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    Cleared Side-by-Side Waterfront Lots Title is generated by Realmo AI

    Loon Bay Drive lot 39, Gun Barrel City, TX 75156

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    Claim this Listing
    For Sale
    $40,000

    LAND - Gun Barrel City, TX

    Lot size:
    0.12 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    78
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for Loon Bay Drive lot 39

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed
    Standard status
    Active
    APN
    33850000039053
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Description
    LT 39 AB 742 J SMITH SUR, LOON BAY LT 39, 5/1
    Tax Annual Amount
    209

    We can help!

    Listing Contact
    Jill Sparling
    Jill Sparling

    Listing agent Jill Sparling License #0546519

    Listing office KW-Cedar Creek Lake Properties Rockwall, TX

    Listing date Mar 20, 2026

    MLS# 21213406 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

    • Four side‑by‑side cleared and level lots in the Loon Bay subdivision, Gun Barrel City
    • Convenient access to shopping and entertainment in a waterfront community
    • Mabank Independent School District
    • Near two private POA parks: one for swimming and one for boat launching

    Overview

    Offered for sale as one or more of four side-by-side lots, this cleared and level land parcel set is ready for a future build. The lots are situated in the Loon Bay subdivision, providing a straightforward opportunity for buyers seeking a buildable site in a waterfront community.

    Residents have access to two exclusive private POA parks described with swimming amenities and a separate park for boat launching, supporting a lake lifestyle from day one. The property is located within the Mabank Independent School District, noted in the remarks for strong educational and athletic programs. Additional context provided is convenient access to shopping and entertainment in Gun Barrel City, along with an estimated one-hour commute to Dallas and Tyler.

    This configuration can suit a range of buyers, from someone looking to secure one lot for a primary residence to others interested in combining multiple adjacent sites for a larger build plan. With the land already cleared and level, it may appeal to lakehouse buyers who want to move efficiently from acquisition to design and permitting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Gun Barrel City
    County
    Henderson
    State
    Texas
    Longitude
    -96.1581315
    Latitude
    32.3317503

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    FAQs

    What type of property is this?
    Waterfront Land - Four cleared, level lots in Loon Bay offer waterfront amenities and flexibility to build a personal lake-focused home.
    Where is this waterfront land located?
    The property is located at Loon Bay Drive lot 39 Gun Barrel City, TX.
    What is the asking price?
    The asking price for this property is $40,000.
    What are key features of this property?
    This property features: Four side‑by‑side cleared and level lots in the Loon Bay subdivision, Gun Barrel City; Convenient access to shopping and entertainment in a waterfront community; Mabank Independent School District
    (972) 772-7000
    We can help!
    Listing Contact
    Jill Sparling
    Jill Sparling
    Real Estate License ID: 0546519
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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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