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    1366 Hcr 1414 Covington, TX 76636

    View on Map
    Sponsored
    For Sale
    $744,900

    Farm/Ranch - Covington, TX

    Type:Farm
    Property size:
    1,916 SF
    Lot size:
    17.90 Acres
    Days on Market:
    10
    Last Refresh:
    Mar 6 at 11:06 pm

    Property Features for 1366 Hcr 1414

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    376779
    Parking features
    Carport
    Patio and Porch features
    Patio, Porch
    Interior features
    Granite Counters, High Speed Internet Available, Vaulted Ceiling(s)
    Exterior features
    Covered Patio/Porch, Stable/Barn, Storage
    Fireplace
    1
    Appliances
    Dishwasher, Microwave, Range, Washer
    Size
    1,916 SF
    Lot size
    17.90 Acres

    Utilities

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

    Building Details

    Year built
    2007
    Floors in Building
    1
    Flooring type
    Laminate, Tile, Tile - Ceramic
    Roof type
    Composition
    Architectural style
    Ranch
    Additional Structures
    Barn(s), Stable(s), Storage

    We can help!

    Listing Contact
    Hope Kirkpatrick

    Webb Kirkpatrick Realtors (817) 774-2487

    Listing agent Hope Kirkpatrick (817) 774-2487

    Listing date Feb 25, 2026

    MLS# 21153718 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

    Covington Farm and Ranch Paradise

    This 17.9-acre property is suited for livestock and country living. The custom-built home features a spacious living room with vaulted ceilings, fresh paint, exposed wood beams, wood accent walls, abundant natural light, and a rock fireplace. The living room flows into the dining and kitchen area, which includes ample cabinetry, granite countertops, a walk-in pantry, and a window overlooking the property. The dining area features a large picture window overlooking open spaces. The primary bedroom includes an ensuite bathroom with a soaking tub and walk-in shower. The guest bedrooms are generously sized with closet space. A walk-up attic provides storage or the opportunity to finish it into a bonus room. The home features spray foam insulation. Outside, there is a 30x30 shop, a 34x48 barn with four stalls, and a 10x16 shed with electricity. There are 2 peach trees. The cross-fenced pastures, tank, and loafing shed make this property suited for livestock. The property is located in Covington, TX.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    HVAC Service Travel Agency Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Hill
    State
    Texas
    Longitude
    -97.302156
    Latitude
    32.168211

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    FAQs

    What type of property is this?
    Horse & equestrian property - 17.9-acre farm/ranch with custom home, barn, and pastures.
    Where is this horse & equestrian property located?
    The property is located at 1366 Hcr 1414 Covington, TX.
    What is the asking price?
    The asking price for this property is $744,900.
    What are key features of this property?
    This property features: - 17.9-acre property ideal for livestock with cross-fenced pastures, tank, 34x48 barn (4 stalls), and loafing shed.; - 30x30 shop and 10x16 shed with electricity offer ample workspace and storage.; - Custom-built home with spacious living room, vaulted ceilings, rock fireplace, and abundant natural light.
    (817) 774-2487
    Request Owner's contact information
    1366 Hcr 1414 Covington, TX 76636
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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
    1366 Hcr 1414 Covington, TX 76636
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    We can help!
    Listing Contact
    Hope Kirkpatrick
    (817) 774-2487 (817) 240-6947
    Learn more
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