Resort Ranch with RV
For Sale
$875,000
7991 Ranch Road 965, Fredericksburg, TX 78624
Unrestricted resort ranch with a 3BR/2BA residence and a pull-through RV shelter with full hookups.
Property Size1,344 SF
Lot Size22.00 Acres
Price / SF$651.04
Days on Market110
Property Features for 7991 Ranch Road 965
General Information
Standard status
Active
Size
1,344 SF
Lot size
22.00 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$575
Listing Agency:
Fore Premier Properties
(830) 257-4000
Listed By:
Ann Thompson
(830) 992-7233
Source:
Exprealty
Added: May 20
Changed: Sep 5
Last Checked: Sep 5 at 12:59PM
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 Fore Premier Properties
Investment Insights
Based on property information with market context.
Enchanted Fredericksburg Ranch is an unrestricted Hill Country property featuring a well-maintained 3BR/2BA residence with expansive covered decks and a 2-car carport. Additional improvements include a metal building with slab and roll-up doors, a backup generator, an additional electric meter, three remodeled powered outbuildings, roadside signage, a rainwater catchment system, and a pull-through RV shelter with full hookups.
The property is set on 22 acres and is described as being within 15 minutes of Fredericksburg’s historic Main Street and Enchanted Rock State Natural Area. The land has rolling and rocky terrain, an unnamed seasonal creek, dark skies, native grasses and wildflowers, more than 20 identified native hardwood species, abundant wildlife, and a recognized pollinator habitat.
The seller notes the buyer may divide and maintain agriculture tax exemption status, and the property is currently under wildlife management tax exemption.
The property is set on 22 acres and is described as being within 15 minutes of Fredericksburg’s historic Main Street and Enchanted Rock State Natural Area. The land has rolling and rocky terrain, an unnamed seasonal creek, dark skies, native grasses and wildflowers, more than 20 identified native hardwood species, abundant wildlife, and a recognized pollinator habitat.
The seller notes the buyer may divide and maintain agriculture tax exemption status, and the property is currently under wildlife management tax exemption.
Key Highlights
- 22 unrestricted acres in the Texas Hill Country, with an existing 3BR/2BA residence and expansive covered decks
- Pull‑through RV shelter with full hookups, plus a backup generator and additional electric meter
- Metal building with slab and roll‑up doors, along with a 2‑car carport and roadside signage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,245
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,424,900
$1.4M
Cap Rate 7%
$1,017,786
$1.0M
Cap Rate 9%
$791,611
$791.6K
Market Conditions
NOI Build-Up for 1,344 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$161.3K $120.00/SF
− Vacancy
−$11.3K −$8.40/SF
EGI
$150.0K $111.60/SF
− OpEx
−$78.7K −$58.59/SF
NOI
$71.2K $53.01/SF
Area
Gillespie County, TX
Vacancy
7.00%
Lease Rate
$120.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,424,900
Cap Rate 7%
$1,017,786
Cap Rate 9%
$791,611
Alternative Uses
Best Use
Hotel Hospitality
$1.02M
$890.6K – $1.19M
NOI $71,245 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$134.9K
$118.1K – $157.4K
NOI $9,445 @ 7.0% cap · market cap 1.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Unrestricted resort ranch with a 3BR/2BA residence and a pull-through RV shelter with full hookups.
Where is this resort located?
The property is located at 7991 Ranch Road 965 Fredericksburg, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 22 unrestricted acres in the Texas Hill Country, with an existing 3BR/2BA residence and expansive covered decks; Pull‑through RV shelter with full hookups, plus a backup generator and additional electric meter; Metal building with slab and roll‑up doors, along with a 2‑car carport and roadside signage
