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    4008 Farm to Market Road 949 Millheim, TX 77474

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    For Sale
    $7,750,000

    Residential (farm-ranch),Farm,Standard Frame - Millheim, TX

    Type:Farm
    Property size:
    8,902 SF
    Lot size:
    430.46 Acres
    Added:
    Apr 8, 2026
    Days on Market:
    10
    Last Refresh:
    Apr 17 at 2:06 am

    Property Features for 4008 Farm to Market Road 949

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    6
    Bathrooms
    7
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Carport, Garage
    Vegetation
    Partially Wooded, Wooded
    Pool private
    1
    Exterior features
    Barn(s), Barns, Additional_house, Pool, Additional House, Partially Wooded, Pond, Well
    Fireplace
    1
    Standard status
    Active
    APN
    R000002482
    Size
    8,902 SF
    Lot size
    430.46 Acres

    Utilities

    Heating system
    Central, Fireplace(s)

    Building Details

    Year built
    2007
    Year renovated
    2007
    Floors in Building
    2
    Building materials
    Stone
    Roof type
    Composition
    Architectural style
    Ranch
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Frank Monk

    Listing agent Frank Monk License #167943

    Listing office J. FRANK MONK REAL ESTATE Located On the Bellville Town Square, Bellville, TX

    Listing date Apr 8, 2026

    MLS# 154581 Listing URL

    Copyright © 2026 South Central Texas Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Austin County Ranch Estate

    This 430-acre ranch is situated in the rolling hills of Austin County, offering panoramic views. The property features rolling pasture, native grasses, mature wooded areas, and abundant wildlife. Multiple ponds, Mill Creek frontage, five water wells, and barns enhance the ranch. The property includes an 8,000 sq. ft. residence with six bedrooms and six and a half baths. The open-concept plan flows from the chef’s kitchen to the living area with wet bar and through French doors to a covered outdoor kitchen. A private primary wing includes a spacious bedroom, spa-style bath, and office. Amenities include a pool and spa, expansive outdoor living areas, a three-car attached garage, a detached four-bay garage, and a versatile entertainment facility. Sidewalks connect the estate’s improvements. A historic home provides accommodations for guests or ranch staff.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Millheim
    County
    Austin
    State
    Texas
    Longitude
    -96.2064
    Latitude
    29.7835

    FAQs

    What type of property is this?
    Ranch - Refined 430-acre ranch with luxury residence and scenic views.
    Where is this ranch located?
    The property is located at 4008 Farm to Market Road 949 Millheim, TX.
    What is the asking price?
    The asking price for this property is $7,750,000.
    What are key features of this property?
    This property features: 430‑acre ranch with panoramic views and abundant wildlife.; Impressive 8,000 sq. ft. residence with 6 bedrooms and 6.5 baths.; Enjoy the pool and spa with expansive outdoor living areas, including a covered outdoor kitchen.
    (979) 865-3558
    We can help!
    Listing Contact
    Frank Monk
    Real Estate License ID: 167943
    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.

    More about this property
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