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    20531 S Farm to Market 4, Lipan, TX 76462

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    For Sale
    $544,995

    MULTI_FAMILY - Lipan, TX

    Property size:
    2,975 SF
    Lot size:
    3.44 Acres
    Price / SF:
    $183/SF
    Added:
    Apr 14, 2026
    Days on Market:
    53
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 20531 S Farm to Market 4

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking
    4
    Parking features
    Covered, RV, Carport, Secured, Driveway
    Interior features
    CathedralCeilings, EatInKitchen, HighSpeedInternet, InLawFloorplan, OpenFloorplan
    Exterior features
    OutdoorShower, PrivateEntrance, RainGutters, RvHookup, Storage
    Fencing
    Fenced, Perimeter
    Appliances
    SomeGasAppliances, Dishwasher, ElectricRange, ElectricWaterHeater, GasRange, Microwave, PlumbedForGas
    Standard status
    Active
    APN
    5139
    Lot size
    3.44 Acres

    Utilities

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

    Building Details

    Year built
    2012
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate, Concrete
    Building materials
    Concrete, SteelSiding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Levi Gutierrez

    Listing agent Levi Gutierrez

    Listing office Maverick Land Group, LLC Weatherford, TX

    Listing date Apr 14, 2026

    MLS# 21209483 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

    • 3.44‑acre Santo ISD property with multiple homes plus a 30x40 foam‑insulated shop
    • Main home: 1,991 SF with 2 bedrooms, 2 bathrooms, large game room, covered carport, and covered patio
    • Second home: 840 SF with 2 bedrooms, 1 bathroom, full kitchen, utility room, and covered porches (includes outdoor shower)
    • Additional 144 SF cottage with extra private space for guests, office, or potential rental use
    • Shop includes a 20x15 office and bathroom, plus RV hookup; parking options include carport/covered/secured/driveway/RV
    • Utilities include well water and septic tank; main has co‑op water while the other home uses well water

    Overview

    This sale opportunity features a multi-home setup on 3.44 acres with well-maintained country character and room to customize. The main home offers 2 bedrooms, 2 bathrooms, a spacious living area, a utility room, and a large game room, complemented by a covered carport and patio. A second home provides 2 bedrooms, 1 bathroom, a full kitchen, living room, utility room, outdoor shower, and covered porches, creating strong options for long-term rental, short-term stays, or extended-family living. Additional space is provided by a small cottage that can serve as guest quarters, a private office, or another rental possibility. For buyers who want dedicated workspace, the property also includes a 30-by-40 foam-insulated shop with a 20-by-15 office and bathroom, well suited for a home business, workshop, or added income use.

    Located just outside the city limits in Santo ISD, the property sits between Stephenville, Granbury, Mineral Wells, and Gordon for access to everyday needs while maintaining a quieter setting. Water sources include co-op water for one home and well water for the other, supporting convenience and flexibility.

    With multiple separate living options and a substantial insulated shop, this is a practical fit for investors seeking diversified rental streams, families looking for multi-generational arrangements, or operators who need both housing and functional on-site workspace.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Lipan
    County
    Hood
    State
    Texas
    Longitude
    -97.9643
    Latitude
    32.5012

    Nearby Similar for Sale

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      Insulated two-bay shop plus a 1BR apartment or office space, ideal for combined work and live-in use.
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    • $544,995

      Multi-Unit Live-Work Property

      Versatile investment with multiple residences, guest options, and a foam-insulated shop with office and bathroom for business use.
      20531 S Farm-Market 4, Lipan, TX 76462
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    • $229,900
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    • $584,900

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      View Details

    FAQs

    What type of property is this?
    Duplex - Multiple dwellings plus a large shop offer flexible long-term, short-term, and home-business income potential.
    Where is this duplex located?
    The property is located at 20531 S Farm to 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 Santo ISD property with multiple homes plus a 30x40 foam‑insulated shop; Main home: 1,991 SF with 2 bedrooms, 2 bathrooms, large game room, covered carport, and covered patio; Second home: 840 SF with 2 bedrooms, 1 bathroom, full kitchen, utility room, and covered porches (includes outdoor shower)
    (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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