Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    289 County Road 1661 Chico, TX 76431

    View on Map
    Claim this Listing
    For Sale
    $390,000

    Improved Land - Chico, TX

    Lot size:
    23.83 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 27 at 12:06 am

    Property Features for 289 County Road 1661

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    749927
    Lot size
    23.83 Acres

    Building Details

    Year built
    2009
    Architectural style
    Other

    We can help!

    Listing Contact
    Cher Price

    Listing agent Cher Price License #0543113

    Listing office eXp Realty LLC 5605 North McArthur Blvd, Austin, TX

    Listing date Mar 10, 2026

    MLS# 21129357 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.

    Overview

    Unrestricted Acreage in Wise County

    This 23.83-acre tract is located in a quiet, unrestricted area of Wise County, within the Chico Independent School District. The property features existing infrastructure, including a septic system with maintenance completed in 2025, a water well with a new tank and pressure switch, and two electric meters. A 60x30 hay barn is present on the land, along with a cement storm cellar measuring 11x13. Internet access is available. A mobile home is currently on site but holds no value. The land is secluded and spacious, located 20 minutes from Decatur and 8 minutes from Chico. Situated outside of city limits with no known zoning, this land is positioned for strong value and future use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Chico
    County
    Wise
    State
    Texas
    Longitude
    -97.837105
    Latitude
    33.335487

    Nearby Similar for Sale

    • $1,480,000

      Lakefront Resort Development Opportunity

      4.5-acre Lake Bridgeport resort with income-producing amenities.
      180 Private Rd 1735, Chico, TX 76431
      View Details
    • $399,900

      Waterfront Acreage on Lake Bridgeport

      1.04 acre waterfront lot with lake views and amenities.
      245 Grand Harbor Boulevard, Chico, TX 76431
      View Details
    • $1,499,950
      4,804 SF

      Equestrian Paradise Near Lake Bridgeport

      27-acre equestrian paradise with modern ranch house near Lake Bridgeport.
      5071 Fm 1810, Chico, TX 76431
      View Details
    • $299,000

      Functional Storefront in Chico Town

      Storefront property with high foot traffic near local amenities.
      113 W Decatur Street, Chico, TX 76431
      View Details
    • $234,500

      Lake Bridgeport Waterfront Homesite Opportunity

      A rare opportunity to create a special lakefront escape.
      108 Three Forks Crossing, Chico, TX 76431
      View Details
    • $47,000

      Lake Bridgeport Acreage in Gated Community

      1.509 acres in gated community with lake access.
      118 Demonbreun Court, Chico, TX 76431
      View Details
    • $400,000

      Improved Pasture Land For Sale

      16+ acres of improved pasture with ample road frontage.
      16 Acres Fm 1655 CR-1460, Chico, TX 76431
      View Details
    • $85,000

      Commercial Land in Chico, Texas

      0.817-acre commercially zoned vacant lot in Chico, Texas.
      402 E Jacksboro Street, Chico, TX 76431
      View Details
    • $492,000

      Unrestricted Land with Pond, Chico

      40.9 acres near Chico, TX, with pond and utilities.
      2549 N Hwy 101, Chico, TX 76431
      View Details
    • $275,000

      Unrestricted Land Near Lake Bridgeport

      5.3 acres of unrestricted land near Wise County Park.
      297 County Road 1643, Chico, TX 76431
      View Details
    • $185,000

      Unrestricted Land in Chico, Texas

      4.92 acres of unrestricted land with utilities in Chico, TX.
      1385 CR-1340, Chico, TX 76431
      View Details
    • $777,920

      Wise County Scenic Land

      Nearly 60 acres in Wise County, ideal for building.
      1179 CR 1470, Chico, TX 76431
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 23.83 acres with utilities, ready for development.
    Where is this agricultural land / farmland located?
    The property is located at 289 County Road 1661 Chico, TX.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: 23.83 acres in a quiet, unrestricted area of Wise County, offering seclusion and spaciousness.; Utilities and key infrastructure already in place: **septic system (2025 maintenance completed), water well (new tank and pressure switch), and two electric meters.**; Located in Chico ISD, just 20 minutes from Decatur and 8 minutes from Chico.
    (888) 519-7431
    We can help!
    Listing Contact
    Cher Price
    Real Estate License ID: 0543113
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!