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    Farm and Ranch Land with Ponds Title is generated by Realmo AI

    3721 FM 1396 E, Ivanhoe, TX 75447

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    Claim this Listing
    For Sale
    $425,000

    LAND - Other - Ivanhoe, TX

    Lot size:
    24.33 Acres
    Added:
    Feb 21, 2026
    Days on Market:
    105
    Last Refresh:
    Jun 6 at 12:06 am

    Property Features for 3721 FM 1396 E

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    84825
    Lot size
    24.33 Acres

    Utilities

    Sewer type
    Septic Tank

    Building Details

    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    DeAnn Jones

    Listing agent DeAnn Jones License #0679190

    Listing office FanninLand Realty Bonham, TX

    Listing date Feb 21, 2026

    MLS# 21186166 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

    • 24.331‑acre property with an agriculture exemption from Fannin CAD, used as a hay meadow for numerous years
    • 2 residences on site: titled 2001 doublewide mobile home (2,128 SF, 4 bed/3 bath) plus 2 additional non‑titled mobile homes that convey
    • Non‑titled mobile home living in place: 2 bed/1 bath; other non‑titled mobile home currently used for storage
    • Farm outbuildings include a 30x30 quonset hut with 2 roll‑up doors and ends available, plus a barn with 3 stalls and a tack room
    • Water features include a large stocked fishing pond and 2 other ponds on the property
    • Utilities and services: septic tank sewer, 2 electric meters, 2 older septic tanks, and 1 water meter; seller open to dividing into 2 parcels with 2 assigned 911 addresses (3721 E FM 1396, 3761 E FM 1396)

    Overview

    Offered for sale as land only, this 24+ acre farm and ranch property includes multiple on-site dwellings and agricultural improvements while no value is placed on the residences. The property features a titled 2001 doublewide mobile home with four bedrooms and three baths, plus two additional non-titled mobile homes that convey with the sale. One is currently occupied, and the other is used for storage. Additional improvements include a 30-by-30 quonset hut with roll-up doors and end sections available but not installed, as well as a barn with three stalls and a tack room. Water features include a large, stocked fishing pond and two other ponds.

    The property is currently receiving an agriculture exemption through Fannin CAD and has been used as a hay meadow for numerous years. It includes two electric meters, two older septic tanks, and one water meter. The seller is open to dividing the property into two parcels if less acreage is needed, and the land already has two assigned 911 addresses: 3721 E FM 1396 and 3761 E FM 1396.

    This is a strong fit for buyers seeking a rural homestead opportunity with existing structures and working improvements, or for investors looking for flexible land-use potential. With the seller’s openness to subdivision and the property’s established agricultural use, it may also appeal to operators planning a diversified farm or ranch setup.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Department Store Grocery & Convenience Store Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ivanhoe
    County
    Fannin
    State
    Texas
    Longitude
    -96.088018
    Latitude
    33.695527

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Versatile 24+ acre property with multiple water features, hay-meadow history, and outbuildings for rural living or investment.
    Where is this agricultural land / farmland located?
    The property is located at 3721 FM 1396 E Ivanhoe, TX.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: 24.331‑acre property with an agriculture exemption from Fannin CAD, used as a hay meadow for numerous years; 2 residences on site: titled 2001 doublewide mobile home (2,128 SF, 4 bed/3 bath) plus 2 additional non‑titled mobile homes that convey; Non‑titled mobile home living in place: 2 bed/1 bath; other non‑titled mobile home currently used for storage
    (903) 583-8538
    We can help!
    Listing Contact
    DeAnn Jones
    Real Estate License ID: 0679190
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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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