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    Historic Ranch in Limestone County Title is generated by Realmo AI

    Tbd County Road 646, Thornton, TX 76687

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    Claim this Listing
    For Sale
    $982,800

    Ranch, Farm/Ranch - Thornton, TX

    Type:Farm
    Property size:
    1,344 SF
    Lot size:
    117.00 Acres
    Price / SF:
    $731/SF
    Added:
    Jun 16, 2025
    Days on Market:
    339
    Last Refresh:
    May 20 at 4:06 am

    Property Features for Tbd County Road 646

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2
    Parking features
    Carport
    Interior features
    Paneling, Pantry
    Exterior features
    Rain Gutters, Stable/Barn, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    R7735
    Size
    1,344 SF
    Lot size
    117.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1982
    Floors in Building
    1
    Flooring type
    Tile, Tile - Ceramic
    Roof type
    Metal
    Architectural style
    Ranch
    Additional Structures
    Barn(s), Stable(s)

    We can help!

    Listing Contact
    Brittany Jackson
    Brittany Jackson

    Listing agent Brittany Jackson License #0750977

    Listing office Jackson Ranch & Realty LLC 404 E Yeagua St, Groesbeck, TX

    Listing date Jun 16, 2025

    MLS# 20962805 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

    • Sprawling 117‑acre ranch with no restrictions
    • Established ranch infrastructure including full fencing, cattle corral, and working pens
    • Dependable water sources with a spring‑fed stock pond
    • Furnished 2 bed‑1 bath farmhouse, ready for immediate enjoyment
    • Conveniently located in the 'Golden Triangle,' providing easy access to major cities
    • Property has been in the same family for 117+ years

    Overview

    The Erskine Ranch, a 117-acre property in Limestone County, has been in the same family for over 117 years. The ranch, accessible via two county roads and unrestricted, features a quaint and traditional 2-bed, 1-bath farmhouse. The house is furnished. The land is fully fenced and cross-fenced, suitable for rotational grazing. The property can support 45-50 head of cattle year-round due to its strong native grasses and fertilization. A cattle corral and working pens are present. Water sources include a spring-fed stock pond that maintains a constant water level. A grove of trees surrounds another pond, attracting whitetail deer and other wildlife typical of Central Texas. The property offers opportunities for horseback riding and fishing. The ranch is located less than an hour from Waco, 2 hours from Dallas, and 2.5 hours from both Austin and Houston.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Thornton
    County
    Limestone
    State
    Texas
    Longitude
    -96.6390357
    Latitude
    31.4100338

    Nearby Similar for Sale

    • $625,000
      1,834 SF

      Texas Farmhouse on Ag-Exempt Land

      Move-in ready farmhouse on 28 acres with stocked pond.
      406 N Ellis, Thornton, TX 76687
      View Details
    • $1,400,000
      1,792 SF

      Texas Ranch with Lake Access

      151.6-acre ranch featuring a stocked lake and manufactured home.
      3455 Lcr 758, Thornton, TX 76687
      View Details

    FAQs

    What type of property is this?
    Farm - 117-acre ranch with farmhouse, ponds, and abundant wildlife.
    Where is this farm located?
    The property is located at Tbd County Road 646 Thornton, TX.
    What is the asking price?
    The asking price for this property is $982,800.
    What are key features of this property?
    This property features: Sprawling 117‑acre ranch with no restrictions; Established ranch infrastructure including full fencing, cattle corral, and working pens; Dependable water sources with a spring‑fed stock pond
    (254) 652-4625
    We can help!
    Listing Contact
    Brittany Jackson
    Brittany Jackson
    Real Estate License ID: 0750977
    Learn More
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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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