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    4798 E Fm 198 Lake Creek, TX 75450

    View on Map
    Sponsored
    For Sale
    $3,950,000

    Ranch - Lake Creek, TX

    Type:Ranch
    Lot size:
    446.00 Acres
    Days on Market:
    22
    Last Refresh:
    Mar 15 at 9:06 am

    Property Features for 4798 E Fm 198

    General Information

    Property type
    Land
    Property subtype
    Ranch
    Standard status
    Active
    APN
    2972
    Patio and Porch features
    Deck
    Exterior features
    Covered Deck, Fire Pit, Rain Gutters, Lighting, Rv Hookup, Rv/Boat Parking, Stable/Barn, Storage, Uncovered Courtyard, Fence
    Fencing
    Fenced
    Fireplace
    1
    Lot size
    446.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s), Fireplace Insert
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Architectural style
    Ranch
    Additional Structures
    Barn(s), RV/Boat Storage, Stable(s), Storage

    We can help!

    Listing Contact
    Sabrina Kreutzer
    Sabrina Kreutzer

    Stewart Realty & Associates LLC (803) 243-0379

    Listing agent Sabrina Kreutzer (903) 243-0379 License #0750128

    Listing date Feb 21, 2026

    MLS# 20947482 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

    Lake Creek Ranch with Equestrian Arena

    This 446-acre ranch in North East TX features lush native grasses suitable for cattle and hay production. The property is equipped with covered cattle working pens and seven cross-fenced pastures designed for rotational grazing, currently supporting 120 head of cattle. A 30 x 40 shop with a 20’ overhang provides equipment storage. Water sources include nine ponds, suitable for waterfowl hunting and bass fishing, in addition to attracting deer and hogs. The property includes a 100 x 225’ fully lighted covered arena, connected to a covered 30 x 225 barn with nine pipe pens and automatic water. There are also four 1-acre turnout pastures and two 2-acre turnouts, each with covered sheds and automatic water. The ranch has three houses: a 1700 sq ft, 3-bed, 1-bath homestead ranch house with a yard and mature pecan trees; a 1400 sq ft 3-bed, 2-bath farm-style manufactured home built in 2019; and a newly built 1200 sq ft 2-bed, 1-bath barndominium-style home. Located 20 minutes south of Paris and 80 miles north of Dallas, this property is suited for a family business or rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Lake Creek
    County
    Delta
    State
    Texas
    Longitude
    -95.52701
    Latitude
    33.431572

    Nearby Similar for Sale

    • $2,499,000
      269.19 Acres

      Delta County Ranch with Acreage

      277-acre ranch in Delta County with grazing and hunting potential.
      695 County Road 1210, Lake Creek, TX 75450
      View Details

    FAQs

    What type of property is this?
    Ranch - 446-acre ranch featuring equestrian facilities and multiple residences.
    Where is this ranch located?
    The property is located at 4798 E Fm 198 Lake Creek, TX.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: - 446 acres of lush, cross-fenced pastures ideal for cattle ranching, currently supporting 120 head of cattle.; - Premier horse training/boarding facility with a **100 x 225’ covered, lighted arena** and a 30 x 225’ covered barn with 9 pipe pens and automatic water.; - Three residences offering options for family living or rental income.
    (903) 243-0379
    Request Owner's contact information
    4798 E Fm 198 Lake Creek, TX 75450
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    Lake Creek, TX 75450
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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
    4798 E Fm 198 Lake Creek, TX 75450
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    We can help!
    Listing Contact
    Sabrina Kreutzer
    Sabrina Kreutzer
    Real Estate License ID: 0750128
    (903) 243-0379
    Learn more
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