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    505 County Road 121 Stephenville, TX 76401

    Sponsored
    For Sale
    $1,650,000

    Traditional, Farm/Ranch - Stephenville, TX

    Type:Farm
    Property size:
    2,223 SF
    Lot size:
    97.18 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 2 at 3:06 am

    Property Features for 505 County Road 121

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    2
    APN
    R000020704
    Parking features
    Carport
    Patio and Porch features
    Patio, Porch
    Interior features
    Built-in Features
    Exterior features
    Covered Patio/Porch, Stable/Barn
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Range, Range - Gas, Washer
    Size
    2,223 SF
    Lot size
    97.18 Acres

    Utilities

    Heating system
    Fireplace(s)

    Building Details

    Year built
    2006
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Stone
    Roof type
    Metal
    Architectural style
    New Traditional
    Additional Structures
    Barn(s), Stable(s)

    We can help!

    Listing Contact
    Ben Tackett

    Monument Realty (214) 705-7827

    Listing agent Ben Tackett (214) 705-7827 License #0671323

    Listing date Mar 1, 2026

    MLS# 21193412 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

    Texas Ranch with Custom Home

    This 97± acre ranch in Huckabay, Texas, features a 2,223 square foot custom home with 4 bedrooms and 2 baths. The open concept layout is filled with natural light and includes a wood burning fireplace with propane lighter. The kitchen features a gas stove, abundant cabinetry, bar seating, and a formal dining area overlooking scenic coastal pastures. The primary suite offers patio access, dual sinks, a soaking tub, separate shower, and a walk-in closet. A mud room includes a sink, washer and dryer space, and room for an extra freezer. Outside, the property includes a covered back patio, a large carport with storage room, a 5 stall 12x12 barn with runs, a 24x16 tack room or shop with double doors, an additional storage shed with trailer cover, cattle pens, and two ponds. The property is fully fenced and cross fenced with high producing coastal fields suitable for livestock and horses. A small hunting cabin is also located on the property. The property is located within Huckabay ISD and offers convenient access to Stephenville and the interstate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.339828
    Latitude
    32.409246

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    FAQs

    What type of property is this?
    Ranch - 97-acre ranch featuring a 2,223 sq ft custom home.
    Where is this ranch located?
    The property is located at 505 County Road 121 Stephenville, TX.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: - 97± acre ranch ideal for livestock and horses.; - Custom 2,223 sq ft home with 4 bedrooms and 2 baths, featuring an open concept layout and wood-burning fireplace.; - Ranch improvements include a 5-stall barn with runs, a 24x16 tack room/shop, storage shed with trailer cover, and cattle pens.
    (214) 705-7827
    Request Owner's contact information
    505 County Road 121 Stephenville, TX 76401
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    Stephenville, TX 76401
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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
    505 County Road 121 Stephenville, TX 76401
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    We can help!
    Listing Contact
    Ben Tackett
    Real Estate License ID: 0671323
    (214) 705-7827 (214) 705-7821 (888) 519-7431
    Learn more
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