Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    91 State Highway 16 S Goldthwaite, TX 76844

    View on Map
    Claim this Listing
    For Sale
    $1,684,274

    Ranch - Goldthwaite, TX

    Type:Ranch
    Lot size:
    177.29 Acres
    Added:
    Nov 26, 2025
    Days on Market:
    161
    Last Refresh:
    May 6 at 7:06 am

    Property Features for 91 State Highway 16 S

    General Information

    Property type
    Land
    Property subtype
    Ranch
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    R000004055
    Lot size
    177.29 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Roy Pfingsten

    Listing agent Roy Pfingsten License #0516718

    Listing office Texas Country Real Estate 27001 Highway 183, Boyd, TX

    Listing date Nov 26, 2025

    MLS# 20559569 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.

    Overview

    Goldthwaite Ranch with Equestrian Facilities

    This 177.292+ acre ranch is located near Goldthwaite, TX. The property features three ponds and a creek. It has frontage on both Highway 16 and FM Highway 3023. The property includes two water wells. Equestrian facilities include a set of 13-stall horse stables, a roping arena, a horse walker, and a round pen. Water lines are run to the back pastures, and the property is cross-fenced into 5 pastures. A single wide mobile home with three bedrooms and two bathrooms is also located on the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Real Estate Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Goldthwaite
    County
    Mills
    State
    Texas
    Longitude
    -98.566985
    Latitude
    31.502589

    Nearby Similar for Sale

    • $825,000
      1,639 SF

      Texas Ranch with Custom Home

      66.5 acre ranch near Goldthwaite with custom home.
      194 County Road 214, Goldthwaite, TX 76844
      View Details
    • $825,000

      Legacy Ranch with Highway Frontage

      121-acre ranch with hunting opportunities, pastures, and highway frontage.
      730 E US HWY 84, Goldthwaite, TX 76844
      View Details
    • $298,900

      Versatile Commercial Space in Goldthwaite

      Unique commercial property with high visibility and flexible usage options.
      1208 Fisher, Goldthwaite, TX 76844
      View Details
    • $1,895,000
      2,500 SF

      88-Acre Ranch with Vineyard Potential

      An 88-acre ranch in Mills County with equestrian and viticultural potential.
      177 County Road 410, Goldthwaite, TX 76844
      View Details
    • $529,875

      33.24 Acres with Barndominium

      Rolling hills ranch with barndominium near Goldthwaite, Texas.
      131 County Road 317, Goldthwaite, TX 76844
      View Details
    • $625,000

      90-Acre Ranch Near Goldthwaite

      Versatile ranch land with water, access, and scenic views.
      621 E FM 572, Goldthwaite, TX 76844
      View Details
    • $265,968

      Mills County Acreage For Sale

      33+ acres in Mills County with utilities and convenient location.
      65 County Road 406, Goldthwaite, TX 76844
      View Details
    • $225,000

      Corner Lot Retail Building

      2080 sq ft retail building on corner lot in Goldthwaite, TX.
      705 N Commercial, Goldthwaite, TX 76844
      View Details
    • $959,000

      150 Acre Ranch Land Opportunity

      Private ranch land with water and trees near Goldthwaite, TX.
      Tbd Fm 3023 S, Goldthwaite, TX 76844
      View Details
    • $800,000

      107 Acre Ranch in Goldthwaite

      Versatile Central Texas ranch land suitable for recreation and livestock.
      198 County Road 259, Goldthwaite, TX 76844
      View Details
    • $189,900

      Central Texas Hill Country Ranch

      20.03 acre ranch with views and varied cover.
      277 N CR 505, Goldthwaite, TX 76844
      View Details
    • $1,250,000
      1,600 SF

      240-Acre Ranch with Farmhouse

      Combination ranch with farmhouse, rich in heritage and natural beauty.
      520 SH 16 N, Goldthwaite, TX 76844
      View Details

    FAQs

    What type of property is this?
    Ranch - 177+ acre ranch featuring stables, arena, and multiple water sources.
    Where is this ranch located?
    The property is located at 91 State Highway 16 S Goldthwaite, TX.
    What is the asking price?
    The asking price for this property is $1,684,274.
    What are key features of this property?
    This property features: 177+ acres of land with highway frontage on two sides (Highway 16 and FM Highway 3023).; Three ponds and a creek running through the property.; Horse facilities including 13‑stall stables, roping arena, horse walker, and round pen.
    (325) 647-1309
    We can help!
    Listing Contact
    Roy Pfingsten
    Real Estate License ID: 0516718
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    91 State Highway 16 S, Goldthwaite, TX 76844
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!