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    Recreational Ranch with Spring-Fed Lake Title is generated by Realmo AI

    16602 Tx-19, Palestine, TX 75803

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    Claim this Listing
    Pending
    $1,298,000

    LAND - Palestine, TX

    Lot size:
    110.00 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    57
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 16602 Tx-19

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Perimeter, Fenced
    Standard status
    Pending
    APN
    R26951
    Lot size
    110.00 Acres

    Taxes and HOA fees

    Tax Description
    A0797 WITT, ERWIN BLOCK 1501 TRACT 11
    Tax Annual Amount
    4608

    Utilities

    Sewer type
    Aerobic Septic
    Water source
    Public
    Water front features
    Lake Front
    Water front
    1

    Building Details

    Year built
    2001
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    John Willingham

    Listing agent John Willingham License #0537765

    Listing office Clayton-Waggoner Properties Dallas, TX

    Listing date Apr 11, 2026

    MLS# 21197096 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

    • Spring‑fed 12‑acre lake kept at a near constant level, lakefront ranch with on‑site fishing and duck hunting possibilities
    • Lake amenities include a covered boat dock near the main house and a two‑slip boat house on the other side of the lake
    • 3,281‑sf main house built around a rail car (kitchen and bunk rooms) with a master suite overlooking the lake
    • 1,400‑sf, 2‑story log cabin near the ranch entrance, ready for renovation to add living space
    • 3,250‑sf barn with multiple horse stalls and storage for utility vehicles and implements
    • Municipal water and aerobic septic; ranch is ag‑exempt with 2025 taxes approximately $6,200

    Overview

    Dream Creek Ranch offers a secluded ranch setting anchored by a spring-fed lake kept near a constant level, with a covered boat dock near the main house and a two-slip boat house on the far side of the water. The ranch includes a 3,281-sf main house with lake views, featuring a distinctive build around a rail car that serves as the kitchen and bunk rooms, plus a master suite overlooking the lake and accessed via a covered breezeway. Near the main entrance, there is also a 1,400-sf, two-story log cabin ready for renovation to add additional living space. For on-site functionality, the property includes a 3,250-sf barn with multiple horse stalls and storage for utility vehicles and implements.

    Located just south of Athens, the property sits on approximately 110 acres and is supplied by municipal water with one water meter. Lake amenities and existing features support overnight and group use, while the ranch also has one producing well. The ranch is ag-exempt, and the owner notes that they do not own any of the minerals.

    This configuration fits buyers looking to operate or develop a private fishing club, family compound, corporate retreat, or weekend getaway. The mix of open pasture, wooded areas, dock infrastructure, and livestock improvements provides flexibility for recreation, hosting, and equestrian use, with the lake managed for years and positioned for strong fishing and duck hunting opportunities.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Palestine
    County
    Anderson
    State
    Texas
    Longitude
    -95.7628
    Latitude
    31.9755

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    FAQs

    What type of property is this?
    Ranch - Spring-fed lake, dock and boat house, plus ranch improvements offer strong potential for a private retreat or fishing destination.
    Where is this ranch located?
    The property is located at 16602 Tx-19 Palestine, TX.
    What is the asking price?
    The asking price for this property is $1,298,000.
    What are key features of this property?
    This property features: Spring‑fed 12‑acre lake kept at a near constant level, lakefront ranch with on‑site fishing and duck hunting possibilities; Lake amenities include a covered boat dock near the main house and a two‑slip boat house on the other side of the lake; 3,281‑sf main house built around a rail car (kitchen and bunk rooms) with a master suite overlooking the lake
    (844) 725-6247
    We can help!
    Listing Contact
    John Willingham
    Real Estate License ID: 0537765
    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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