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    Hunting and Farmland Tract Title is generated by Realmo AI

    Cr 134, Old Glory, TX 79540

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    Claim this Listing
    Pending
    $399,900

    LAND - Old Glory, TX

    Lot size:
    171.00 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    37
    Last Refresh:
    Jun 5 at 9:06 am

    Property Features for Cr 134

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    4125
    Lot size
    171.00 Acres

    Taxes and HOA fees

    Tax Description
    0053 BBB&C SEC 28 .062513 % UND INT IN 171 ACRES

    We can help!

    Listing Contact
    Matthew Stovall

    Listing agent Matthew Stovall License #0737174

    Listing office Red Farm Realty LLC Ovalo, TX

    Listing date Apr 30, 2026

    MLS# 21227931 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

    • 171‑acre property with about 140 acres planted in wheat and currently leased
    • Roughly 30 acres of native mesquite providing habitat for wildlife
    • Recreational use includes hunting for turkey, deer, hogs, bobcat, and dove
    • Old 1800s home site on the property
    • Hand‑dug well on‑site (condition unknown) plus electricity available near the homesite
    • Mostly unfenced land with county road frontage on two sides for access and flexibility

    Overview

    This 171-acre tract offers a blend of cultivated production and recreational habitat. Approximately 140 acres are planted in wheat and currently leased, creating immediate income potential. The remaining acreage includes native mesquite that supports wildlife, making the property well-suited for hunting. The land also features an old 1800s home site for character and historical interest, along with a hand-dug well with condition listed as unknown. Electricity is available near the homesite, which may support future development or improvements. The property is currently used as a combination hunting and farming operation and is described as mostly unfenced.

    County road frontage on two sides provides convenient access and flexibility for how the property can be used. The game described for the property includes turkey, deer, hogs, bobcat, and dove.

    For buyers looking for a working land investment with recreational value, the existing wheat leasing and native habitat create an appealing dual-purpose profile. The partially planted configuration may support continued agricultural use while the mesquite ground lends itself to ongoing hunting. Because the listing notes the property is sold as-is and fence lines and acreage are approximate, prospective buyers should plan to verify details and conditions during due diligence.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Old Glory
    County
    Stonewall
    State
    Texas
    Longitude
    -100.143
    Latitude
    33.2666

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Income-producing wheat leases and native habitat combine for flexible farming and hunting use.
    Where is this agricultural land / farmland located?
    The property is located at Cr 134 Old Glory, TX.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: 171‑acre property with about 140 acres planted in wheat and currently leased; Roughly 30 acres of native mesquite providing habitat for wildlife; Recreational use includes hunting for turkey, deer, hogs, bobcat, and dove
    (432) 638-5716
    We can help!
    Listing Contact
    Matthew Stovall
    Real Estate License ID: 0737174
    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.

    More about this property
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