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    Waterfront Land in Gated Community Title is generated by Realmo AI

    Peninsula Road lot 117 & 118, Kerens, TX 75144

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    Claim this Listing
    For Sale
    $178,900

    LAND - Kerens, TX

    Lot size:
    0.19 Acres
    Added:
    May 19, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for Peninsula Road lot 117 & 118

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    RV
    Standard status
    Active
    APN
    111837
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    P0220 PENINSULA POINT AT RC BLK 1 LOT 117&118
    Tax Annual Amount
    1954

    Utilities

    Sewer type
    Private Sewer
    Water front features
    Waterfront, Lake Front
    Water front
    1

    Building Details

    Additional Structures
    Storage

    We can help!

    Listing Contact
    Dana Reamy
    Dana Reamy

    Listing agent Dana Reamy License #0612827

    Listing office Keller Williams Realty Waxahachie, TX

    Listing date May 19, 2026

    MLS# 21214101 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

    • Two side‑by‑side lots (Lots 117 & 118) on Richland Chambers Lake in the gated Peninsula Point community
    • Waterfront lots with lakefront/open water views
    • RV/tiny home community with RV parking (RV) and private sewer system (private sewer)
    • Community amenities include pool, outdoor clubhouse, grilling areas, laundry facilities, private boat ramp, and boat storage
    • HOA maintains the lots and supports a low‑maintenance, lock‑and‑leave lifestyle
    • Short‑term rentals allowed; lots can be separated and sold individually

    Overview

    This offering combines two side-by-side lots, 117 and 118, located on a peninsula within the gated Peninsula Point community on Richland Chambers Lake. The properties present a blank canvas for an RV and/or tiny home setup, including the appeal of being next to each other while still maintaining separate space for families, friends, or guests.

    Peninsula Point is positioned as a luxury RV and tiny home environment and includes owner-focused amenities designed to support lake living. The community features a pool, outdoor clubhouse, grilling areas, laundry facilities, a private boat ramp, and boat storage. Additional shared spaces include a playground and dog park, supporting a broader mix of lifestyle needs. The HOA maintains the lots, supporting a low-maintenance, lock-and-leave experience, and short-term rentals are allowed for added flexibility.

    With waterfront positioning on the peninsula and the option to keep the lots together or separate them for individual sale, this land package may fit buyers looking for a shared lake retreat, a multi-family getaway, or an investment opportunity within an established lake community. Access requires contacting the listing agent or using the broker bay.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Kerens
    County
    Navarro
    State
    Texas
    Longitude
    -96.199
    Latitude
    32.1018

    Nearby Similar for Sale

    • $125,000

      Turnkey Waterfront RV Lot

      Turnkey waterfront RV lot with a concrete pad, water stairs, and installed utilities in a gated Peninsula Point community.
      6454 Peninsula Road, Kerens, TX 75144
      View Details
    • $199,000

      Turnkey Lakefront Land Retreat

      Lakefront lot in a gated community with onsite concrete pad and RV included for immediate weekend use.
      Peninsula Road lot: 68, Kerens, TX 75144
      View Details
    • $100,000

      Cleared Homesite with Mature Trees

      A 6-acre cleared tract with mature trees, offering a private setting for a custom home or recreational retreat.
      12631 County Road 3270, Kerens, TX 75144
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Side-by-side peninsula lots with open water views in a gated RV and tiny home community on Richland Chambers Lake.
    Where is this waterfront land located?
    The property is located at Peninsula Road lot 117 & 118 Kerens, TX.
    What is the asking price?
    The asking price for this property is $178,900.
    What are key features of this property?
    This property features: Two side‑by‑side lots (Lots 117 & 118) on Richland Chambers Lake in the gated Peninsula Point community; Waterfront lots with lakefront/open water views; RV/tiny home community with RV parking (RV) and private sewer system (private sewer)
    (972) 935-5251
    We can help!
    Listing Contact
    Dana Reamy
    Dana Reamy
    Real Estate License ID: 0612827
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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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