Farmhouse & Livestock
For Sale
$750,000
763 Upper Elgin River Road, Elgin, TX 78621
CommercialSale, Elgin, TX
Property Size2,100 SF
Lot Size19.00 Acres
Price / SF$357.14
Days on Market88
Property Features for 763 Upper Elgin River Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Carport
Subdivision
Standifer, James
Lot features
Ten To Twenty Acres, Outside City Limits, Open Lot
Elementary school district
Elgin ISD
Middle school district
Elgin ISD
High school district
Elgin ISD
Directions
From downtown Elgin head west on E 2nd St toward N Main St. Turn left at the 1st cross street onto N Main St. Then turn right onto Central Ave. Continue onto Upper Elgin River Road for 3.5 miles & the property will be on your left.
Standard status
Active
APN
54481
Size
2,100 SF
Lot size
19.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A60 STANDIFER, JAMES, ACRES 18.998
Tax Annual Amount
7040
Legal Description
A60 STANDIFER, JAMES, ACRES 18.998
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Listing Agency:
Land Unlimited
(512) 729-7139
Listed By:
Kaylee Sutton · License #0700093
(512) 470-4237
Added: Jun 4
Changed: Aug 20
Last Checked: Aug 30 at 10:06AM
MLS# 614570
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on nearly 19 unrestricted acres, this property includes a character-rich farmhouse with 4 bedrooms and 2 bathrooms. The layout places 2 bedrooms and 1 bathroom on the main level, with an additional 2 bedrooms and 1 bathroom upstairs. Mature trees, a large pond, and perimeter fencing are already in place, providing an immediate foundation for rural living and livestock use such as cattle or horses, subject to the property’s intended operation.
Located between Elgin and Bastrop, the property is described as less than 30 minutes from Austin, offering a balance of country privacy and access to nearby amenities. The remarks note there are no restrictions and no floodplain, supporting flexibility in how the land and existing home can be utilized.
For buyers looking for a rural retreat with room to grow, the existing farmhouse offers a primary residence while the surrounding acreage supports expanded plans such as multi-generational living or a hobby farm setup. With no restrictions and fencing already established, the property may also fit buyers seeking a self-directed homestead-style use or additional on-site improvements, guided by their own vision for the site.
Located between Elgin and Bastrop, the property is described as less than 30 minutes from Austin, offering a balance of country privacy and access to nearby amenities. The remarks note there are no restrictions and no floodplain, supporting flexibility in how the land and existing home can be utilized.
For buyers looking for a rural retreat with room to grow, the existing farmhouse offers a primary residence while the surrounding acreage supports expanded plans such as multi-generational living or a hobby farm setup. With no restrictions and fencing already established, the property may also fit buyers seeking a self-directed homestead-style use or additional on-site improvements, guided by their own vision for the site.
Key Highlights
- Farmhouse built in 1940 with central heating and central air
- 4 bedrooms and 2 bathrooms; 2 beds/1 bath downstairs and 2 beds/1 bath upstairs
- Just under 19 unrestricted acres with mature trees, a large pond, and perimeter fencing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,191
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$643,820
$643.8K
Cap Rate 7%
$459,871
$459.9K
Cap Rate 9%
$357,678
$357.7K
Market Conditions
NOI Build-Up for 2,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.7K $29.40/SF
− Vacancy
−$3.2K −$1.53/SF
EGI
$58.5K $27.87/SF
− OpEx
−$26.3K −$12.54/SF
NOI
$32.2K $15.33/SF
Area
Bastrop County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$643,820
Cap Rate 7%
$459,871
Cap Rate 9%
$357,678
Alternative Uses
Best Use
Apartment 5plus
$459.9K
$402.4K – $536.5K
NOI $32,191 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.9K
$720.1K – $960.1K
NOI $57,604 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 78621, TX
27,275
Population
10,671
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
81%
High-School Grad
177.7 sq mi
ZIP Area
153
Density / Sq Mi
$88,246
Median Household Income
$48,955
Median Earnings
$1,317
Median Rent
$262,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - Farmhouse on unrestricted acreage with a pond and perimeter fencing suited for livestock, plus space for additional uses.
Where is this agricultural land / farmland located?
The property is located at 763 Upper Elgin River Road Elgin, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Farmhouse built in 1940 with central heating and central air; 4 bedrooms and 2 bathrooms; 2 beds/1 bath downstairs and 2 beds/1 bath upstairs; Just under 19 unrestricted acres with mature trees, a large pond, and perimeter fencing
