20531 S Farm-Market 4, Lipan, TX 76462

This multi-unit live-work property is set on 3.44 well-maintained acres and includes multiple income-capable structures. The primary residence offers approximately 1,991 square feet with two bedrooms, two bathrooms, a spacious living area, a utility room, and a large game room, plus a covered carport and patio. A second residence totals approximately 840 square feet and features two bedrooms, one bathroom, a full kitchen, living room, utility room, outdoor shower, and covered porches. An additional 144-square-foot cottage provides flexible space that may be used as a guest suite, office, studio, or additional short-term rental. Supporting the setup is a 30-by-40 foam-insulated shop with a 20-by-15 office and bathroom, suitable for workshop, storage, or commercial service use.

Located just outside city limits in the Santo area, the property offers a rural setting while remaining within convenient reach of Stephenville, Granbury, Mineral Wells, and Gordon. Utilities include co-op water servicing one residence and a private water well servicing the second residence, offering operational flexibility for mixed-use occupancy.

With multiple separate dwelling options and dedicated shop space, the property can fit investors seeking several revenue streams, entrepreneurs looking to operate from an on-site facility, or buyers interested in a combined live-and-work arrangement. Its mix of residential, guest-style flexibility, and purpose-built workspace supports a range of long-term rental and short-term lodging strategies.