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    159 Co Rd 4360 Munday, TX 76371

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    Sponsored
    For Sale
    $320,000

    Unimproved Land - Munday, TX

    Type:Unimproved Land
    Lot size:
    159.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 13 at 2:06 am

    Property Features for 159 Co Rd 4360

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    3348
    Lot size
    159.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Travis Hawkins
    Travis Hawkins

    ABTX-RE, LLC (325) 692-4488

    Listing agent J. Travis Hawkins (325) 692-4488 License #0643904

    Listing date Mar 12, 2026

    MLS# 21205769 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

    Overview

    Productive Farmland in Knox County

    Located between Rhineland and Munday, Texas, the 159-acre Watson farm in Knox County has been actively farmed by the same tenant for over 40 years. The land is mostly flat, with a slight elevation drop from west to east. The soil profile is predominantly Miles sandy loam, with approximately 55 acres of Rotan Clay loam on the east side. The property once had a residence, moved to town in the 1950s, with remnants of the old foundation and an older shed remaining. There are three water wells on the land; one is used for livestock water. Two irrigation wells produce a combined 75 to 90 gallons per minute, according to the tenant. Single-phase power is available around the farm on the west, south, and north sides. Historically, the farm has been in a cotton, wheat, and haygrazer rotation, with tenants growing roughly 20 acres of irrigated cotton during the summertime and occasionally planting 50-75 acres of dry-land cotton. The sellers are offering all surface minerals, including wind, water, and solar, with an acceptable offer, but are not conveying any oil and gas minerals. A small transmission line runs through the west side of the farm from north to south. Currently, the farm is leased and planted in winter wheat.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Munday
    County
    Knox
    State
    Texas
    Longitude
    -99.60046189
    Latitude
    33.50454157

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 159-acre farm between Rhineland and Munday, Texas.
    Where is this agricultural land / farmland located?
    The property is located at 159 Co Rd 4360 Munday, TX.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: - Productive farm land with established tenant farmer in place, providing immediate income potential.; - Surface minerals including wind, water, and solar rights are included with an acceptable offer.; - Two irrigation wells with a combined output of approximately 75-90 gpm.
    (325) 692-4488
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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
    159 Co Rd 4360 Munday, TX 76371
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    We can help!
    Listing Contact
    Travis Hawkins
    Travis Hawkins
    Real Estate License ID: 0643904
    (325) 692-4488 (325) 370-3710
    Learn more
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