Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land Near Lake Title is generated by Realmo AI

    Shapen Springs Rd lot 134, Harper, TX 78631

    View on Map
    Claim this Listing
    For Sale
    $329,900

    LAND - Harper, TX

    Lot size:
    4.34 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    75
    Last Refresh:
    May 24 at 2:06 pm

    Property Features for Shapen Springs Rd lot 134

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    Lot size
    4.34 Acres

    Utilities

    Utilities
    Electricity Available
    Water front features
    Creek

    We can help!

    Listing Contact
    Robert Hunt

    Listing agent Robert Hunt License #0637795

    Listing office Reno Realty Group PO Box 290528, Kerrville, TX

    Listing date Mar 11, 2026

    MLS# 123725 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.

    HighLights

    • Close proximity to Lake
    • Water/creek runs through the back of the property
    • Beautiful building sites
    • Lots of mature trees
    • Easy drive to Kerrville and Harper
    • Electricity Available

    Overview

    This 4.34-acre residential lot is located near a lake, offering proximity to both Kerrville and Harper, Texas. A water creek runs through the back of the property. The land features mature trees and building sites. The property is zoned for residential use.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Harper
    County
    Gillespie
    State
    Texas
    Longitude
    -99.2255
    Latitude
    30.3145

    Nearby Similar for Sale

    • $375,000
      3,450 SF

      Remodeled Commercial Property on Highway

      Versatile commercial building in downtown Harper with excellent visibility.
      23654 W Hwy 290, Harper, TX 78631
      View Details
    • $374,000
      3,846 SF

      Highway Commercial Investment Opportunity

      Income-producing commercial property on historic Highway 290 near Fredericksburg.
      23727 W Hwy 290, Harper, TX 78631
      View Details
    • $697,000
      5,404 SF

      Harper TX Investment Opportunity

      Two unique properties with income potential on Hwy 290.
      23717 W Hwy 290, Harper, TX 78631
      View Details
    • $349,000
      1,558 SF

      Charming Farmhouse on Highway 290

      1900s farmhouse with income potential on nearly an acre.
      23699 W Hwy 290, Harper, TX 78631
      View Details
    • $375,000
      3,450 SF

      Remodeled Commercial Property in Harper,TX

      Remodeled commercial property in downtown Harper, excellent visibility and versatility.
      23654 W US Hwy 290, Harper, TX 78631
      View Details
    • $2,300,000
      6,000 SF

      Harper, TX Commercial Opportunity

      Grocery/gas/convenience store on 0.812 acres in Harper, TX.
      23682 W US Hwy 290, Harper, TX 78631
      View Details
    • $439,900
      1,380 SF

      Harper, TX: Fenced Acreage Homestead

      10-acre homestead with living quarters, workshop, and RV parking.
      200 Mosel Rd, Harper, TX 78631
      View Details
    • $785,000
      128 SF

      Texas Hill Country 52-Acre Tract

      52.35 acres in Harper, TX, ideal for recreation.
      1985 KC 443, Harper, TX 78631
      View Details
    • $275,000

      Harper, TX Land For Sale

      14 acres of land suitable for hunting or building.
      N Laird Rd. lot: 3D, Harper, TX 78631
      View Details
    • $225,000

      Harper, TX Land with Well

      10.02 acres in Texas Hill Country with water well.
      444 Mosel Rd, Harper, TX 78631
      View Details
    • $235,000

      Texas Hill Country Land Opportunity

      10+ acre tract near Fredericksburg with multiple building sites.
      Reeh Road lot: 49, Harper, TX 78631
      View Details
    • $225,000

      Harper, TX Land with Well

      10.02 acres in Texas Hill Country with water well.
      444 Mosel Rd, Harper, TX 78631
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 4.34 acre residential lot near Kerrville and Harper, TX.
    Where is this residential land & home lot located?
    The property is located at Shapen Springs Rd lot 134 Harper, TX.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Close proximity to Lake; Water/creek runs through the back of the property; Beautiful building sites
    (281) 433-5310
    We can help!
    Listing Contact
    Robert Hunt
    Real Estate License ID: 0637795
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    Shapen Springs Rd lot: 134, Harper, TX 78631
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!