Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Fallow Dr, Unit 71 Harper, TX 78631

    View on Map
    Sponsored
    For Sale
    $189,000

    LAND - Harper, TX

    Lot size:
    5.44 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 6 at 5:06 pm

    Property Features for Fallow Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R
    Lot size
    5.44 Acres

    We can help!

    Listing Contact
    Audrey Ethridge
    Audrey Ethridge

    eXp Realty, LLC (512) 777-9581

    Listing agent Audrey Ethridge (210) 618-9425

    Listing date Feb 27, 2026

    MLS# 120333 Listing URL

    Copyright © 2026 Kerrville Board of Realtors. 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

    Texas Hill Country Land

    This 5.436-acre lot offers a level building area with mature trees in the Texas Hill Country. The property is located within a gated community that features a fishing pond, private river access, clubhouse, pool, pickleball court, basketball court, and pavilion. The land benefits from low taxes due to an Ag exemption. The listing title refers to the area as the next "Boerne."
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Harper
    County
    Gillespie
    State
    Texas
    Longitude
    -99.2442144
    Latitude
    30.2999195

    Nearby Similar for Sale

    • $425,000
      1,388 SF

      Harper Retreat on Scenic Acres

      Scenic 10.3-acre Harper retreat with live creek frontage.
      166 Dittmar Creek Rd, Harper, TX 78631
      View Details
    • $375,000
      3,450 SF

      Remodeled Commercial Property on Highway

      Versatile commercial building in downtown Harper with excellent visibility.
      23654 Us Highway 290 W, Harper, TX 78631
      View Details
    • $375,000
      0.24 Acres

      Remodeled Commercial Property in Harper, TX

      Remodeled commercial property on a corner lot in downtown Harper.
      23654 W Us Highway 290, Harper, TX 78631
      View Details
    • $524,900
      25.00 Acres

      Texas Hill Country Retreat

      25-acre retreat with views, home, and amenities in Harper.
      22874 Ranch Road 385, Harper, TX 78631
      View Details
    • $323,000
      18.40 Acres

      Harper, TX Acreage For Sale

      18.41 acre gated, ag-exempt property near Harper, Texas.
      15 -- Legacy Oaks Dr, Harper, TX 78631
      View Details
    • $890,000
      128.75 Acres

      Gillespie County Ranch Land

      128.75 acre ranch in western Gillespie County, Texas.
      0 -- Jung Rd, Harper, TX 78631
      View Details
    • $1,450,000
      109.73 Acres

      Turn-Key Ranch with Historic Home

      Ranch property with two homes, outbuildings, and agricultural potential.
      315 Rieger Rd, Harper, TX 78631
      View Details
    • $449,000
      29.00 Acres

      Texas Hill Country Ranch Land

      29 acres in the heart of Texas Hill Country.
      10-11 S Ranch Road 783, Harper, TX 78631
      View Details
    • $3,973,000
      137.99 Acres

      Texas Hill Country Ranch Land

      137+ acre ranch property with hilltop views and spring-fed creeks.
      481 -- Living Water Rnch Rd, Harper, TX 78631
      View Details
    • $1,750,000
      637 SF

      Hill Country Ranch on Pedernales River

      72.42 acre ranch with river frontage and cabin.
      19415 -- Fm 2093, Harper, TX 78624
      View Details
    • $1,695,000
      157.00 Acres

      Harper TX Ranch Land Opportunity

      157-acre ranch near Harper, TX, with home and potential.
      18043 -- Fm 479, Harper, TX 78631
      View Details
    • $2,300,000
      0.81 Acres

      Harper, TX Grocery/Gas Store

      Longtime Harper grocery and gas business opportunity on 0.812 acres.
      23682 W Us Highway 290, Harper, TX 78631
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 5.4 acre lot in the Texas Hill Country.
    Where is this residential land & home lot located?
    The property is located at Fallow Dr, Unit 71 Harper, TX.
    What is the asking price?
    The asking price for this property is $189,000.
    What are key features of this property?
    This property features: - 5.4 acre level lot in the Texas Hill Country; - Gated community with private river access; - Low property taxes with Ag exemption
    (210) 618-9425
    Request Owner's contact information
    Fallow Dr, Unit 71 Harper, TX 78631
    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.
    Fallow Dr, Unit 71
    Harper, TX 78631
    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
    Fallow Dr, Unit 71 Harper, TX 78631
    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

    We can help!
    Listing Contact
    Audrey Ethridge
    Audrey Ethridge
    Real Estate License ID: TREC 0555282
    (210) 618-9425 (888) 519-7431 (972) 387-0300
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!