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    Multi-Unit Live-Work Property Title is generated by Realmo AI

    20531 S Farm-Market 4, Lipan, TX 76462

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    For Sale
    $544,995

    SINGLE_FAMILY - Lipan, TX

    Type:Office
    Property size:
    4,175 SF
    Lot size:
    3.44 Acres
    Price / SF:
    $130/SF
    Added:
    Apr 10, 2026
    Days on Market:
    57
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 20531 S Farm-Market 4

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Covered, Driveway, Secured, RV, Carport
    Standard status
    Active
    APN
    5139
    Lot size
    3.44 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Ceiling Fan(s), Wall Unit(s)
    Water source
    Well

    Building Details

    Year built
    2012
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Laminate, Concrete
    Building materials
    SteelSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Levi Gutierrez

    Listing agent Levi Gutierrez

    Listing office Maverick Land Group, LLC Weatherford, TX

    Listing date Apr 10, 2026

    MLS# 21209527

    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

    • 3.44‑acre multi‑structure property built in 2012 with a primary residence, second residence, and 144‑SF cottage
    • Primary residence is about 1,991 SF with 2 bedrooms, 2 bathrooms, large game room, utility room, and covered carport/patio
    • Second residence is about 840 SF with 2 bedrooms, 1 bathroom, full kitchen, utility room, outdoor shower, and covered porches
    • Includes a 30x40 foam‑insulated shop with a 20x15 office and bathroom, plus covered parking with carport and driveway
    • Utilities: co‑op water servicing one residence and a private well servicing the second residence; septic tank sewer
    • Metal roof; central heating and central A/C with ceiling fans and wall unit cooling; laminate and concrete flooring

    Overview

    This multi-unit live-work property is set on 3.44 well-maintained acres and includes multiple income-capable structures. The primary residence offers approximately 1,991 square feet with two bedrooms, two bathrooms, a spacious living area, a utility room, and a large game room, plus a covered carport and patio. A second residence totals approximately 840 square feet and features two bedrooms, one bathroom, a full kitchen, living room, utility room, outdoor shower, and covered porches. An additional 144-square-foot cottage provides flexible space that may be used as a guest suite, office, studio, or additional short-term rental. Supporting the setup is a 30-by-40 foam-insulated shop with a 20-by-15 office and bathroom, suitable for workshop, storage, or commercial service use.

    Located just outside city limits in the Santo area, the property offers a rural setting while remaining within convenient reach of Stephenville, Granbury, Mineral Wells, and Gordon. Utilities include co-op water servicing one residence and a private water well servicing the second residence, offering operational flexibility for mixed-use occupancy.

    With multiple separate dwelling options and dedicated shop space, the property can fit investors seeking several revenue streams, entrepreneurs looking to operate from an on-site facility, or buyers interested in a combined live-and-work arrangement. Its mix of residential, guest-style flexibility, and purpose-built workspace supports a range of long-term rental and short-term lodging strategies.
    Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Lipan
    County
    Hood
    State
    Texas
    Longitude
    -97.9643
    Latitude
    32.5012

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    FAQs

    What type of property is this?
    Single family property - Versatile investment with multiple residences, guest options, and a foam-insulated shop with office and bathroom for business use.
    Where is this single family property located?
    The property is located at 20531 S Farm-Market 4 Lipan, TX.
    What is the asking price?
    The asking price for this property is $544,995.
    What are key features of this property?
    This property features: 3.44‑acre multi‑structure property built in 2012 with a primary residence, second residence, and 144‑SF cottage; Primary residence is about 1,991 SF with 2 bedrooms, 2 bathrooms, large game room, utility room, and covered carport/patio; Second residence is about 840 SF with 2 bedrooms, 1 bathroom, full kitchen, utility room, outdoor shower, and covered porches
    (830) 591-9840
    We can help!
    Listing Contact
    Levi Gutierrez
    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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