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    Fenced Equestrian Ranch Acreage Title is generated by Realmo AI

    248 Shaffer Road, Denison, TX 75021

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    For Sale
    $799,000

    LAND - Other - Denison, TX

    Lot size:
    42.30 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    44
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 248 Shaffer Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Wooded
    Exterior features
    PrivateEntrance
    Fencing
    Fenced
    Standard status
    Active
    APN
    448213
    Lot size
    42.30 Acres

    Taxes and HOA fees

    Tax Description
    G-0326 DUGAN GEORGE G A-G0326, ACRES 42.3
    Tax Annual Amount
    716

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1997
    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Mark Burkhalter

    Listing agent Mark Burkhalter License #0353816

    Listing office FRONTIER PROPERTIES REAL ESTATE, LLC Bonham, TX

    Listing date Apr 21, 2026

    MLS# 21189995 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

    • 42.3‑acre parcel just off Hwy 69, accessed via a private road, halfway between Denison and Bells in Bells ISD
    • 2‑bedroom, 2‑bath mobile home renovated down to the studs in 2024, with foam insulation and a modern mini‑split heating/cooling system
    • Functioning deep well provides drinking water for the home, with potential for garden irrigation or livestock use
    • Land features a tree‑filled creek bottom with rolling hills, oak and pecan trees, and wildlife activity
    • Fully fenced and cross‑fenced property with pastureland for horses or other livestock
    • Includes a barn and two stock tanks (one reported to be in great shape); septic tank on site

    Overview

    Set on 42.3 acres, this fully fenced and cross-fenced property is designed for a quiet, outdoor lifestyle. A move-in ready 2-bedroom, 2-bath mobile home was renovated down to the studs in 2024 and features foam insulation and a modern mini-split heating and cooling system. Water service is supported by a functioning deep well, suitable for drinking and also practical for irrigation or livestock needs. The land includes rolling hills with scattered oak and pecan trees, plus a tree-filled creek bottom that attracts wildlife, making it well suited for deer viewing and other outdoor activities. For animals, the property offers a barn and two stock tanks, including one in great shape.

    The acreage sits just off Hwy. 69 on a private road and is positioned roughly halfway between Denison and Bells. It is located within the Bells ISD school district and remains convenient to nearby Sherman and Denison while still offering the privacy of country setting.

    This property has strong appeal for buyers seeking income opportunity through a buildable, multi-site ranch configuration or for families wanting to live on-site while planning a custom home. The pastureland, fencing, and livestock support improvements make it particularly practical for horse and small livestock operations, with multiple potential building sites for future expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Denison
    County
    Grayson
    State
    Texas
    Longitude
    -96.46381
    Latitude
    33.678627

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Turnkey ranch acreage with a renovated mobile home, deep well water, and fenced pasture ready for horses or livestock.
    Where is this agricultural land / farmland located?
    The property is located at 248 Shaffer Road Denison, TX.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: 42.3‑acre parcel just off Hwy 69, accessed via a private road, halfway between Denison and Bells in Bells ISD; 2‑bedroom, 2‑bath mobile home renovated down to the studs in 2024, with foam insulation and a modern mini‑split heating/cooling system; Functioning deep well provides drinking water for the home, with potential for garden irrigation or livestock use
    (903) 583-8721
    We can help!
    Listing Contact
    Mark Burkhalter
    Real Estate License ID: 0353816
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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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