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    Waterfront Land with Shoreline Views Title is generated by Realmo AI

    3168 Shadow Pine Drive, Larue, TX 75770

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    Claim this Listing
    New
    For Sale
    $599,950

    LAND - Larue, TX

    Lot size:
    2.00 Acres
    Added:
    Jun 6, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 7 at 2:06 am

    Property Features for 3168 Shadow Pine Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    33580000034010
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Description
    34 AB 178 W T CARTER SUR, LEGACY SHORES, LT 3
    Tax Annual Amount
    4852

    Utilities

    Water front features
    Waterfront, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Matthew Wood

    Listing agent Matthew Wood License #0639178

    Listing office Scout RE Texas Gun Barrel City, TX

    Listing date Jun 6, 2026

    MLS# 21284153 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

    • Two‑acre combined waterfront lots in Legacy Shores at Lake Palestine with nearly 300 ft of shoreline
    • Lake front property with open water views across the lake
    • Partially wooded homesites with mature pine trees
    • Gated community location within Legacy Shores
    • Gently sloping terrain suited for maximizing lake access and views

    Overview

    This listing offers two waterfront lots in Legacy Shores on Lake Palestine, totaling approximately two acres. The property features nearly 300 feet of shoreline with open water views, with terrain described as gently sloping. Vegetation is partially wooded, including mature pine trees, creating a balance of privacy and natural character for a future build.

    The homesites are located within the gated community of Legacy Shores. As a lakefront property, the primary attribute is the shoreline presence and the resulting sightlines across open water. The remarks also note convenient proximity to Tyler’s shopping, dining, and medical facilities.

    For buyers seeking a custom waterfront build, the combination of substantial shoreline frontage, open water views, and a wooded, privacy-oriented setting supports a range of residential options, from a full-time lake home to a weekend retreat. With ample space described across the combined lots, there is flexibility in how the homesite can be planned to take advantage of lake access and views.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Grocery & Convenience Store Food Market Pet Store & Service Farmer's Market Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Larue
    County
    Henderson
    State
    Texas
    Longitude
    -95.5274
    Latitude
    32.204506

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    FAQs

    What type of property is this?
    Waterfront Land - Two-acre waterfront homesite offering nearly 300 feet of shoreline and open water views in a gated Lake Palestine community.
    Where is this waterfront land located?
    The property is located at 3168 Shadow Pine Drive Larue, TX.
    What is the asking price?
    The asking price for this property is $599,950.
    What are key features of this property?
    This property features: Two‑acre combined waterfront lots in Legacy Shores at Lake Palestine with nearly 300 ft of shoreline; Lake front property with open water views across the lake; Partially wooded homesites with mature pine trees
    (214) 532-8327
    We can help!
    Listing Contact
    Matthew Wood
    Real Estate License ID: 0639178
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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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