Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Ranch Land with Dual Access Title is generated by Realmo AI

    11 County Road 191, Mullin, TX 76864

    View on Map
    Claim this Listing
    For Sale
    $899,000

    LAND - Mullin, TX

    Lot size:
    104.00 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    149
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 11 County Road 191

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000004871
    Lot size
    104.00 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 154.160 NACOGDOCHES UNIVERSITY ABST-51
    Tax Annual Amount
    423

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Morris Joseph

    Listing agent Morris Joseph License #0483513

    Listing office On Air Realty Hutto, TX

    Listing date Jan 6, 2026

    MLS# 21144204 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

    • 104+/- acre Mullin, Texas ranch with dual road frontage from Hwy 84 and CR 191
    • Gated private entrance off CR 191 plus access also from Hwy 84
    • Two water wells and a newly constructed stock tank
    • Established homesite with electricity and an existing septic system (buyer to verify condition)
    • Property perimeter fencing and cleared terrain
    • Owner willing to subdivide; mobile home restriction in place

    Overview

    This improved ranch offering features freshly cleared terrain and a turnkey package built for immediate use. Improvements include two water wells, a newly constructed stock tank, and new perimeter fencing. An established homesite is already in place with electricity and an existing septic system, with condition to be verified by the buyer. The property also benefits from a mobile home restriction in place, providing clearer development expectations.

    Access is thoughtfully designed with dual road frontage. Entry is available from Highway 84 and also through a gated, private entrance off County Road 191, creating a balance of convenience and seclusion. Located just 5 minutes from Zephyr, the ranch offers wide-open space while remaining practical to reach.

    The configuration makes this land well-suited for buyers looking to build a primary residence or a weekend retreat, with essential utilities already present at the homesite. For agricultural-minded operators, the cleared layout, fencing, and water infrastructure support grazing and basic livestock use. The owner is also willing to subdivide, which may appeal to buyers seeking flexibility for future planning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Building Supply Spa & Massage Center Hair Salon Nail Salon Hotel & Motel Furniture & Home Goods Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Mullin
    County
    Mills
    State
    Texas
    Longitude
    -98.7032
    Latitude
    31.5711

    Nearby Similar for Sale

    • $345,000

      Riverfront Event & Camp Land

      A Hill Country riverfront parcel with event space and diversified camping options for lodging and gatherings.
      441 CR 433, Mullin, TX 76864
      View Details
    • $633,872

      Turnkey Hunting Ranch with Shop

      Fully fenced, Ag-exempt acreage with utilities, a metal shop, and ready-to-use features for recreation and livestock use.
      163 S FM 573, Mullin, TX 76864
      View Details
    • $1,998,900

      Mullin, TX Hunting and Recreational Ranch

      Premier hunting and recreational ranch property with diverse habitat and improvements.
      180 CR 531, Mullin, TX 76844
      View Details
    • $1,120,000

      Mullins, TX Vacant Land

      158 acre vacant land with tanks and abundant wildlife.
      356 County Road 132, Mullins, TX 76864
      View Details
    • $175,000

      Waterfront Recreational Land

      Enjoy over 650 feet of Colorado River frontage with on-site utilities for a private recreation or home site.
      402 S CR 433, Mullin, TX 76864
      View Details
    • $720,000

      Mullin, TX Vacant Land

      100 acres of pasture and wooded land near Priddy, TX.
      37 County Road 134, Mullin, TX 76864
      View Details
    • $1,199,000

      Recreational Ranch Land with Oak Cover

      155-acre fenced ranch with mature oak trees, hunting habitat, and home-site potential off Hwy 84.
      1868 Hwy 84 W, Mullin, TX 76864
      View Details
    • $390,000

      Wooded Hunting Land Tract

      A 53.97-acre wooded tract with mature oaks, abundant wildlife, and electric available near a paved highway access point.
      109 County Rd 530, Mullin, TX 76864
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 104+/- acres ready for a homesite or grazing, with wells, a new stock tank, fencing, and dual road frontage.
    Where is this agricultural land / farmland located?
    The property is located at 11 County Road 191 Mullin, TX.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 104+/- acre Mullin, Texas ranch with dual road frontage from Hwy 84 and CR 191; Gated private entrance off CR 191 plus access also from Hwy 84; Two water wells and a newly constructed stock tank
    (512) 310-8080
    We can help!
    Listing Contact
    Morris Joseph
    Real Estate License ID: 0483513
    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
    11 County Road 191, Mullin, TX 76864
    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!