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    Waterfront Land with Boat House Title is generated by Realmo AI

    656 Enchanted Isles Drive, Mabank, TX 75156

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    For Sale
    $995,000

    Waterfront lot with an existing boat house and 30-foot slip, set in a gated lake community.

    Type:Lots & Acreage / Unimproved Land
    Property size:
    13,503 SF
    Price / SF:
    $73/SF
    Added:
    Feb 3, 2026
    Days on Market:
    124
    Last Refresh:
    Jun 6 at 5:19 am

    Property Features for 656 Enchanted Isles Drive

    General Information

    Standard status
    Active
    Size
    13,503 SF
    Property subtype
    Lots & Acreage / Unimproved Land

    We can help!

    Listing Contact
    Kim Dale

    Listing agent Kim Dale License #0675138

    Listing office Allie Beth Allman & Assoc.

    Listing date Feb 3, 2026

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Allie Beth Allman & Assoc.

    HighLights

    • Waterfront lot in a gated Cedar Creek Lake community, with an existing boat house and covered dock area
    • Includes a 30' boat slip plus a personal watercraft (jet ski) lift
    • 111 feet of east‑facing waterfront with lake front views from the home site, backyard, boat house, and party deck
    • Boat house offers upper and lower seating/dining areas with finished wood siding and a stained ceiling on the first floor
    • Waterfront features include a steel retaining wall and a main body lake‑front location
    • Enchanted Oaks community amenities available to Enchanted Isles owners, including a community pool and boat ramp/slips

    Overview

    This waterfront land offering includes a newly built boat house with a party deck. The boat house is designed for ready use and includes a 30' boat slip, a jet ski lift, and a granite island with storage. Interior and comfort features include finished wood siding and a stained ceiling on the first floor, along with fans and lights, plus a storage closet. Seating and/or dining areas are available on both the upper and lower levels.

    The property provides 111 feet of east-facing waterfront, with views extending from the future home site and yard through to the boat house and party deck. It is positioned on an island setting that is described as offering calmer water for activities such as floating and paddle boarding, and it also notes suitable water depth for boating. Ownership in the community includes access to the Enchanted Oaks community pool and a boat ramp and slips for Enchanted Isles owners.

    For buyers looking to build a home around waterfront recreation, the existing boat house and slip can reduce time to begin lake use while keeping the shoreline orientation and viewing opportunities central to the site plan.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Mabank
    County
    Henderson
    State
    Texas
    Longitude
    -96.0967
    Latitude
    32.2833

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    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lot with an existing boat house and 30-foot slip, set in a gated lake community.
    Where is this waterfront land located?
    The property is located at 656 Enchanted Isles Drive Mabank, TX.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Waterfront lot in a gated Cedar Creek Lake community, with an existing boat house and covered dock area; Includes a 30' boat slip plus a personal watercraft (jet ski) lift; 111 feet of east‑facing waterfront with lake front views from the home site, backyard, boat house, and party deck
    (214) 354-5755
    We can help!
    Listing Contact
    Kim Dale
    Real Estate License ID: 0675138
    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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    656 Enchanted Isles Drive, Mabank, TX 75156
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