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    Waterfront Lake Lot with Dock Title is generated by Realmo AI

    198 Thunderbird Drive, Mabank, TX 75156

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    Claim this Listing
    For Sale
    $299,000

    LAND - Mabank, TX

    Lot size:
    0.18 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    128
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 198 Thunderbird Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    43650000028050
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    LOT: LT 28 AB 483 B MEDRO SUR THUNDERBIRD SHO
    Tax Annual Amount
    2655

    Utilities

    Water front features
    Waterfront, Lake Front
    Water front
    1

    Building Details

    Year built
    1967

    We can help!

    Listing Contact
    Todd Cianciulli
    Todd Cianciulli

    Listing agent Todd Cianciulli License #0642936

    Listing office Rescue Real Estate Scurry, TX

    Listing date Jan 29, 2026

    MLS# 20334023 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‑front lot on Cedar Creek Lake
    • Includes a new hot‑dipped galvanized seawall (nearly $40,000)
    • Boat dock with 2 jet ski lifts included
    • Owner financing available at 5% interest with a reasonable down payment

    Overview

    Waterfront lot on Cedar Creek Lake designed for lake living, with a boat dock and two jet ski lifts already in place. The property also includes a new hot-dipped galvanized seawall, installed to support waterfront use and help protect the shoreline. Ideal for buyers looking for a deep-water setting when planning a future lake home or weekend retreat.

    Located in Mabank, Texas in Henderson County, the site offers an opportunity to build on the water with improvements that can reduce the up-front work associated with waterfront access. The lake positioning is highlighted as especially well-suited for deep-water needs.

    This property fits buyers who want to customize their own lake-house plans while starting from a site that already has key waterfront infrastructure. It may also appeal to investors or owner-users who value the convenience of an existing dock setup and seawall, and who are interested in seller-provided financing terms at a stated 5% interest rate with a reasonable down payment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Mabank
    County
    Henderson
    State
    Texas
    Longitude
    -96.140543
    Latitude
    32.318517

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    FAQs

    What type of property is this?
    Waterfront Land - Cedar Creek Lake deep-water waterfront lot featuring a new galvanized seawall and a dock with two jet-ski lifts.
    Where is this waterfront land located?
    The property is located at 198 Thunderbird Drive Mabank, TX.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Waterfront, lake‑front lot on Cedar Creek Lake; Includes a new hot‑dipped galvanized seawall (nearly $40,000); Boat dock with 2 jet ski lifts included
    (214) 335-4391
    We can help!
    Listing Contact
    Todd Cianciulli
    Todd Cianciulli
    Real Estate License ID: 0642936
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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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    198 Thunderbird Drive, Mabank, TX 75156
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