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    6940 N US Highway 281 Stephenville, TX 76401

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    For Sale
    $1,435,000

    Farm/Ranch, Contemporary/Modern - Stephenville, TX

    Type:Farm
    Property size:
    3,136 SF
    Lot size:
    15.45 Acres
    Price / SF:
    $457/SF
    Added:
    Jan 29, 2026
    Days on Market:
    98
    Last Refresh:
    May 7 at 8:06 am

    Property Features for 6940 N US Highway 281

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Carport, Driveway, Paved or Surfaced, RV
    Interior features
    Double Vanity, Eat-in Kitchen, Flat Screen Wiring, Granite Counters, High Speed Internet Available, Kitchen Island, Open Floorplan, Pantry, Vaulted Ceiling(s), Walk-in Closet(s)
    Exterior features
    Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Oven - Double, Range, Range - Gas, Refrigerator, Refrigerator - Built-in, Washer, Water - Softener
    Standard status
    Active
    APN
    R000066354
    Size
    3,136 SF
    Lot size
    15.45 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Floors in Building
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic, Wood
    Building materials
    Stone
    Roof type
    Composition
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Marandy Dove
    Marandy Dove

    Listing agent Marandy Dove License #0655896

    Listing office Marandy Dove Realty 315 CR 393, Stephenville, TX

    Listing date Jan 29, 2026

    MLS# 21101779 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

    • 16.04 acre property with impressive rock home, minutes from Stephenville.
    • Enjoy the heated pool with hot tub and Aqualink system.
    • 40x60 workshop with apartment and separate entrance, ideal for business needs.
    • Roping arena, cabin, 4‑stall barn with heated water, tack room, and feed room.
    • Commercial‑grade Viking appliances, granite countertops, and custom cabinetry.
    • Coastal property that produced over 40 round bales this year.

    Overview

    Stephenville Farmhouse with Equestrian Amenities

    Located minutes from Stephenville, this property features a 3,136 square-foot home with four bedrooms and 3.5 bathrooms on 15.45 acres along N Hwy 281. The rock home includes a main floor master suite, with three additional bedrooms and two baths upstairs. The open-concept lower level features a gas fireplace that can also be used as wood-burning. The kitchen is equipped with commercial-grade stainless steel Viking appliances, granite countertops, and custom cabinetry. The property includes a heated pool with hot tub and Aqualink system. Equestrian amenities include a roping arena, a four-stall barn with heated water, a tack room, and a feed room. There's also a second barn with two stalls and a feed-tack combo room. Additional features include an irrigated greenhouse and garden area, a chicken coop, and three RV hookups. A 40x60 workshop with an apartment and a separate entrance is ideal for business needs. A new well pump was installed in 2024. The property has coastal and has produced over 40 round bales this year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Auto Repair Shop Auto Parts Store Department Store Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.157278
    Latitude
    32.17222

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    FAQs

    What type of property is this?
    Farm - Spacious home on 15+ acres with pool and barns.
    Where is this farm located?
    The property is located at 6940 N US Highway 281 Stephenville, TX.
    What is the asking price?
    The asking price for this property is $1,435,000.
    What are key features of this property?
    This property features: 16.04 acre property with impressive rock home, minutes from Stephenville.; Enjoy the heated pool with hot tub and Aqualink system.; 40x60 workshop with apartment and separate entrance, ideal for business needs.
    (254) 485-2285
    We can help!
    Listing Contact
    Marandy Dove
    Marandy Dove
    Real Estate License ID: 0655896
    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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