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    New Hope Ranch with Acreage Title is generated by Realmo AI

    241 Highridge Drive New, Hope, TX 75071

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    Claim this Listing
    New
    For Sale
    $1,100,000

    Ranch,Traditional, Farm/Ranch - New Hope, TX

    Type:Farm
    Property size:
    2,592 SF
    Lot size:
    10.00 Acres
    Price / SF:
    $424/SF
    Added:
    May 22, 2026
    Days on Market:
    2
    Last Refresh:
    May 23 at 1:06 pm

    Property Features for 241 Highridge Drive New

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Covered, Driveway, Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Built-in Features, Decorative Lighting, Dry Bar, High Speed Internet Available, In-law Suite Floorplan, Kitchen Island, Natural Woodwork, Open Floorplan, Pantry, Walk-in Closet(s), Second Primary Bedroom
    Exterior features
    Courtyard, Covered Patio/Porch, Rain Gutters, Lighting, Private Yard, Stable/Barn, Storage, Fence
    Fencing
    Fenced
    Appliances
    Cooktop, Cooktop - Electric, Dishwasher, Garbage Disposer, Microwave, Washer
    Standard status
    Active
    APN
    R615700133401
    Size
    2,592 SF
    Lot size
    10.00 Acres

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Gas (Cooling)

    Building Details

    Year built
    1985
    Floors in Building
    1
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    New Traditional
    Additional Structures
    Barn(s), Stable(s), Storage

    We can help!

    Listing Contact
    Angela Culberson

    Listing agent Angela Culberson License #0771321

    Listing office CENTURY 21 Judge Fite Company 121 N. 8th St., Dallas, TX

    Listing date May 22, 2026

    MLS# 21251234 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.

    HighLights

    • 10‑acre ranch with ag exemption (9.2 acres), offering significant tax benefits.
    • Move‑in ready for equestrian or livestock enthusiasts with barns, stables, and piped‑fence horse coral.
    • Features a pool and spa with panoramic views, covered patio, and private backyard.
    • 5‑bedroom, 3‑bathroom home with in‑law suite potential.
    • Excellent location: McKinney ISD, close to shopping, dining, Oak Hollow Golf Course, The Clubs of Stonebridge Ranch, McKinney National Airport, and Downtown McKinney.
    • Low 1.55% tax rate and outside city limits.

    Overview

    This 10-acre ranch in New Hope, Texas, offers a blend of country living and convenience. Located in McKinney ISD, the property is equipped with barns, stables, and ample space for riding and grazing. The 5-bedroom, 3-bathroom home provides a comfortable layout. The kitchen features a central island and a large pantry. The dining room includes a built-in buffet. The primary bedroom has an ensuite bath with a soaking tub and separate shower. Additional bedrooms are separate from the primary, and one bedroom could serve as an in-law or guest suite with its own ensuite bathroom. The backyard includes a covered patio, pool, and spa. There is a barn with electric and water on a concrete slab, as well as a piped-fence horse coral. A circular driveway with porte cochere provides easy access. The property is located within 20 minutes of Oak Hollow Golf Course and The Clubs of Stonebridge Ranch, 10 minutes from the McKinney National Airport, 12 minutes from Downtown McKinney, and 14 minutes from the Recreation Center at Towne Lake. The property is located outside city limits. According to the County, the ag exemption is for 9.2 acres of the 10-acre property. The property has a 1.55% tax rate and the potential for subdivision.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Hope
    County
    Lavaca
    State
    Texas
    Longitude
    -96.6057
    Latitude
    33.2115

    FAQs

    What type of property is this?
    Ranch - 10-acre ranch in New Hope, TX, with barns and stables.
    Where is this ranch located?
    The property is located at 241 Highridge Drive New Hope, TX.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 10‑acre ranch with ag exemption (9.2 acres), offering significant tax benefits.; Move‑in ready for equestrian or livestock enthusiasts with barns, stables, and piped‑fence horse coral.; Features a pool and spa with panoramic views, covered patio, and private backyard.
    (817) 960-9611
    We can help!
    Listing Contact
    Angela Culberson
    Real Estate License ID: 0771321
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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.

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