254) 865-3601
    Request Owner's contact information
    1338 County Road 2998 Evant, TX 76525
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    Evant, TX 76525
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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
    1338 County Road 2998 Evant, TX 76525
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    We can help!
    Listing Contact
    Calvin Burks
    Calvin Burks
    Real Estate License ID: 0268721
    (254) 865-3601
    Learn more
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