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    Tbd County Rd 403 Stephenville, TX 76401

    Sponsored
    For Sale
    Under Contract
    $2,700,000

    Ranch - Stephenville, TX

    Type:Ranch
    Lot size:
    298.00 Acres
    Days on Market:
    24
    Last Refresh:
    Feb 24 at 4:06 am

    Property Features for Tbd County Rd 403

    General Information

    Property type
    Land
    Property subtype
    Ranch
    Standard status
    Active Under Contract
    APN
    R000060593
    Exterior features
    Fence
    Fencing
    Fenced
    Lot size
    298.00 Acres

    Utilities

    Water front features
    Creek

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Eric Walsh

    Compass RE Texas, LCC (214) 814-8100

    Listing agent Eric Walsh (214) 814-8100 License #0549435

    Listing date Feb 1, 2026

    MLS# 21122270 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.

    Learn more

    Property Insight Report

    Overview

    Erath County Ranchland Opportunity

    Located 70 miles from Downtown Fort Worth and 10 miles northwest of Stephenville, this ranch in Erath County offers productive grazing land, diverse wildlife habitat, and Texas scenery. The property has approximately 380 feet of frontage on County Road 403 and 4,600 feet along County Road 406, providing access with gated entry points. The ranch is fully fenced with 5 and 6-strand barbed wire fencing and divided into two primary grazing pastures. Cattlemen will find working pens, improved pasture planted in Klein grass, two stock ponds, and a seasonal creek. Key improvements include electricity available in multiple locations, as well as a three-plus acre soft turnout paddock from the working pens. A water well with a TPD of 120 feet is centrally located, producing 20 gpm. The land offers open pastures and areas of hardwoods and native brush that create cover for wildlife including whitetail deer, turkey, dove, ducks, and feral hog. The ranch delivers views and building site options. Hardwoods include post oak, blackjack oak, live oak, cedar elm, mesquite and limited juniper and cacti. Native grasses abound. This ranch is rectangular in shape and suitable for recreational enjoyment and cattle use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.3691622
    Latitude
    32.30631591

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    FAQs

    What type of property is this?
    Ranch - 298-acre ranch featuring grazing land, wildlife habitat, and scenic views.
    Where is this ranch located?
    The property is located at Tbd County Rd 403 Stephenville, TX.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: - Balanced ranch land perfect for cattle grazing and recreational activities with abundant wildlife.; - Excellent accessibility with extensive frontage on two county roads and multiple gated entry points.; - Reliable water source: centrally located water well producing 20 gpm.
    (214) 814-8100
    Request Owner's contact information
    Tbd County Rd 403 Stephenville, TX 76401
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    Stephenville, TX 76401
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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
    Tbd County Rd 403 Stephenville, TX 76401
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    We can help!
    Listing Contact
    Eric Walsh
    Real Estate License ID: 0549435
    (214) 814-8100 (817) 312-9586
    Learn more
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