Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Lot in Gated Community Title is generated by Realmo AI

    Tbd Lot 1038 Oak Point Drive, May, TX 76857

    View on Map
    Claim this Listing
    For Sale
    $75,000

    Unimproved Land - May, TX

    Type:Unimproved Land
    Lot size:
    0.53 Acres
    Added:
    May 4, 2026
    Days on Market:
    25
    Last Refresh:
    May 28 at 5:06 am

    Property Features for Tbd Lot 1038 Oak Point Drive

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    000000076337
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Expense value
    400
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Water front features
    Lake Front – Main Body, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Hunter Shearin

    Listing agent Hunter Shearin License #0830979

    Listing office Turnkey Realty LLC 113 Baker St, Odessa, TX

    Listing date May 4, 2026

    MLS# 21215763 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

    • Waterfront lake lot on the Main Body
    • Located in a gated community for added security and exclusivity
    • Over half an acre, offering ample space
    • Ready to build your dream home
    • Enjoy private swimming areas
    • Boat ramps available for lake access

    Overview

    This is a waterfront lake lot, just over half an acre, ready for building a dream home. The property is located in a gated community that offers amenities such as private swimming areas and boat ramps. The area features wildlife, providing a peaceful living environment. The surroundings offer an escape. This lot presents an opportunity to build a retreat for relaxation and enjoying nature.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    May
    County
    Brown
    State
    Texas
    Longitude
    -99.007186
    Latitude
    31.876425

    Nearby Similar for Sale

    • $2,400,000
      3,068 SF

      Custom Home on 146 Acres

      Custom stone home with barndo, shop, and abundant wildlife.
      12300 County Road 367, May, TX 76857
      View Details
    • $1,489,000
      1,320 SF

      Texas Ranch with Hunting Potential

      153.74-acre ranch blending agriculture and recreation near Lake Brownwood.
      14725 Highway 183 N, May, TX 76857
      View Details
    • $1,489,000
      1,320 SF

      Turn-Key Ranch in Brown County

      153.742-acre ranch ideal for cattle and hunting.
      14725 Highway 183 N, May, TX 76857
      View Details
    • $439,900
      2,280 SF

      Texas Ranch with Comfortable Home

      10-acre ranch near Brownwood with updated 2,280 sq ft home.
      4730 Fm 1467, May, TX 76857
      View Details
    • $165,000

      Lake Brownwood Turnkey Retreat

      Move-in ready lakefront property with two travel trailers and amenities.
      4110 Cherokee Drive, May, TX 76857
      View Details
    • $215,000
      1,250 SF

      Lake Brownwood Land with Building

      Four lots with metal building near Lake Brownwood.
      4411 And 4441 Pawnee Drive, May, TX 76857
      View Details
    • $950,000
      2,266 SF

      Texas Countryside Sanctuary with Modern Farmhouse

      36.59 acre property featuring a spacious home and abundant wildlife.
      11253 County Rd 525, May, TX 76857
      View Details
    • $399,000

      49.38 Acres Versatile Land

      49.38 acres suitable for homestead, agriculture, hunting, and recreation.
      2051 E Fm 583, May, TX 76857
      View Details
    • $195,000

      Lake Property with RV Parking

      Turnkey lake property with RV parking and included camper.
      Tbd Lots 1431-1433 Lake Front Circle, May, TX 76857
      View Details
    • $429,900

      Secluded Land Near Lake Brownwood

      70 acres of wooded, fenced land near Lake Brownwood.
      1400 E Fm 2273, May, TX 76857
      View Details
    • $325,000

      Versatile Land in Brown County

      52.66 acres ideal for hunting, recreation, or off-grid living.
      22393 County Road 489, May, TX 76801
      View Details
    • $19,000

      Tree-Covered Lots Near Lake Brownwood

      Two lots near Lake Brownwood with RV-boat cover.
      3176 Surfside Drive, May, TX 76857
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lake lot in May, Texas, ready for building.
    Where is this waterfront land located?
    The property is located at Tbd Lot 1038 Oak Point Drive May, TX.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Waterfront lake lot on the Main Body; Located in a gated community for added security and exclusivity; Over half an acre, offering ample space
    (325) 430-2411
    We can help!
    Listing Contact
    Hunter Shearin
    Real Estate License ID: 0830979
    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
    Tbd Lot 1038 Oak Point Drive, May, TX 76857
    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!