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    Waterfront Homesite with Shoreline Title is generated by Realmo AI

    Lt 305 Compass Way, Bluff Dale, TX 76433

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    For Sale
    $158,000

    LAND - Bluff Dale, TX

    Lot size:
    1.01 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    56
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for Lt 305 Compass Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    RV
    Vegetation
    Cleared, Wooded
    Standard status
    Active
    APN
    R000067367
    Lot size
    1.01 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 1.014 S6760 MOUNTAIN LAKES SECTION TWO
    Tax Annual Amount
    1120

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Paula Donaho
    Paula Donaho

    Listing agent Paula Donaho License #499946

    Listing office DONAHO REAL ESTATE GROUP Bluff Dale, TX

    Listing date Apr 12, 2026

    MLS# 21231868 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

    • 1‑acre lakefront homesite with 100 ft of shoreline on the main body of water in Mountain Lakes Ranch
    • Land is cleared with scattered native oak and pecan trees
    • Meandering drive to the water’s edge with an outdoor area for lakeside use
    • Shoreline includes a steel pavilion, hammock area, pea gravel, and picnic table
    • RV parking on site (RV parking feature included)
    • Mountain Lakes Ranch amenities include two private lakes, clubhouse, community pool, RV park, and storage facilities

    Overview

    This waterfront homesite features approximately 100 feet of shoreline on the main body of water within Mountain Lakes Ranch. The land is cleared with scattered native trees, including oak and pecan, offering a natural lakeside setting while leaving room for construction. Access is provided by a meandering drive leading to the water’s edge, where an outdoor area is already in place for relaxation and views.

    The property is located near the front of the development, positioning it for convenient entry to Mountain Lakes Ranch. At the shoreline, there is a steel pavilion with a custom hammock area, pea gravel, and a picnic table, creating a ready-made spot for downtime and gatherings. Three large oak stumps provide additional natural seating, supporting activities such as fishing and watching the sunset.

    For buyers seeking a buildable waterfront escape, this lot offers both character and immediate usability, with shoreline-focused outdoor improvements already present. It also pairs well with the community’s range of on-site amenities, including two private lakes, a clubhouse, community pool, RV park, and storage facilities, making it a practical option for weekend retreats or a primary home plan that centers on lake living.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Grocery & Convenience Store Discount Store (Bike/Boat/Book/etc) Store Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Bluff Dale
    County
    Erath
    State
    Texas
    Longitude
    -98.019067
    Latitude
    32.336281

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    FAQs

    What type of property is this?
    Waterfront Land - A cleared waterfront lot with established outdoor gathering space, suited for building a lakeside retreat.
    Where is this waterfront land located?
    The property is located at Lt 305 Compass Way Bluff Dale, TX.
    What is the asking price?
    The asking price for this property is $158,000.
    What are key features of this property?
    This property features: 1‑acre lakefront homesite with 100 ft of shoreline on the main body of water in Mountain Lakes Ranch; Land is cleared with scattered native oak and pecan trees; Meandering drive to the water’s edge with an outdoor area for lakeside use
    (254) 595-0066
    We can help!
    Listing Contact
    Paula Donaho
    Paula Donaho
    Real Estate License ID: 499946
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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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