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    Ranch Lot with Shop and Well Title is generated by Realmo AI

    Tract 6 STATE Avenue, Stephenville, TX 76401

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    Claim this Listing
    For Sale
    $396,000

    LAND - Stephenville, TX

    Lot size:
    13.28 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    50
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for Tract 6 STATE Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    RvHookup
    Standard status
    Active
    APN
    R000026290
    Lot size
    13.28 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 380.380 A0792 TOLAR A H(185.22 ACS); A

    Utilities

    Water source
    Well

    Building Details

    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Nikki Light

    Listing agent Nikki Light License #0705405

    Listing office Light Realty Stephenville, TX

    Listing date Apr 16, 2026

    MLS# 21229385 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

    • Tract 6 includes a shop with electric.
    • RV hookup available (RVHookup).
    • Water is available via a well already in place.
    • Texan Ranch West is a new 388+ acre subdivision in Stephenville, TX.
    • Homesites range from 10 to 23+ acres.
    • No HOAs reported; mature hardwoods and scattered ponds noted.

    Overview

    Tract 6 is a 13.28-acre ranch homesite within Texan Ranch West, a newly developed subdivision offering a mix of secluded acreage and more open views. The property includes a shop with electric service, along with RV hookup and a well already in place, which helps support flexible plans whether you’re building immediately or preparing the site first. Mature hardwoods and scattered ponds are part of the landscape, with space for a primary residence and additional improvements as desired.

    Texan Ranch West is located just minutes from the City of Stephenville, while still feeling distinctly countryside in character. The tract sits on an established road, and the community is described as having no HOAs and minimal restrictions. Photos reflect the overall feel of the development, including natural rolling terrain and a peaceful setting.

    This tract should appeal to buyers looking for a larger rural homesite that already has key utilities and site improvements underway, including a functional shop, RV hookup, and well. If you want to choose your own builder and build when you’re ready, the setting and acreage provide room to shape a long-term homestead plan in a low-association environment.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.2492
    Latitude
    32.2465

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    FAQs

    What type of property is this?
    Residential land & home lot - Secluded homesite in a new subdivision with an on-site shop with electric, RV hookup, and well already in place.
    Where is this residential land & home lot located?
    The property is located at Tract 6 STATE Avenue Stephenville, TX.
    What is the asking price?
    The asking price for this property is $396,000.
    What are key features of this property?
    This property features: Tract 6 includes a shop with electric.; RV hookup available (RVHookup).; Water is available via a well already in place.
    (817) 964-7559
    We can help!
    Listing Contact
    Nikki Light
    Real Estate License ID: 0705405
    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.

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