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    Recreational Land with Year-Round Water Title is generated by Realmo AI

    555 Private Road 3428, Milano, TX 76558

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    For Sale
    $175,000

    LAND - Other - Milano, TX

    Lot size:
    14.22 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    73
    Last Refresh:
    Jun 4 at 3:06 am

    Property Features for 555 Private Road 3428

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    R57932
    Lot size
    14.22 Acres

    Taxes and HOA fees

    Tax Description
    S13250 LIN LUCE RANCHES #2 BLK 90-G, 14.223 A
    Tax Annual Amount
    164

    Utilities

    Water front features
    Waterfront, Creek
    Water front
    1

    Building Details

    Architectural style
    Other
    Additional Structures
    Shed(s)

    We can help!

    Listing Contact
    Brandee Kelley

    Listing agent Brandee Kelley License #0541522

    Listing office Keller Williams Lonestar DFW Arlington, TX

    Listing date Mar 24, 2026

    MLS# 21023967 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

    • 14.223‑acre property near Milano with waterfront features including a creek and natural pond
    • Year‑round water: a spring‑fed creek runs through the land year‑round
    • Electric meter onsite, ready for setting up a cabin, RV, or homesite
    • Heavily wooded with mature live oaks, post oaks, and yaupons on gently rolling terrain
    • Abundant wildlife noted, including whitetail deer, hogs, and wood ducks
    • Private access via Private Road 3428 off Private County Road 342

    Overview

    This 14.223-acre recreational and agricultural land offering features mature woods, natural clearings, and gently rolling terrain that support both privacy and outdoor recreation. A spring-fed creek runs through the property year-round, and a natural pond adds additional water and scenic value. The land is covered with a mature mix of live oaks, post oaks, and yaupons, creating dense cover with habitat suitable for wildlife observation.

    Access is provided via a private road (Private Road 3428 off Private County Road 342), offering a quiet setting while remaining reachable. The property also has an electric meter onsite, which can help streamline setup for a cabin, RV, or homesite. The tract is currently under an agricultural exemption, which may help keep property taxes lower. Wildlife activity is commonly reported, including whitetail deer, hogs, and wood ducks.

    For buyers seeking a secluded Central Texas escape, this tract offers practical natural amenities for hunting and wildlife viewing along with existing utilities. It may also suit long-term ownership goals where outdoor recreation and the ability to establish a use-ready homesite are priorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Department Store Storage Facility Grocery & Convenience Store Grocery & Convenience Store Daycare Center Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Milano
    County
    Milam
    State
    Texas
    Longitude
    -96.741951
    Latitude
    30.703686

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    FAQs

    What type of property is this?
    Hunting land - Heavily wooded tract with a spring-fed creek, pond, and onsite electric meter for private outdoor use.
    Where is this hunting land located?
    The property is located at 555 Private Road 3428 Milano, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: 14.223‑acre property near Milano with waterfront features including a creek and natural pond; Year‑round water: a spring‑fed creek runs through the land year‑round; Electric meter onsite, ready for setting up a cabin, RV, or homesite
    (817) 795-2500
    We can help!
    Listing Contact
    Brandee Kelley
    Real Estate License ID: 0541522
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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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