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    Usable Pastureland with Barns and Pond Title is generated by Realmo AI

    6323 Fm 896 Highway, Bonham, TX 75418

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    For Sale
    $795,000

    LAND - Bonham, TX

    Lot size:
    32.14 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 7 at 5:06 pm

    Property Features for 6323 Fm 896 Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Brush, Wooded
    Fencing
    Perimeter
    Standard status
    Active
    APN
    000000076728
    Lot size
    32.14 Acres

    Taxes and HOA fees

    Tax Description
    A0506 C HAMPTON, ACRES 30.14
    Tax Annual Amount
    28

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank

    Building Details

    Year built
    1974
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Buster Sudderth

    Listing agent Buster Sudderth License #0498206

    Listing office Sudderth Real Estate, Inc. Leonard, TX

    Listing date Apr 24, 2026

    MLS# 21098586 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

    • 32.14 acres of usable native pastureland with about 2,900 ft of frontage along FM 896
    • Perimeter fencing with barbed wire, plus active electric fencing around the mobile home and yard
    • Two older but functional barns on the south side for hay storage, livestock shelter, or equipment
    • Working water meter at the southeast corner; pond north of the home provides a water source for livestock
    • Utilities include propane; sewer is served by two standard septic systems currently in use
    • Month‑to‑month cattle lease in place; Arledge Ridge Water Supply Corporation service area; two Parcel IDs: 76728 and 76727

    Overview

    This 32.14-acre tract is improved for livestock use, featuring native pastureland, perimeter fencing with barbed wire, and electric fencing around the mobile home and yard area (electric fence is active). A pond north of the home provides a dependable water source for animals. Two older but functional barns on the south side offer practical space for hay storage, livestock shelter, or equipment. A working water meter is in place at the southeast corner, and there are two standard septic systems currently in use. The existing 1974 mobile home conveys at no value, allowing flexibility for a new build or an updated operation layout.

    The property includes approximately 2,900 feet of frontage along FM 896 and is located in Bonham ISD with a Trenton address. It also sits within the Arledge Ridge Water Supply Corporation service area. Easy access to the highway supports both day-to-day livestock activities and convenient transport.

    Currently leased on a month-to-month basis for cattle, this land is well suited for an operator seeking grazing ground for cattle or horses, hay production, or a country homestead with room to run animals. The combination of fencing, water infrastructure, and existing livestock structures can help reduce start-up work for the next grazing season. Two parcel IDs (76728 and 76727) are listed in the Fannin County Appraisal District.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Bonham
    County
    Fannin
    State
    Texas
    Longitude
    -96.2493388
    Latitude
    33.4572492

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    FAQs

    What type of property is this?
    Ranch - Native pasture with perimeter fencing, active electric livestock fencing, and two older functional barns for cattle or horses.
    Where is this ranch located?
    The property is located at 6323 Fm 896 Highway Bonham, TX.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: 32.14 acres of usable native pastureland with about 2,900 ft of frontage along FM 896; Perimeter fencing with barbed wire, plus active electric fencing around the mobile home and yard; Two older but functional barns on the south side for hay storage, livestock shelter, or equipment
    (972) 658-4776
    We can help!
    Listing Contact
    Buster Sudderth
    Real Estate License ID: 0498206
    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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