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    Lake-View Cul-de-Sac Land Lot Title is generated by Realmo AI

    Caprock Court lot 615, Graford, TX 76449

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    For Sale
    $72,000

    LAND - Possum Kingdom Lake, TX

    Lot size:
    2.02 Acres
    Added:
    Mar 2, 2026
    Days on Market:
    95
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for Caprock Court lot 615

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    35440
    Lot size
    2.02 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 2.020 LOT: 00615 HILLS ABOVE POSSUM KI
    Tax Annual Amount
    474

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Sabrina Sparkman

    Listing agent Sabrina Sparkman License #0650731

    Listing office Coldwell Banker Realty Flower Mound, TX

    Listing date Mar 2, 2026

    MLS# 21194213 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

    • Approximately 2‑acre cul‑de‑sac lot in The Hills with ridgetop positioning and lake views
    • Established oak trees and prominent rock formations on the property
    • Level building area; views of surrounding hills and valleys
    • Utilities: septic tank (sewer)
    • Community amenities include clubhouse, infinity swimming pool, and fitness center
    • Community includes lake cabin, boat dock, and boat launch; builder requirements include minimum 2,500 SF and no manufactured or metal homes, and no RV parking during construction

    Overview

    Set on a ridgetop cul-de-sac, this 2.02-acre lot offers stunning lake views supported by established oak trees and dramatic rock formations. The terrain is described as level for building, with sweeping views of surrounding hills and valleys. There’s a clear build path with community expectations designed to protect the quality of development, including a minimum 2,500-square-foot build requirement.

    Owners will have access to upscale community amenities, including a clubhouse with an infinity swimming pool, a fitness center with commercial-grade equipment, a lake cabin, and facilities supporting water recreation such as a boat dock and boat launch.

    This property is well suited for buyers planning a custom, site-built home that can take advantage of the panoramic setting. The community restrictions exclude manufactured homes and metal homes like barndominiums, and RVs cannot be parked on the lot during construction. If you’re looking for a destination-lake lifestyle in a character-rich setting, the combination of views, build-ready conditions, and full amenity access makes this lot a compelling foundation for your plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.2671
    Latitude
    32.9289

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    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready cul-de-sac lot with established oak trees, level building area, and expansive lake views.
    Where is this residential land & home lot located?
    The property is located at Caprock Court lot 615 Graford, TX.
    What is the asking price?
    The asking price for this property is $72,000.
    What are key features of this property?
    This property features: Approximately 2‑acre cul‑de‑sac lot in The Hills with ridgetop positioning and lake views; Established oak trees and prominent rock formations on the property; Level building area; views of surrounding hills and valleys
    (972) 691-7580
    We can help!
    Listing Contact
    Sabrina Sparkman
    Real Estate License ID: 0650731
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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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    Caprock Court lot: 615, Possum Kingdom Lake, TX 76449
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