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    Unrestricted Land with Two Ponds Title is generated by Realmo AI

    500 Uren Lee Road, Overton, TX 75684

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    Claim this Listing
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    For Sale
    $178,999

    LAND - Overton, TX

    Lot size:
    24.60 Acres
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 9:06 am

    Property Features for 500 Uren Lee Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    18344
    Lot size
    24.60 Acres

    Taxes and HOA fees

    Tax Description
    AB 957-958-959 JOE LEE SURVEYS P-2
    Tax Annual Amount
    52

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Felicia Allen Grace

    Listing agent Felicia Allen Grace License #0656216

    Listing office Fathom Realty McKinney, TX

    Listing date May 28, 2026

    MLS# 20813404 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

    • Unrestricted 24.6‑acre property in Overton with extensive clearing recently refreshed for easier access and planning
    • Land features a mix of open pasture and natural wooded areas, offering usable space plus privacy
    • Two ponds on the property, each with a saltwater filtration system
    • Public water and public sewer available
    • Generous road frontage along a quiet county road for easy access while maintaining privacy
    • Minutes from Highway 135 and nearby towns for nearby daily convenience

    Overview

    This offering consists of 24.6 acres of unrestricted land in Overton, Texas, recently refreshed with extensive clearing. The property features a workable mix of open pasture and natural wooded areas, giving you both usable space and privacy. Two ponds are on-site, and each pond includes saltwater filtration systems. The combination of cleared ground and established natural areas creates a straightforward canvas for owners who want to walk the site, plan, and begin with development or personal improvements.

    Road access is available along a quiet county road with generous road frontage, supporting practical entry to the property while maintaining a more secluded feel. The land is located just minutes from Highway 135, balancing country separation with nearby daily convenience. This setting also offers a natural environment that can attract wildlife such as deer.

    The flexibility of unrestricted ownership makes this property a strong fit for buyers seeking room to build without known deed restrictions, including those planning a custom home, barndominium, or a ranch-style use. Investors and long-term holders may also value the combination of water features, cleared areas, and mixed terrain that can support multiple end uses or future planning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Overton
    County
    Rusk
    State
    Texas
    Longitude
    -94.96266
    Latitude
    32.265703

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Unrestricted East Texas acreage with cleared pasture, wooded areas, and two ponds for fishing and private use.
    Where is this agricultural land / farmland located?
    The property is located at 500 Uren Lee Road Overton, TX.
    What is the asking price?
    The asking price for this property is $178,999.
    What are key features of this property?
    This property features: Unrestricted 24.6‑acre property in Overton with extensive clearing recently refreshed for easier access and planning; Land features a mix of open pasture and natural wooded areas, offering usable space plus privacy; Two ponds on the property, each with a saltwater filtration system
    (888) 455-6040
    We can help!
    Listing Contact
    Felicia Allen Grace
    Real Estate License ID: 0656216
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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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