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    17983 Acr 404 Palestine, TX 75803

    Sponsored
    For Sale
    $895,000

    Acreage W/Res, Single Family,One Story - Palestine, TX

    Property size:
    1,500 SF
    Lot size:
    41.59 Acres
    Days on Market:
    215
    Last Refresh:
    Feb 13 at 9:06 am

    Property Features for 17983 Acr 404

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Spa
    1
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
    Bedrooms
    2
    Bathrooms
    2
    APN
    0186-1447-0300-0000
    Parking
    2
    Parking features
    Carport, Workshop
    Patio and Porch features
    Porch, Deck
    Interior features
    Washer/Dryer Connection, Hardwood Floors, Ceiling Fans, Jacuzzi, Electric Water Heater, Tankless Water Heater-electric
    Exterior features
    Insulated Windows And Doors, Decks, Storage Building, Front/Back Porch, Fence, Residence(s), Lake(s), Fenced, Cross Fenced, Workshop, Indoor Arena(s), Exterior Lighting, Shade Trees
    Fencing
    Cross Fenced, Fenced
    Appliances
    Dishwasher, Range, Washer
    Size
    1,500 SF
    Lot size
    41.59 Acres

    Utilities

    Utilities
    Electricity Available, Water Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2017
    Floors in Building
    1
    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Arena, Residence, Storage, Workshop

    We can help!

    Listing Contact
    Kay Forester

    K & K Real Estate (903) 681-3794

    Listing agent Kay Forester (903) 681-3794

    Listing date Jul 14, 2025

    MLS# 109015 Listing URL

    Copyright © 2026 Henderson County 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

    Palestine Acreage with Covered Arena

    This unique property, a horse lover's delight, features a 100x200 covered and lighted arena with a 30 ft overhang, tack room, and an attached 1500 sq ft, 2-bedroom, 2-bathroom home. The residence has a split floor plan, metal roof, wood walls, ceilings, and floors, along with a 16' porch. It is equipped with a tankless water heater, 24K generator, and a covered 2-car carport. Additional structures include a pole barn with a workshop and a storage building. A 50x100 shop is present, featuring 3 roll-up doors and a 36” walk-in door. The property spans approximately 41.570 acres, including a 15-acre hay meadow and the remainder wooded, fenced, and cross-fenced. A 5-acre spring-fed lake is located on the premises. The property is accessed via an electric gated entry at the road and is located in Palestine, Texas.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.5987
    Latitude
    31.7706

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    FAQs

    What type of property is this?
    Horse & equestrian property - Unique property with arena, shop, lake, and residence.
    Where is this horse & equestrian property located?
    The property is located at 17983 Acr 404 Palestine, TX.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: - 100x200 covered, lighted arena with 30 ft. overhang and tack room: Ideal for horse enthusiasts.; - 15-acre hay meadow and remainder wooded, fenced and cross fenced.; - 1500 sq. ft. 2BR, 2BA home with metal roof: A move-in ready residence.
    (903) 681-3794
    Request Owner's contact information
    17983 Acr 404 Palestine, TX 75803
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    Palestine, TX 75803
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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
    17983 Acr 404 Palestine, TX 75803
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    We can help!
    Listing Contact
    Kay Forester
    (903) 681-3794 (903) 675-7575
    Learn more
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