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    Residential Build Site in Development Title is generated by Realmo AI

    273 Bh Cooke Lane, Van Alstyne, TX 75495

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    Claim this Listing
    For Sale
    $395,000

    LAND - Van Alstyne, TX

    Lot size:
    3.90 Acres
    Added:
    Dec 23, 2025
    Days on Market:
    163
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 273 Bh Cooke Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    449937
    Lot size
    3.90 Acres

    Taxes and HOA fees

    Tax Description
    WATERBY FARMS ADDITION, BLOCK A, LOT 3, ACRES
    Tax Annual Amount
    1697

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Karen Marsh
    Karen Marsh

    Listing agent Karen Marsh License #0541391

    Listing office Glass Land and Home LLC Paris, TX

    Listing date Dec 23, 2025

    MLS# 21137051 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

    • Waterby Farms Lot 3: 3.89 acres for a new home build site just outside Van Alstyne, TX city limits
    • White rock drive is in place with approved county access to the property
    • Public water and public sewer available
    • Electrical and water available on the road front; buyer responsible for metering and utility connection fees
    • Adjacent to FM 3133 with about 5 minutes to downtown Van Alstyne and 10 minutes to I‑75
    • No HOA or MUD; minimal deed restrictions (survey available)

    Overview

    This for-sale build site is Lot 3 in the Waterby Farms development, positioned for a new home construction with seclusion from the road front. The property includes a white rock drive in place with approved county access, helping streamline initial site access for builders. Electrical and water are available at the road front, and the buyer will be responsible for metering and utility connection fees. A survey is available, and the lot includes minimal deed restrictions.

    Situated just outside Van Alstyne city limits, the location is described as providing easy access to town amenities while maintaining a sense of rural privacy. The property is adjacent to FM 3133, with stated proximity to downtown Van Alstyne and Interstate 75. Public remarks also note the absence of HOA or MUD at this location.

    For buyers looking to build a custom home with utilities already brought to the road and uncomplicated access, this homesite fits well. The minimal deed restrictions and no HOA/MUD structure can appeal to owner-builders and developers seeking more flexibility, while the road-front utility availability can help reduce early infrastructure uncertainty.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Van Alstyne
    County
    Grayson
    State
    Texas
    Longitude
    -96.544149
    Latitude
    33.408621

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    FAQs

    What type of property is this?
    Residential land & home lot - An outside-city Van Alstyne homesite with county-approved access and utilities at the road front, offering rural privacy.
    Where is this residential land & home lot located?
    The property is located at 273 Bh Cooke Lane Van Alstyne, TX.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Waterby Farms Lot 3: 3.89 acres for a new home build site just outside Van Alstyne, TX city limits; White rock drive is in place with approved county access to the property; Public water and public sewer available
    (903) 785-8457
    We can help!
    Listing Contact
    Karen Marsh
    Karen Marsh
    Real Estate License ID: 0541391
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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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    273 Bh Cooke Lane, Van Alstyne, TX 75495
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