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    Residential Homesite with Mature Trees Title is generated by Realmo AI

    636 R C Luker Court, Granbury, TX 76048

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    For Sale
    $150,000

    LAND - Granbury, TX

    Lot size:
    1.06 Acres
    Added:
    May 26, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 636 R C Luker Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Brush, Wooded
    Standard status
    Active
    APN
    R000107708
    Lot size
    1.06 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 1.062 LOT: 7 BLK: 1 SUBD: LUKER RANCH
    Tax Annual Amount
    713

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Becky Gibson

    Listing agent Becky Gibson License #0504960

    Listing office BLVD Group Irving, TX

    Listing date May 26, 2026

    MLS# 21076527 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

    • 1.062‑acre residential homesite in Luker Ranch at 636 R C Luker Ct
    • Water source: well; sewer: septic tank
    • Co‑op electricity available
    • Ready for well and septic installation
    • Neighboring lot at 630 R C Luker Ct also available for a combined 2.068 acres

    Overview

    Located at 636 R C Luker Court in Luker Ranch, this residential homesite offers space and privacy to build a custom home. The property features a mature, natural setting and provides room for practical outdoor living options such as a pool, workshop, or guesthouse. Co-op electricity is available, and the lot is ready for well and septic installation, giving you a clear path to start building.

    The community setting is described as serene and highly desirable, with the Historic Granbury Square and Lake Granbury recreation both just minutes away by drive. Buyers can also benefit from nearby convenience while still maintaining the open feel that comes with over an acre of land.

    This type of property typically fits owner-builders and buyers looking for a larger parcel to accommodate long-term plans, multi-generational living, or flexible site improvements. If additional space is needed, the neighboring lot at 630 R C Luker Court is also available, creating an opportunity to own a combined larger homesite for more room to spread out.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Granbury
    County
    Hood
    State
    Texas
    Longitude
    -97.72467
    Latitude
    32.39618

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    FAQs

    What type of property is this?
    Residential land & home lot - A private homesite with mature trees and utilities ready for well and septic setup in Granbury ISD.
    Where is this residential land & home lot located?
    The property is located at 636 R C Luker Court Granbury, TX.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: 1.062‑acre residential homesite in Luker Ranch at 636 R C Luker Ct; Water source: well; sewer: septic tank; Co‑op electricity available
    (214) 308-1363
    We can help!
    Listing Contact
    Becky Gibson
    Real Estate License ID: 0504960
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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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