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    Agricultural Land with Livestock Potential Title is generated by Realmo AI

    2991 Village Bend Road, Mineral Wells, TX 76067

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    Claim this Listing
    For Sale
    $499,899

    LAND - Mineral Wells, TX

    Lot size:
    24.13 Acres
    Added:
    Mar 29, 2026
    Days on Market:
    69
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for 2991 Village Bend Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Fenced
    Standard status
    Active
    APN
    00881
    Lot size
    24.13 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 24.130 AB 49 TR 6-1-1 D BOURNE G#10049

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Central, Propane (Heating)
    Cooling system
    Central Air, Electric, Window Unit(s)
    Water source
    Well

    We can help!

    Listing Contact
    Christy Dorr

    Listing agent Christy Dorr License #0669027

    Listing office Cornerstone Home and Ranch Mineral Wells, TX

    Listing date Mar 29, 2026

    MLS# 21118148 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

    • Just over 24 acres of AG Exempt land in Palo Pinto County, about 7 miles southwest of Mineral Wells
    • Older model manufactured home is occupied and has a 3‑year‑old roof
    • Utilities include propane heating with central and window A/C units (central air, electric, window unit[s])
    • Water options include co‑op water plus a well; septic tank sewer
    • Fenced front area includes fruit trees and space for vegetable gardens
    • Land includes partially wooded back area with trails, plus pens and outbuildings noted for livestock/poultry

    Overview

    This property is a just-over-24-acre Ag exempt tract in Palo Pinto County, offering a country homestead setup with room to work. The site includes an older model manufactured home that is currently occupied and has a roof reportedly installed about three years ago. The front portion of the home is fenced off and includes fruit trees and space intended for vegetable gardens. A back portion of the property is partially wooded, with trails providing opportunities for quiet outdoor use. For utility and day-to-day outdoor needs, the property has both co-op water and a well used for outdoor use and animals. The boundary lines shown in available photos are approximated, and additional ground photos of the land and improvements are available upon request.

    Located outside the city limits and approximately seven miles southwest of Mineral Wells, the acreage provides a private setting while remaining close to the local market. The combination of fenced space, established home improvements, and natural areas can support a variety of agricultural and hobby farming plans.

    This is a strong fit for buyers seeking a self-sufficient property for livestock, poultry, and gardening, particularly those who want an existing residence on the land. It also suits buyers looking to create a quiet rural homestead with outbuildings and room for farm equipment, supported by on-site water access for animals and outdoor activities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Mineral Wells
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.14612
    Latitude
    32.719749

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Ag exempt acreage outside city limits with co-op water, a well, and space for pens, gardens, and farm storage.
    Where is this agricultural land / farmland located?
    The property is located at 2991 Village Bend Road Mineral Wells, TX.
    What is the asking price?
    The asking price for this property is $499,899.
    What are key features of this property?
    This property features: Just over 24 acres of AG Exempt land in Palo Pinto County, about 7 miles southwest of Mineral Wells; Older model manufactured home is occupied and has a 3‑year‑old roof; Utilities include propane heating with central and window A/C units (central air, electric, window unit[s])
    (940) 452-7915
    We can help!
    Listing Contact
    Christy Dorr
    Real Estate License ID: 0669027
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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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