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    Blanket Farm/Ranch Opportunity Title is generated by Realmo AI

    602 Avenue H, Blanket, TX 76432

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    Claim this Listing
    New
    For Sale
    $100,000

    Farm/Ranch - Blanket, TX

    Type:Farm
    Property size:
    1,412 SF
    Lot size:
    2.07 Acres
    Price / SF:
    $70/SF
    Added:
    May 11, 2026
    Days on Market:
    4
    Last Refresh:
    May 14 at 9:06 pm

    Property Features for 602 Avenue H

    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
    Driveway
    Interior features
    Paneling
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Electric
    Standard status
    Active
    APN
    48680
    Size
    1,412 SF
    Lot size
    2.07 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Ceiling Fan(s), Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Floors in Building
    1
    Building materials
    Brick
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Jordan Barton

    Listing agent Jordan Barton License #0769808

    Listing office Turnkey Realty LLC 113 Baker St, Odessa, TX

    Listing date May 11, 2026

    MLS# 21209726 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

    • Large lot with wet weather creek, ideal for animals/livestock
    • Priced to sell, offering potential for value increase with renovations
    • 3 bedroom, 2 bathroom house with enclosed garage and additional storage
    • Located a couple blocks from Blanket schools and general store
    • Brick construction with Ranch architectural style
    • Heating includes central heat and fireplace

    Overview

    This property, ideal for horse enthusiasts seeking a rural lifestyle, features a three-bedroom, two-bathroom house with a large enclosed garage and a secondary storage area. Situated on a 2.066-acre lot, the land includes a wet weather creek. The 1,412 square-foot house is located a couple blocks from Blanket schools and the general store. The property is suitable for raising animals or livestock. Located in Blanket, Texas, this property offers a slower pace of life.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Restaurant Gym & Fitness Center Food Market Grocery & Convenience Store Tech Support Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Blanket
    County
    Brown
    State
    Texas
    Longitude
    -98.789092
    Latitude
    31.82231

    Nearby Similar for Sale

    • $495,000
      2,736 SF

      Highway 377 Commercial Opportunity

      2,736 sq ft metal building on approximately one acre.
      909 Pitts Lane, Blanket, TX 76432
      View Details
    • $495,000

      Highway 377 Commercial Opportunity

      One-acre Blanket, TX property with metal building and canopy.
      909 Pitts Lane, Blanket, TX 76432
      View Details
    • $249,900

      Blanket, TX Ranch Land

      25.09 acres in Brown County with water and electric.
      332 Ledge Stone, Blanket, TX 67432
      View Details
    • $157,325

      Texas Ranch Land For Sale

      15.73 acres of ranch land between Brownwood and Blanket.
      Lot 2A 8288 County Road 329, Blanket, TX 76432
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - Three-bedroom home on a large lot near Blanket schools.
    Where is this horse & equestrian property located?
    The property is located at 602 Avenue H Blanket, TX.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Large lot with wet weather creek, ideal for animals/livestock; Priced to sell, offering potential for value increase with renovations; **3 bedroom, 2 bathroom house** with enclosed garage and additional storage
    (325) 430-2411
    We can help!
    Listing Contact
    Jordan Barton
    Real Estate License ID: 0769808
    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.

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