Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Texas Hill Country Recreational Land Title is generated by Realmo AI

    20 Winchester, Leakey, TX 78873

    View on Map
    Claim this Listing
    For Sale
    $429,300

    LAND - Leakey, TX

    Lot size:
    28.62 Acres
    Added:
    Feb 4, 2026
    Days on Market:
    103
    Last Refresh:
    May 18 at 7:06 pm

    Property Features for 20 Winchester

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    2993
    Lot size
    28.62 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Rancho Real Unit Three # 12 28.6200

    We can help!

    Listing Contact
    Mercy Boatright-Wood
    Mercy Boatright-Wood

    Listing agent Mercy Boatright-Wood License #0664316

    Listing office House Hunters NB 566 Willow Avenue, New Braunfels, TX

    Listing date Feb 4, 2026

    MLS# 603650 Listing URL

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Owner financing available
    • Expansive 28.62‑acre property in the Texas Hill Country
    • Breathtaking panoramic views
    • Minutes from Leakey, TX with local amenities
    • Access to the Frio River for swimming and recreation
    • Year‑round hunting with exotic game

    Overview

    This expansive 28.62-acre property in the Texas Hill Country offers panoramic views and potential for building a private retreat or recreational getaway. Located minutes from the town of Leakey, the property provides convenient access to local restaurants, shopping, and small-town amenities. The Frio River, a destination for swimming and tubing, is nearby. The property allows year-round hunting due to the presence of exotic game, making it suitable for sportsmen and outdoor enthusiasts. Owner financing is available.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Leakey
    County
    Real
    State
    Texas
    Longitude
    -99.7915
    Latitude
    29.8734

    Nearby Similar for Sale

    • $179,900
      252 SF

      Commercial Lot with Highway Frontage

      Half-acre lot with US-83 frontage and city water.
      1272 S Hwy 83, Leakey, TX 78873
      View Details
    • $90,000

      Heavily Wooded Leakey Land

      Huntable 10.37 acre tract with cabin and views.
      11586 Ranch Rd 336, Leakey, TX 78873
      View Details
    • $400,000

      Leakey, TX Land with Utilities

      2.16 acres in Twin Forks with Frio River access.
      101 Patterson Rd, Leakey, TX 78873
      View Details
    • $795,500

      Unrestricted Land Near Frio River

      48 acres of unrestricted land near the Frio River.
      Little Dry Frio, Leakey, TX 78873
      View Details
    • $129,000

      Scenic Lot in Twin Forks

      Treed lot near Frio River in gated community.
      140 Spring Branch Dr., Leakey, TX 78873
      View Details
    • $149,900

      Leakey, TX Residential Land

      Spacious lot in Twin Forks Subdivision near Frio River.
      Leinweber Dr., Leakey, TX 78873
      View Details
    • $89,900

      Land with Breathtaking Frio Canyon Views

      2.7 acres near Frio River with stunning views.
      137 Middle Rd, Leakey, TX 78873
      View Details
    • $429,300

      Texas Hill Country Land

      28.62 acres with panoramic views near Frio River.
      20 Winchester, Leakey, TX 78873
      View Details
    • $225,000

      Unrestricted Hill Country Land

      11.5 acres near Frio River and Garner State Park.
      Little Dry Frio RD, Leakey, TX 78873
      View Details
    • $2,995,000

      Unique Ranch in Frio Canyon

      Hill Country ranch with live water creek and amenities.
      Hwy 83, Leakey, TX 78873
      View Details
    • $215,000

      Large Lot in River Tree

      14-acre lot with amenities near Frio River.
      254 Possum Haw Holly Trail, Leakey, TX 78873
      View Details
    • $197,000

      Frio Riverfront Land in Leakey

      Riverfront lot with utilities and management services near Leakey, TX.
      440 Red Wright Rd, Leakey, TX 78873
      View Details

    FAQs

    What type of property is this?
    Recreation land - 28.62 acres near Frio River, ideal for recreation.
    Where is this recreation land located?
    The property is located at 20 Winchester Leakey, TX.
    What is the asking price?
    The asking price for this property is $429,300.
    What are key features of this property?
    This property features: Owner financing available; Expansive 28.62‑acre property in the Texas Hill Country; Breathtaking panoramic views
    (830) 312-9289
    We can help!
    Listing Contact
    Mercy Boatright-Wood
    Mercy Boatright-Wood
    Real Estate License ID: 0664316
    Learn More
    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
    20 Winchester, Leakey, TX 78873
    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!