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    Agricultural Land with Horse Facilities Title is generated by Realmo AI

    1528 CR 697, Farmersville, TX 75442

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    Claim this Listing
    For Sale
    $495,000

    LAND - Farmersville, TX

    Property size:
    2,128 SF
    Lot size:
    12.03 Acres
    Price / SF:
    $232/SF
    Added:
    May 5, 2026
    Days on Market:
    31
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 1528 CR 697

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Wooded, Grassed
    Fencing
    Fenced, Gate
    Standard status
    Active
    APN
    2133103
    Lot size
    12.03 Acres

    Taxes and HOA fees

    Tax Description
    ABS A0174 E G CATES SURVEY, TRACT 15, 9.99 AC
    Tax Annual Amount
    1626

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Additional Structures
    Arena

    We can help!

    Listing Contact
    Bonnie Hunt
    Bonnie Hunt

    Listing agent Bonnie Hunt License #0739719

    Listing office Texan Team Celeste, TX

    Listing date May 5, 2026

    MLS# 20977975 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

    • Three adjacent parcels totaling 12.03 acres in Farmersville, TX (no deed restrictions reported)
    • Two front tracts offer ~225 ft of frontage on County Road 697, plus a third ~10‑acre tract with residence and improvements
    • Move‑in ready 2001 Fleetwood Waverly Crest doublewide manufactured home (recognized as real property), 4 bed / 3 bath, 2,128 sq ft
    • Fenced and cross‑fenced pasture, pipe‑fenced riding arena with elevated spectator stand, and a barn with workshop
    • Utilities include electric central heat and central air; sewer is aerobic septic
    • Open pasture in front with gently wooded acreage in the rear, including Cowskin Creek

    Overview

    Three adjacent parcels totaling 12.03 acres are offered with no deed restrictions, making the property well suited for owner-use or income potential. Two front tracts each provide approximately 1 acre with about 225 feet of frontage on County Road 697, and a third larger tract of roughly 10 acres includes a residence and improvements. Horse facilities are a key feature, including fenced and cross-fenced pasture, a pipe-fenced riding arena with an elevated spectator stand, and a barn with workshop space for equipment and storage.

    The site is located in a prime Farmersville, Texas area. It is approximately 1.5 miles south of State Highway 380 and near the proposed Collin County Outer Loop, with Josephine about 4 miles to the south. A new survey is available, and the land includes open pasture in front with gently wooded acreage to the rear, including Cowskin Creek.

    The combination of land, utilities, and equestrian improvements supports multiple buyer strategies. Buyers looking for a dedicated horse property will find the existing layout and fencing practical, while others may value the move-in-ready 2,128-square-foot, 4-bedroom, 3-bath doublewide manufactured home as either a primary residence or a rental source. Buyer should verify all information, including boundary lines and intended use.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Restaurant Grocery & Convenience Store Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmersville
    County
    Collin
    State
    Texas
    Longitude
    -96.3189891
    Latitude
    33.1333545

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    FAQs

    What type of property is this?
    Horse & equestrian property - 12.03-acre property with fenced pasture, a riding arena, and a move-in-ready manufactured home for flexible horse or rental use.
    Where is this horse & equestrian property located?
    The property is located at 1528 CR 697 Farmersville, TX.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Three adjacent parcels totaling 12.03 acres in Farmersville, TX (no deed restrictions reported); Two front tracts offer ~225 ft of frontage on County Road 697, plus a third ~10‑acre tract with residence and improvements; Move‑in ready 2001 Fleetwood Waverly Crest doublewide manufactured home (recognized as real property), 4 bed / 3 bath, 2,128 sq ft
    (903) 222-3478
    We can help!
    Listing Contact
    Bonnie Hunt
    Bonnie Hunt
    Real Estate License ID: 0739719
    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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