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    7939 S State Highway 78 Leonard, TX 75452

    Sponsored
    For Sale
    $699,999

    Farm/Ranch - Leonard, TX

    Type:Farm
    Property size:
    2,118 SF
    Lot size:
    17.62 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 12 at 2:06 am

    Property Features for 7939 S State Highway 78

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    000000074713
    Parking features
    Carport
    Appliances
    Dishwasher, Range, Washer
    Size
    2,118 SF
    Lot size
    17.62 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1998
    Floors in Building
    1
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Chaz Cameli

    Monument Realty (214) 705-7827

    Listing agent Chaz Cameli (214) 705-7827 License #0774669

    Listing date Feb 7, 2026

    MLS# 21173100 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

    Leonard TX Farm and Ranch

    Located just outside Leonard, this 17.6-acre property offers privacy and versatility with dual road access from State Highway 78 and County Road 3701. The property features a 3-bed, 2-bath main home with upgrades including a roof (2023), HVAC (2024), and windows (2025). Interior upgrades include new doors, paint, fixtures, thermostat, and tile in the bedrooms. The kitchen is fully updated with new cabinetry and modern finishes, while the guest bath features a replaced shower and new vanity and sink. The main home is built on an 8-inch post-tension slab with two-foot piers. A 640 sq ft tiny home with a separate entrance off CR 3701 includes 2 bedrooms, a bathroom, a full kitchen, and a living room, suitable for guests, rental income, or extended family. Additional structures include a 12x16 barn with a storage loft, a 10x20 spray foam insulated red storage shed attached to a two-stall carport, and an 8x20 blue shed attached to a three-stall carport. The property also features a fenced garden and a livestock feeding and grazing area. The entire property is fully fenced and private. The property is located minutes from Bois d’Arc Lake and the future Lake Ralph Hall, projected to be completed by 2026. The property may be subdivided.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Leonard
    County
    Fannin
    State
    Texas
    Longitude
    -96.159582
    Latitude
    33.464064

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    FAQs

    What type of property is this?
    Farm - 17.6-acre property with upgraded home and rental potential.
    Where is this farm located?
    The property is located at 7939 S State Highway 78 Leonard, TX.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: - 17.6-acre property with no restrictions and dual road access; - Move-in ready main home with extensive recent upgrades including roof (2023), HVAC (2024), and windows (2025); - Separate 640 sq ft tiny home with full amenities, ideal for guests or rental income
    (214) 705-7827
    Request Owner's contact information
    7939 S State Highway 78 Leonard, TX 75452
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    Leonard, TX 75452
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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
    7939 S State Highway 78 Leonard, TX 75452
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    We can help!
    Listing Contact
    Chaz Cameli
    Real Estate License ID: 0774669
    (214) 705-7827
    Learn more
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