Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Lakefront Community Lot Title is generated by Realmo AI

    491 Reflection Bay Boulevard, Gordonville, TX 76245

    View on Map
    Claim this Listing
    For Sale
    $39,900

    LAND - Gordonville, TX

    Lot size:
    0.20 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    148
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 491 Reflection Bay Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    455749
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Description
    Reflection Bay ADDITION, BLOCK D, LOT 16
    Tax Annual Amount
    638

    Utilities

    Sewer type
    Private Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Danna Smith

    Listing agent Danna Smith License #0473510

    Listing office Smith & Kelly Group, LLC Gordonville, TX

    Listing date Jan 6, 2026

    MLS# 21121479 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

    • Interior corner lot in Reflection Bay, just two blocks from Lake Texoma
    • Lot size: just under 1/5 acre (5th of an acre)
    • Private water source and private sewer system (private sewer)
    • Access to Rock Creek Resort amenities, including fishing, boating, pool, clubhouse, restaurant, fitness center, and tennis/basketball/pickleball courts
    • Golf membership included with property ownership
    • Rock Creek Resort is part of a master‑planned golf course‑lake community on Lake Texoma, about 60 minutes north of DFW

    Overview

    This is a residential corner lot in the Reflection Bay subdivision, offering an interior corner configuration on roughly one-fifth of an acre. Its location within a master-planned community provides a strong platform for a new home build, including the potential for a lake view from a second-floor balcony. The property is positioned for buyers who want a custom-luxury setting with community-oriented amenities built into the ownership experience.

    The lot is described as being just two blocks from Lake Texoma and within Rock Creek Resort, a golf course-lake community on the Texas shores of Lake Texoma. The community is noted as approximately 60 minutes north of DFW. Ownership provides access to amenities listed in the remarks, including fishing, boating, a pool, clubhouse, restaurant, fitness center, and tennis-basketball-pickleball courts, along with golf membership.

    For buyers planning to build, this corner lot offers a straightforward residential canvas in a growing lake-and-golf environment. It may appeal to full-time residents, second-home buyers, and investors seeking a premium lifestyle location where HOA-covered amenities and community features are a key part of the purchase value.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Gordonville
    County
    Grayson
    State
    Texas
    Longitude
    -96.8872
    Latitude
    33.8367

    Nearby Similar for Sale

    • $349,000

      Flat Buildable Commercial Land Tract

      Nearly 2-acre tract with excellent visibility for commercial development near major road intersections.
      27960 US Highway 377, Gordonville, TX 76245
      View Details
    • $3,850,000

      Texas Ranch with Country Homes

      Generous ranch acreage near Lake Texoma with two homes, stocked tanks, and outbuildings suited for a working lifestyle.
      850 Gordonville Rd, Gordonville, TX 76245
      View Details
    • $180,000

      Secluded Land Near Lake Texoma

      4-acre treed property near Lake Texoma and Megastar Casino.
      1648 Gordonville Road, Gordonville, TX 76245
      View Details
    • $299,995

      Unzoned Development Land Tract

      Unzoned acreage near Riddle Road, ready for flexible planning with water and electric service available.
      US HWY 377 lot: 2 Tba, Gordonville, TX 76264
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Corner lot in Reflection Bay with access to resort amenities near Lake Texoma.
    Where is this residential land & home lot located?
    The property is located at 491 Reflection Bay Boulevard Gordonville, TX.
    What is the asking price?
    The asking price for this property is $39,900.
    What are key features of this property?
    This property features: Interior corner lot in Reflection Bay, just two blocks from Lake Texoma; Lot size: just under 1/5 acre (5th of an acre); Private water source and private sewer system (private sewer)
    (214) 642-8997
    We can help!
    Listing Contact
    Danna Smith
    Real Estate License ID: 0473510
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    491 Reflection Bay Boulevard, Gordonville, TX 76245
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!