Acreage Tract with Stock
1157 County Road 490, Princeton, TX 75407
For Sale
$285,000
Land, Princeton, TX
Property Size1,650 SF
Lot Size3.30 Acres
Price / SF$172.73
Days on Market158
Property Features for 1157 County Road 490
General Information
Property type
Property subtype
Zoning description
Exterior features
Fencing
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Building Details
Year built
Additional Structures
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Ross Kallenberg · License #0788795
(214) 202-7615
Added: Jun 3
Changed: Oct 28
Last Checked: Nov 7 at 3:06PM
MLS# 21186173
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Set on about 3.3 acres within the ETJ of Princeton, this property sits tucked off the road behind a long private drive. The land includes a stock pond and open space, along with multiple storage buildings and two large carports.
A 1987-built 3-bedroom, 2-bath home is also on site and will require some TLC, providing flexibility for a buyer who plans to renovate. The property further features a metal roof that is less than 10 years old, with a lifetime warranty.
The tract is positioned minutes from US 380 and offers convenient access to local schools, retail, dining, and Lake Lavon.
A 1987-built 3-bedroom, 2-bath home is also on site and will require some TLC, providing flexibility for a buyer who plans to renovate. The property further features a metal roof that is less than 10 years old, with a lifetime warranty.
The tract is positioned minutes from US 380 and offers convenient access to local schools, retail, dining, and Lake Lavon.
Key Highlights
- 3.3‑acre tract in the Princeton ETJ with open land and a stock pond suitable for horses or livestock
- 1987‑built 3‑bedroom, 2‑bath home with approx. 1,650 sq ft (requires some TLC)
- Less than 10 years old metal roof with lifetime warranty
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,090
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,800
$501.8K
Cap Rate 7%
$358,429
$358.4K
Cap Rate 9%
$278,778
$278.8K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$51.1K $30.96/SF
− Vacancy
−$5.5K −$3.31/SF
EGI
$45.6K $27.65/SF
− OpEx
−$20.5K −$12.44/SF
NOI
$25.1K $15.21/SF
Area
Collin County, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,800
Cap Rate 7%
$358,429
Cap Rate 9%
$278,778
Alternative Uses
Best Use
Apartment 5plus
$358.4K
$313.6K – $418.2K
NOI $25,090 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.64M
$1.43M – $1.91M
NOI $114,768 @ 7.0% cap · market cap 40.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential land & home lot - 3.3-acre tract in Princeton ETJ with a stock pond, multiple storage buildings, and a 1987-built home requiring TLC.
Where is this residential land & home lot located?
The property is located at 1157 County Road 490 Princeton, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 3.3‑acre tract in the Princeton ETJ with open land and a stock pond suitable for horses or livestock; 1987‑built 3‑bedroom, 2‑bath home with approx. 1,650 sq ft (requires some TLC); Less than 10 years old metal roof with lifetime warranty
