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    3421 School House Road Forestburg, TX 76239

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    For Sale
    $4,000,000

    Farm/Ranch - Forestburg, TX

    Type:Farm
    Property size:
    3,989 SF
    Lot size:
    135.00 Acres
    Price / SF:
    $1,002/SF
    Added:
    Apr 30, 2026
    Days on Market:
    3
    Last Refresh:
    May 2 at 7:06 pm

    Property Features for 3421 School House Road

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Garage, Heated, Oversized
    Patio and Porch features
    Patio, Porch
    Interior features
    Decorative Lighting, Granite Counters, Kitchen Island, Open Floorplan, Vaulted Ceiling(s)
    Exterior features
    Covered Patio/Porch, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Range, Range - Gas, Washer
    Standard status
    Active
    APN
    R000006460
    Size
    3,989 SF
    Lot size
    135.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s), Heat Pump (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1980
    Floors in Building
    1
    Flooring type
    Engineered Wood, Tile
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch

    We can help!

    Listing Contact
    John Lanier
    John Lanier

    Listing agent John Lanier License #0453020

    Listing office Parker Properties Real Estate 103 N State St, Decatur, TX

    Listing date Apr 30, 2026

    MLS# 21250966 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.

    Overview

    Texas Pastureland with Move-In Ready Home

    This property features 135 acres of gently rolling north Texas pastureland. The land is generally rectangular in shape, offering views from nearly any point on the property. Improvements include an approximately 3,989 square foot brick home that is move-in ready, along with a large shop and other buildings. Water features include an approximate 5-acre lake and one smaller pond. The property is located in Forestburg, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Forestburg
    County
    Montague
    State
    Texas
    Longitude
    -97.604255
    Latitude
    33.511168

    Nearby Similar for Sale

    • $3,500,000
      600 SF

      North Texas Ranch with Lake

      222-acre ranch featuring a lake, grazing land, and improvements.
      2145 Fm 922, Forestburg, TX 76239
      View Details
    • $425,000

      Ranch Land in Forestburg, Texas

      28.45 acre ranch property for sale in Forestburg, Texas.
      334 Greanead Road, Forestburg, TX 76239
      View Details

    FAQs

    What type of property is this?
    Farm - 135-acre Texas farm with home, shop, lake, and pond.
    Where is this farm located?
    The property is located at 3421 School House Road Forestburg, TX.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: 135 acres of gently rolling north Texas pastureland; Move‑in ready, almost 4,000 square foot brick home; Includes a large shop and other buildings
    (940) 627-9040
    We can help!
    Listing Contact
    John Lanier
    John Lanier
    Real Estate License ID: 0453020
    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.

    More about this property
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    3421 School House Road, Forestburg, TX 76239

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