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    2035 Fm 103 Nocona, TX 76255

    View on Map
    Sponsored
    For Sale
    $2,500,000

    Farm/Ranch - Nocona, TX

    Type:Farm
    Property size:
    2,104 SF
    Lot size:
    165.70 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 14 at 1:06 pm

    Property Features for 2035 Fm 103

    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
    R000010827
    Parking features
    Covered, Driveway, Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Granite Counters, High Speed Internet Available, Kitchen Island, Pantry
    Exterior features
    Covered Patio/Porch, Rain Gutters, Stable/Barn
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Ice Maker, Microwave, Range, Range - Gas, Refrigerator, Refrigerator - Built-in, Washer
    Size
    2,104 SF
    Lot size
    165.70 Acres

    Utilities

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

    Building Details

    Year built
    1948
    Floors in Building
    1.5
    Flooring type
    Marble, Wood
    Building materials
    Stone
    Roof type
    Metal
    Architectural style
    Ranch
    Additional Structures
    Barn(s), Stable(s)

    We can help!

    Listing Contact
    Rani Buchanan

    FADAL BUCHANAN & ASSOCIATES LLC (817) 750-0012

    Listing agent Rani Buchanan (817) 750-0012 License #0456295

    Listing date Mar 13, 2026

    MLS# 21207919 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

    165-Acre Ranch in Montague County

    This 165-acre ranch in Montague County, North Texas, features rolling terrain with mature trees and numerous pecan trees. The property is suitable for hunting, recreation, or agricultural operations, providing excellent wildlife habitat and open areas for grazing or farming. Water sources include three ponds and natural springs. Improvements include two homes, offering flexibility for a primary residence, guest quarters, or rental potential. A barn provides space for equipment and storage. Each home has a generator. The main house has been completely remodeled. The property is located approximately 1.5 hours from DFW. The property size is 2104 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.61913733
    Latitude
    33.92694855

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    FAQs

    What type of property is this?
    Ranch - Stunning North Texas ranch with diverse terrain and improvements.
    Where is this ranch located?
    The property is located at 2035 Fm 103 Nocona, TX.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - 165-acre ranch in Montague County, offering privacy and diverse terrain suitable for hunting, recreation, or agriculture.; - Two homes on the property provide flexibility; **main house is completely remodeled.**; - Three ponds and natural springs provide water sources for livestock and wildlife.
    (817) 750-0012
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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
    2035 Fm 103 Nocona, TX 76255
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    We can help!
    Listing Contact
    Rani Buchanan
    Real Estate License ID: 0456295
    (817) 750-0012
    Learn more
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