Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Wooded Homesite with Boat Access Title is generated by Realmo AI

    3121 Shadow Pines, Larue, TX 75770

    View on Map
    Claim this Listing
    For Sale
    $175,000

    LAND - Larue, TX

    Lot size:
    2.62 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    36
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 3121 Shadow Pines

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    3358-0000-0860-10
    Lot size
    2.62 Acres

    We can help!

    Listing Contact
    Melanie Baker
    Melanie Baker

    Listing agent Melanie Baker License #0600461

    Listing office Ebby Halliday Realtors Forney, TX

    Listing date Apr 30, 2026

    MLS# 21254643 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

    • 2.62‑acre wooded homesite on Flat Cove in the Legacy Shores gated community on Lake Palestine
    • Lake community with just 91 homesites, plus gated entry and paved roads
    • Utilities available: community water, electricity, and broadband
    • Flat Cove is described as having deep, calm waters for bass fishing, kayaking, canoeing, and recreational boating
    • Property includes access to a designated undeveloped boat slip area
    • Lake Palestine is a 25,000‑acre lake known for largemouth bass tournaments and year‑round fishing

    Overview

    Tucked behind the gates of Legacy Shores on the shores of Lake Palestine, this wooded 2.62-acre homesite offers a private setting for a custom build. The lot features a natural mix of hardwoods and pines, providing a high level of privacy and a scenic, park-like backdrop. The area is known for abundant wildlife, including deer, foxes, rabbits, and waterfowl, with herons, freshwater pelicans, and bald eagles reported in the surrounding stretch of the lake. Flat Cove is appreciated for its deep, calm waters, supporting activities like bass fishing, kayaking, canoeing, and recreational boating.

    The neighborhood is a gated community with paved roads and a low-density feel, with just 91 homesites. The property includes access to a designated undeveloped boat slip area, designed to make time on the water straightforward. Community utilities include community water, electricity, and broadband availability. The location is also convenient to nearby East Texas employment and services, with Chandler, Tyler, and Frankston minutes away, and Dallas approximately 1.5 hours from the community.

    This is a strong fit for buyers seeking a secluded waterfront lifestyle without sacrificing practical access to essentials. Its wooded terrain, gated setting, and lake-focused amenities make it well-suited for either a weekend retreat or a full-time residence where outdoor recreation is part of everyday life.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Grocery & Convenience Store Food Market Pet Store & Service Farmer's Market Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Larue
    County
    Henderson
    State
    Texas
    Longitude
    -95.5240929
    Latitude
    32.199351

    Nearby Similar for Sale

    • $3,995,000

      Ranch with Stocked Lake

      East Texas ranch with a stocked lake, working ranch improvements, and an on-site barndominium ready for immediate use.
      11843 Highway 175 E, Larue, TX 75770
      View Details
    • $239,000

      Gated Waterfront Homesite

      Waterfront lot in the Legacy Shores gated community on Lake Palestine, with a cleared build site and added culvert access.
      3132 Shadow Pine Drive, Larue, TX 75770
      View Details
    • $818,000

      Wooded Hunting Land with Creek

      Nearly 100 acres with year-round Caney Creek and road frontage on two roads for flexible use and development access.
      FM 315, Larue, TX 75770
      View Details
    • $179,900

      Wooded Waterfront Land Lot

      Wooded lakefront lot in a gated community with shared fishing and RV facilities for a private country getaway.
      9122 Safari Bluff, Larue, TX 75770
      View Details
    • $105,000

      Gated Ranch Homesite Acreage

      Private 5-acre homesite in a gated community with lake access amenities and room for a custom build.
      7413 Quail Hollow Court, Larue, TX 75770
      View Details
    • $274,999

      Waterfront Lake Lot with Dock Potential

      Secluded lakefront lot with hardwood trees and direct waterfront for a future dock or boathouse build.
      Legacy Shores Lot 21 3142 Shadow Pine Drive, Larue, TX 75770
      View Details
    • $245,000

      Waterfront Residential Land with Boathouse

      Gently sloping waterfront homesite in a gated Lake Palestine community, offering over 160 feet of shoreline for a boathouse.
      3268 Shadow Pine Dr Lot 61, LaRue, TX 75770
      View Details
    • $175,000

      Waterfront Gated Homesite

      Wooded lake homesite behind a gated entry, with community utilities and access to a designated boat slip area.
      3121 Shadow Pine Drive, LaRue, TX 75770
      View Details
    • $149,900

      Wooded Waterfront Cul-de-Sac Lot

      Gated community wooded lot with a built house pad and waterfront access to a fishing pond.
      8950 Timber Ridge, LaRue, TX 75770
      View Details
    • $118,000

      Lake Cove Waterfront Homesite

      Level, hardwood-covered lot in a gated ranch community with waterfront views and dedicated recreational amenities.
      9042 Safari Bluff, Larue, TX 75770
      View Details
    • $385,000

      Waterfront Development Lot

      Gated Lake Palestine community lot with wooded privacy and direct shoreline on Flat Creek Bay for custom waterfront living.
      3150 Shadow Pine Drive, Larue, TX 75770
      View Details
    • $125,000

      Secluded Treed Acres in Larue

      7 acres with utilities, quiet, secluded, near amenities.
      7229 CR 4837, Larue, TX 75770
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Private gated lake homesite in Flat Cove with wooded privacy and designated boat slip access for year-round recreation.
    Where is this waterfront land located?
    The property is located at 3121 Shadow Pines Larue, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: 2.62‑acre wooded homesite on Flat Cove in the Legacy Shores gated community on Lake Palestine; Lake community with just 91 homesites, plus gated entry and paved roads; Utilities available: community water, electricity, and broadband
    (972) 772-1369
    We can help!
    Listing Contact
    Melanie Baker
    Melanie Baker
    Real Estate License ID: 0600461
    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
    3121 Shadow Pines, Larue, TX 75770
    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!