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    Off-Grid Hunting Ranch with Barndominium Title is generated by Realmo AI

    371 Axis Court, Melvin, TX 76858

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    Claim this Listing
    For Sale
    $2,000,000

    LAND - Other - Melvin, TX

    Property size:
    3,825 SF
    Lot size:
    100.10 Acres
    Price / SF:
    $522/SF
    Added:
    May 19, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 371 Axis Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Property condition
    Under Construction
    Vegetation
    Wooded, Grassed, Brush
    Fireplace
    1
    Standard status
    Active
    APN
    37953
    Lot size
    100.10 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Solar (Heating), Central, Fireplace(s)
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Well

    Building Details

    Year built
    2025
    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Jesica Enger

    Listing agent Jesica Enger License #0795478

    Listing office Heartland Real Estate Group Brady, TX

    Listing date May 19, 2026

    MLS# 21274540 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

    • 100+/- acre ag‑exempt ranch with hunting for axis deer, whitetail, turkey, quail, dove, and hogs
    • 2025 custom off‑grid 2‑bedroom, 2‑bath barndominium with a 45' x 85' footprint
    • Solar‑powered water well with two large black poly water storage tanks in a separate metal building
    • Separate 25' x 45' apartment layout includes a pantry and dedicated laundry room
    • Central heating and central air, plus fireplace(s) and ceiling fans
    • Well water and septic tank system; POA maintains private roads and oversees agricultural exemptions

    Overview

    This off-grid ranch offers wide-open Texas living on approximately 100+ acres of ag-exempt land, anchored by a custom-built, two-bedroom barndominium. At the heart of the property is a 45' x 85' off-grid structure designed for efficiency and versatility. A 25' x 45' two-bedroom, two-bath apartment provides comfortable living quarters, including a separate pantry and dedicated laundry room. Additional space within the barndominium is well-suited for a workshop, equipment storage, or future build-out. For water reliability, the ranch is served by a solar-powered water well feeding two large black poly water storage tanks, securely housed in a separate metal building.

    The property is described as excellent for hunting, with axis deer, whitetail, turkey, quail, dove, and hogs noted on-site. The land also participates in a property owners association (POA) that maintains private roads and oversees agricultural exemptions, helping preserve the rural setting while providing shared maintenance support.

    This offering should appeal to buyers seeking a self-sufficient recreational ranch, an off-grid homestead environment, or long-term land investment with room to adapt. With expansive acreage and on-property hunting, it supports livestock and outdoor recreation, while the existing barndominium provides an immediate base for daily use.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Melvin
    County
    McCulloch
    State
    Texas
    Longitude
    -99.5214
    Latitude
    31.1349

    FAQs

    What type of property is this?
    Ranch - Ag-exempt acreage with an off-grid two-bedroom barndominium and solar-powered water support for reliable year-round recreation.
    Where is this ranch located?
    The property is located at 371 Axis Court Melvin, TX.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 100+/- acre ag‑exempt ranch with hunting for axis deer, whitetail, turkey, quail, dove, and hogs; 2025 custom off‑grid 2‑bedroom, 2‑bath barndominium with a 45' x 85' footprint; Solar‑powered water well with two large black poly water storage tanks in a separate metal building
    (918) 606-0310
    We can help!
    Listing Contact
    Jesica Enger
    Real Estate License ID: 0795478
    Learn More
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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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