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    Farm Property with Renovated Home Title is generated by Realmo AI

    29007 Dove Lane, Katy, TX 77493

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    For Sale
    $845,000

    Residential (farm-ranch),Farm,Standard Frame - Katy, TX

    Type:Farm
    Property size:
    1,796 SF
    Lot size:
    3.00 Acres
    Price / SF:
    $470/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 29007 Dove Lane

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Carport, Garage
    Exterior features
    Barn(s), Barns, Well
    Fireplace
    1
    Standard status
    Active
    APN
    23606
    Size
    1,796 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1235

    Utilities

    Heating system
    Central, Fireplace(s)

    Building Details

    Year built
    1985
    Year renovated
    1985
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Katy Michalke

    Listing agent Katy Michalke License #475070

    Listing office Lindemann Real Estate 821 E. Travis ~ P.O. Box 279, La Grange, TX

    Listing date Jun 3, 2026

    MLS# 156430 Listing URL

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

    HighLights

    • Unrestricted 3‑acre corner lot with 365 ft of frontage on Schlipf Rd.
    • Fully renovated 2017 ranch home (built 1985) with 3 beds, 2 baths, and 1,796 SF of living space.
    • Brick exterior with composition shingle roof and central heating, plus fireplace(s).
    • Primary bath features double sinks, granite, and a large walk‑in shower.
    • Outdoor features include 15 mature oaks and a spacious covered back patio/carport.
    • Shop and RV setup: 768 SF metal barn plus RVport with 50A plug.

    Overview

    This farm property offers a fully renovated 2017 standard frame home on approximately 3 acres, with 3 bedrooms and 2 bathrooms totaling 1,796 square feet. Interior features include espresso cabinets, granite counters, a barn door, vaulted ceilings, and a brick fireplace. The primary bath includes double sinks, granite finishes, and a large walk-in shower. Outside, there is a spacious covered back patio/carport, along with room for hobbies or animals. Improvements include a 768 square foot metal barn and an RVport with a 50A plug.

    The property is set on a corner lot with 365 feet of frontage on Schlipf Rd and is shaded by 15 mature oaks. The listing also notes proximity to the Sunterra master-planned community and access to Katy-area amenities.

    For buyers seeking a flexible acreage holding, the combination of an updated residence and utility-friendly outbuildings can support a range of live-work and hobby uses. The unrestricted land and on-site barn and RV power make it practical for occupants who want space for equipment, animals, or future expansion while maintaining a renovated home setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Garden Center Tech Support Center Pet Grooming Service Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.874034
    Latitude
    29.827273

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    FAQs

    What type of property is this?
    Residential land & home lot - Unrestricted 3-acre corner lot with a 2017 renovated 3-bedroom home, metal barn, and RVport.
    Where is this residential land & home lot located?
    The property is located at 29007 Dove Lane Katy, TX.
    What is the asking price?
    The asking price for this property is $845,000.
    What are key features of this property?
    This property features: Unrestricted 3‑acre corner lot with 365 ft of frontage on Schlipf Rd.; Fully renovated 2017 ranch home (built 1985) with 3 beds, 2 baths, and 1,796 SF of living space.; Brick exterior with composition shingle roof and central heating, plus fireplace(s).
    (979) 968-5803
    We can help!
    Listing Contact
    Katy Michalke
    Real Estate License ID: 475070
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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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