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    Texas Ranch with Bison History Title is generated by Realmo AI

    5905 N US Highway 281 172, Hamilton, TX 76531

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    For Sale
    $1,900,000

    Ranch, Farm/Ranch - Hamilton, TX

    Type:Farm
    Property size:
    4,240 SF
    Lot size:
    172.29 Acres
    Price / SF:
    $448/SF
    Added:
    May 29, 2026
    Days on Market:
    3
    Last Refresh:
    May 31 at 5:06 pm

    Property Features for 5905 N US Highway 281 172

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    5
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Garage
    Interior features
    Built-in Features, Cable Tv Available, Cathedral Ceiling(s), Cedar Closet(s), Chandelier, Decorative Lighting, Dumbwaiter, Eat-in Kitchen, High Speed Internet Available, In-law Suite Floorplan, Kitchen Island, Loft, Multiple Staircases, Natural Woodwork, Open Floorplan, Pantry, Vaulted Ceiling(s), Walk-in Closet(s), Second Primary Bedroom
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Gas, Microwave, Oven - Double, Oven - Gas, Range, Range - Gas, Refrigerator
    Standard status
    Active
    APN
    R23530
    Size
    4,240 SF
    Lot size
    172.29 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Fireplace(s)

    Building Details

    Year built
    1999
    Flooring type
    Concrete, Hardwood
    Building materials
    Concrete, Stone, Stucco
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Tai Cobb Klam

    Listing agent Tai Cobb Klam License #0594871

    Listing office COBB RANCH PROPERTIES, LLC 300 N 3rd St, Cranfills Gap, TX

    Listing date May 29, 2026

    MLS# 21187233 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

    • 172± acre ranch property suitable for investment, recreation, or residential use.
    • Convenient location: 13 miles from both Hamilton and Hico, with direct access to U.S. Highway 281.
    • Distinctive stucco lodge designed for entertaining, featuring a great room, open‑concept kitchen, loft, and flexible suite options.
    • Property includes a large metal workshop, cattle pens, barns, and an original windmill.
    • Gently rolling terrain with native hardwoods (oak and juniper) and a stock tank for livestock and wildlife.
    • Ranch has historical significance as a former working bison ranch owned by the same family.

    Overview

    This 172± acre property in Hamilton County presents an opportunity for investment, recreation, or residential use in Central Texas. The ranch, previously a working bison ranch, features a history and character. It is located 13 miles from both Hamilton and Hico, with U.S. Highway 281 providing main access. The property includes a stucco lodge designed for entertaining, featuring a great room with vaulted ceilings, an open-concept kitchen and dining area, and a loft with a full bath. The layout includes a primary bedroom with a private entrance and kitchenette, an additional guest bedroom, and a laundry room. Downstairs, there is a large kitchen and suite, along with a full bath and a half bath. Improvements include a large metal workshop, cattle pens, barns, and an original windmill. The landscape features gently rolling terrain with native hardwoods such as oak and juniper, along with one stock tank that supports livestock and wildlife.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Hamilton
    County
    Hamilton
    State
    Texas
    Longitude
    -98.124021
    Latitude
    31.804421

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    FAQs

    What type of property is this?
    Ranch - 172-acre ranch in Hamilton County, ideal for recreation.
    Where is this ranch located?
    The property is located at 5905 N US Highway 281 172 Hamilton, TX.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 172± acre ranch property suitable for investment, recreation, or residential use.; Convenient location: 13 miles from both Hamilton and Hico, with direct access to U.S. Highway 281.; **Distinctive stucco lodge designed for entertaining, featuring a great room, open‑concept kitchen, loft, and flexible suite options.**
    (254) 253-0157
    We can help!
    Listing Contact
    Tai Cobb Klam
    Real Estate License ID: 0594871
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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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