Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Lot in Legacy Point Title is generated by Realmo AI

    229 Foster Cove, Pineland, TX 75968

    View on Map
    Claim this Listing
    For Sale
    $250,000

    Lots - Pineland, TX

    Lot size:
    1.40 Acres
    Added:
    Jun 24, 2025
    Days on Market:
    336
    Last Refresh:
    May 25 at 1:06 pm

    Property Features for 229 Foster Cove

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Luf Rm Residential Md Single Family
    Standard status
    Active
    Lot size
    1.40 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    April Word

    Listing agent April Word

    Listing office Southeast Texas 1st Realty 8745 Eastex Freeway, Beaumont, TX

    Listing date Jun 24, 2025

    MLS# 65105317 Listing URL

    Copyright © 2026 Deep East Texas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront property on Lake Sam Rayburn.
    • New waterfront subdivision: Legacy Point.
    • Deeded lake access easement for all property owners.
    • Lot sizes ranging from 1‑4 acres.
    • Light restrictions offering flexibility in building.
    • Located in Pineland, in the heart of East Texas.

    Overview

    This 1.404-acre waterfront lot is located in Legacy Point, a new waterfront subdivision in Pineland, East Texas, offering the opportunity to build a home or vacation retreat on Lake Sam Rayburn. The property is zoned for single-family residential use. Property owners have access to a deeded lake access easement suitable for launching kayaks, fishing, or enjoying the shoreline. Legacy Point provides the flexibility to create an ideal lake lifestyle while preserving the community's integrity and charm. The subdivision includes waterfront, water-view, and interior lots ranging from 1 to 4 acres, each designed to maximize privacy, natural beauty, and access to the lake. Light restrictions are in place.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Pineland
    County
    Sabine
    State
    Texas
    Longitude
    -93.9683
    Latitude
    31.2142

    Nearby Similar for Sale

    • $55,000
      1,321 SF

      Pineland, TX Commercial Opportunity

      Commercial property in Pineland, TX with redevelopment potential.
      180 E Yaupon St, Pineland, TX 75968
      View Details
    • $379,000

      East Texas Acreage Retreat

      42.24 acres near Toledo Bend and Lake Sam Rayburn.
      9429 FM 83, Pineland, TX 75968
      View Details
    • $875,000

      Lakefront Acreage in Pineland, Texas

      90 acres with 3,000 feet of Lake Sam Rayburn waterfront.
      090 County Divide Road, Pineland, TX 75968
      View Details
    • $300,000

      Waterfront Land in Legacy Point

      Premier waterfront subdivision lot on Lake Sam Rayburn, Pineland, Texas.
      336 Debbie Lane, Pineland, TX 75968
      View Details
    • $300,000

      Waterfront Lot in Legacy Point

      Premier waterfront subdivision lot on Lake Sam Rayburn, East Texas.
      358 Debbie Lane, Pineland, TX 75968
      View Details
    • $300,000

      Waterfront Lot in Legacy Point

      1.878-acre waterfront lot in Legacy Point, Pineland, Texas.
      358 Debbie Lane, Pineland, TX 75968
      View Details
    • $875,000

      Lake Sam Rayburn Waterfront Acreage

      90 acres with 3,000+ feet of Lake Sam Rayburn waterfront.
      PID 28084 County Divide Road, Pineland, TX 75968
      View Details
    • $53,000
      1,300 SF

      Pineland Warehouse Near State Highway

      Commercial property near State Hwy 96 with new roof.
      180 Timberland Hwy, Pineland, TX 75968
      View Details
    • $85,000

      Waterfront Acreage in Legacy Point

      1.01 acre waterfront lot in Legacy Point, Pineland, TX.
      157 Foster Cove, Pineland, TX 75968
      View Details
    • $300,000

      Waterfront Land in Legacy Point

      1.99 acre waterfront lot in Pineland, Texas.
      371 Debbie Lane, Pineland, TX 75968
      View Details
    • $300,000

      Waterfront Land in Legacy Point

      1.99 acre waterfront lot in Legacy Point subdivision.
      336 Debbie Lane, Pineland, TX 75968
      View Details
    • $85,000

      Waterfront Lot in Legacy Point

      Premier waterfront subdivision lot on Lake Sam Rayburn.
      184 Debbie Lane, Pineland, TX 75968
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Premier waterfront lot to build your dream home on Lake
    Where is this residential land & home lot located?
    The property is located at 229 Foster Cove Pineland, TX.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Waterfront property on Lake Sam Rayburn.; New waterfront subdivision: Legacy Point.; Deeded lake access easement for all property owners.
    (713) 419-1353
    We can help!
    Listing Contact
    April Word
    Real Estate License ID: 0498604
    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

    Thank You for Inquiry
    229 Foster Cove, Pineland, TX 75968
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!