Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1588 County Road 118 Carlton, TX 76436

    View on Map
    For Sale
    $473,643

    Ranch - Carlton, TX

    Type:Ranch
    Lot size:
    64.45 Acres
    Added:
    Oct 29, 2025
    Days on Market:
    154
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 1588 County Road 118

    General Information

    Property type
    Land
    Property subtype
    Ranch
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    R21077
    Lot size
    64.45 Acres

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Matt Milligan
    Matt Milligan

    Listing agent Matt Milligan License #0500456

    Listing office Trinity Country Real Estate 208 N. Main #100, Weatherford, TX

    Listing date Oct 29, 2025

    MLS# 21099329 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.

    Overview

    Carlton Ranch Land For Sale

    This 64+- acre tract, located in northwest Hamilton County, is fenced with 5-strand barbed wire. Currently used for a small cattle operation and recreational activities, the land is fairly level with a bit of roll to the north. The southern portion of the property is open, becoming thicker with vegetation as you move north. The land features a mixture of mesquite and cedar trees, with mostly native grasses. A stock pond is situated on the eastern fence line. This property presents opportunities for hunting, recreation, single-family use, or a small livestock operation. The property is located at 1588 County Road 118, Carlton, TX 76436.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Carlton
    County
    Hamilton
    State
    Texas
    Longitude
    -98.1627142
    Latitude
    31.8993186

    Nearby Similar for Sale

    • $619,650

      Versatile 80 Acre Land Tract

      80 acre tract with barns, well, and stock tank.
      531 FM 1744, Carlton, TX 76436
      View Details
    • $65,500

      Carlton, TX Ag Exempt Land

      9 acres of ag exempt land near Hico and Stephenville.
      Lot 13 CR 127, Carlton, TX 76436
      View Details
    • $99,000

      Carlton, TX 10-Acre Corner Lot

      10-acre corner lot in Carlton, TX, with Ag Exempt taxes.
      Lot 25 County Road 127, Carlton, TX 76436
      View Details
    • $104,000

      10 Acres in Comanche Point

      10 acre parcel with views and county road access.
      1314 CR 127, Carlton, TX 76456
      View Details
    • $650,000

      Unrestricted Land in Comanche County

      100-acre unrestricted land with ag exemption, pond, creek, and wildlife.
      Tbd CR 386, Carlton, TX 76436
      View Details
    • $645,839

      Unrestricted Land with Mature Trees

      80.74 acres of unrestricted land in Carlton, TX.
      Tbd CR 137, Carlton, TX 76436
      View Details
    • $289,000

      20.42 Acres in Comanche Point Ranch

      20.42 acre tract with creek, trees, and building sites.
      Tbd PR 1272, Carlton, TX 76436
      View Details
    • $1,105,000

      Unrestricted 170-Acre Land in Comanche County

      170-acre unrestricted land with ag exemption, pond, creek, and wildlife.
      170+/- Ac Tbd County Road 386, Carlton, TX 76436
      View Details
    • $1,709,603

      199-Acre Ranch Land with Water

      Well-managed ranch land ideal for livestock and wildlife.
      Tbd County Road 382, Carlton, TX 76436
      View Details
    • $3,260,000

      400 Acres of Versatile Land

      Unique 400-acre property with diverse terrain and potential.
      Tbd CR 382, Carlton, TX 76436
      View Details
    • $5,495,000

      Expansive 723-Acre Working Ranch

      723-acre ranch with rolling terrain, diverse vegetation, and water features.
      Tbd County Road 386, Carlton, TX 76436
      View Details
    • $99,000

      Texas Hill Country Land Parcel

      10-acre Hamilton County land with Ag exemption and utilities.
      Na CR 127, Carlton, TX 76436
      View Details

    FAQs

    What type of property is this?
    Ranch - 64-acre ranch land suitable for cattle, recreation, and hunting.
    Where is this ranch located?
    The property is located at 1588 County Road 118 Carlton, TX.
    What is the asking price?
    The asking price for this property is $473,643.
    What are key features of this property?
    This property features: 64+- acre fenced tract suitable for cattle operation, recreation, or single‑family use.; Ideal for hunting and other recreational activities.; Includes a stock pond on the eastern fence line.
    (817) 594-8183
    We can help!
    Listing Contact
    Matt Milligan
    Matt Milligan
    Real Estate License ID: 0500456
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!