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    420 Martin Luther King Dr Mexia, TX 76667

    For Sale
    $369,900

    Multiple Single Units - Mexia, TX

    Lot size:
    4.00 Acres
    Days on Market:
    86
    Last Refresh:
    Dec 9 at 8:06 pm

    Property Features for 420 Martin Luther King Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    R16349
    Parking
    10
    Interior features
    Built-in Features, Cable Tv Available, Decorative Lighting, Eat-in Kitchen, High Speed Internet Available, Paneling, Pantry
    Appliances
    Dishwasher, Range, Refrigerator, Washer
    Lot size
    4.00 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    2007
    Floors in Building
    1
    Flooring type
    Carpet, Linoleum
    Building materials
    Board & Batten Siding, Vinyl Siding
    Roof type
    Composition
    Architectural style
    Other

    Minnette Murray Properties (214) 521-0044

    Listing agent Mitzi Eves (214) 453-1850 License #485908

    Listing date Sep 15, 2025

    MLS# 20517554 Listing URL

    Copyright © 2025 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

    Highway 14 Investment Property

    Located on Highway 14, this property presents a rental and investment opportunity. It includes four manufactured homes, a cabin, and space for additional units. The existing manufactured homes were purchased, moved to the property, and remodeled over time. The rental inventory consists of a 750-square-foot manufactured home, an 1116-square-foot manufactured home, another 750-square-foot manufactured home, an 1824-square-foot manufactured home, and a 480-square-foot cabin. Additional structures include a 1200-square-foot metal building, a 400-square-foot three-sided metal carport with a tall roof, and a portable single metal carport. The property offers the potential to add more manufactured homes to increase income. Subject to county approval and septic availability, RV camper sites could also be added. A new survey is underway, and the property is expected to be 3.04 acres.
    Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.492579
    Latitude
    31.683899

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    FAQs

    What type of property is this?
    Residential income property - Rental property with multiple units and expansion potential in Mexia.
    Where is this residential income property located?
    The property is located at 420 Martin Luther King Dr Mexia, TX.
    What is the asking price?
    The asking price for this property is $369,900.
    What are key features of this property?
    This property features: - Income-producing property with 4 manufactured homes and a cabin currently rented.; - Significant income potential with room to add more manufactured homes.; - Highway 14 frontage, ideal for rental or investment.
    (214) 453-1850
    Request Owner's contact information
    420 Martin Luther King Dr Mexia, TX 76667
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    Mexia, TX 76667
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    Realmo Value Estimation

    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.

    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.

    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
    420 Martin Luther King Dr Mexia, TX 76667
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