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    3703 Fm 39 N Mexia, TX 76667

    View on Map
    Sponsored
    For Sale
    $939,900

    Farm/Ranch - Mexia, TX

    Type:Farm
    Property size:
    1,972 SF
    Lot size:
    58.84 Acres
    Days on Market:
    39
    Last Refresh:
    Mar 15 at 6:06 am

    Property Features for 3703 Fm 39 N

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    R15257
    Parking features
    Carport, Driveway
    Interior features
    Built-in Features, Granite Counters, Vaulted Ceiling(s)
    Exterior features
    Outdoor Kitchen, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Range, Washer
    Size
    1,972 SF
    Lot size
    58.84 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2021
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Metal Siding, Stone
    Roof type
    Metal
    Architectural style
    Ranch
    Additional Structures
    Outdoor Kitchen

    We can help!

    Listing Contact
    Kara McLelland
    Kara McLelland

    Realty Plus - Groesbeck (254) 729-5555

    Listing agent Kara McLelland (254) 729-5555 License #0587384

    Listing date Feb 4, 2026

    MLS# 21106416 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.

    Learn more

    Property Insight Report

    Overview

    Horse Property with Rodeo Arena

    This property, suitable for horse or rodeo enthusiasts, includes a site-built home and extensive improvements on approximately 58 acres of land south of Mexia, TX. The property has approximately 3,000 feet of frontage on FM 39 and road frontage on 3 sides. Constructed in 2021, the 1,972 square foot home features a metal roof, stone and siding exterior, 4 bedrooms, and 3 bathrooms. Interior features include a stone fireplace, vaulted ceilings, an open concept kitchen with a large island and stainless steel appliances, and a master suite with a garden tub, separate shower, and walk-in closets. The home also has covered front and back patios and an outdoor kitchen with stainless steel appliances. The land includes 3 ponds and improved pastures fenced and cross-fenced into several sections with an alley connecting each section. Additional improvements include a single wide mobile home guest quarters, an oversized 2-car carport and storage, a small equipment barn, a large pole barn, covered dog kennels, and a horse barn with enclosed stalls, a saddle tack room, and a 1-bed, 1-bath guest quarters. A rodeo arena features overhead lighting, loading and unloading docks, covered working pens and shoots, an announcer's booth, a guest restroom, and gravel parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.41118895
    Latitude
    31.58654485

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    FAQs

    What type of property is this?
    Horse & equestrian property - 58-acre horse property featuring a custom home and rodeo arena.
    Where is this horse & equestrian property located?
    The property is located at 3703 Fm 39 N Mexia, TX.
    What is the asking price?
    The asking price for this property is $939,900.
    What are key features of this property?
    This property features: - Private rodeo arena featuring lighting, loading docks, covered working pens, announcer's booth, restroom, and parking.; - Approximately 58 acres of fenced and cross-fenced land with improved pastures and 3 ponds.; - Custom-built 4-bedroom, 3-bathroom home (built in 2021) with stone fireplace, vaulted ceilings, and open concept kitchen.
    (254) 729-5555
    Request Owner's contact information
    3703 Fm 39 N Mexia, TX 76667
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    Mexia, TX 76667
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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.

    More about this property
    3703 Fm 39 N Mexia, TX 76667
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    We can help!
    Listing Contact
    Kara McLelland
    Kara McLelland
    Real Estate License ID: 0587384
    (254) 729-5555 (254) 562-2121 (254) 265-0112
    Learn more
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