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    Ranch Property with Pecan Trees Title is generated by Realmo AI

    3397 2048 Highway, Boyd, TX 76023

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    Claim this Listing
    Pending
    $1,500,000

    LAND - Boyd, TX

    Lot size:
    90.00 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    225
    Last Refresh:
    Jun 8 at 3:06 am

    Property Features for 3397 2048 Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Wooded
    Standard status
    Pending
    APN
    741981
    Lot size
    90.00 Acres

    Taxes and HOA fees

    Tax Description
    A-533 SC LAIRD 80.0000 ACRES
    Tax Annual Amount
    3104

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1966
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Wil Wakeland

    Listing agent Wil Wakeland License #0776962

    Listing office Keller Williams Heritage West Weatherford, TX

    Listing date Oct 27, 2025

    MLS# 20993041 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

    • 90‑acre multi‑generation ranch with sandy loam soil, pasture with open areas, and some tree cover
    • 1966 farm house (1,556 SF) with central heating and central air, on‑site water well in the back yard
    • Farm house includes propane gas stove and oven and a fireplace
    • Outbuildings include a 30' x 40' (1,400 SF) dirt‑floor metal building and a 1,750 SF blue metal barn with stalls
    • Two large ponds on the property, with mature pecan trees at the home site and chicken coop in the backyard
    • Only easement reported is overhead Oncor power lines running east to west across the parcel

    Overview

    This 90-acre ranch property is set up for flexible agricultural use and comfortable on-site living. The home site includes a 1,556-square-foot farm house built in 1966 in original condition, with a water well and propane stove and oven plus a fireplace. Outside, there are many fully matured pecan trees in both front and back yards, a chicken coop, and a dirt-floor metal building measuring 30 by 40. Livestock improvements also include a blue metal barn with stalls.

    The land features sandy loam soil, open pasture areas, and tree cover, with two large ponds supporting grazing and day-to-day operations. The only noted restriction is an overhead Oncor power line easement that runs east to west across the parcel. The property has historically supported watermelon and cantaloupe production, and it offers development potential for future planning.

    For buyers seeking a ranch with productive acreage and existing improvements, this is well-suited to horses and livestock grazing, as well as buyers looking to shape a longer-term development or agricultural plan around the ponds, pasture, and established home site. The combination of open land, mature trees, and on-property structures provides a practical foundation for multiple operating scenarios.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Boyd
    County
    Wise
    State
    Texas
    Longitude
    -97.5528
    Latitude
    33.0828

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    FAQs

    What type of property is this?
    Ranch - Multi-generation 90-acre ranch with pasture, mature pecan trees, two ponds, and development potential.
    Where is this ranch located?
    The property is located at 3397 2048 Highway Boyd, TX.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 90‑acre multi‑generation ranch with sandy loam soil, pasture with open areas, and some tree cover; 1966 farm house (1,556 SF) with central heating and central air, on‑site water well in the back yard; Farm house includes propane gas stove and oven and a fireplace
    (817) 441-4000
    We can help!
    Listing Contact
    Wil Wakeland
    Real Estate License ID: 0776962
    Learn More
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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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    3397 2048 Highway, Boyd, TX 76023
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