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    Waterfront RV Park Land with Cabin Title is generated by Realmo AI

    848 Oak Point Drive, May, TX 76857

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    Claim this Listing
    For Sale
    $219,995

    LAND - May, TX

    Lot size:
    0.73 Acres
    Added:
    Feb 27, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 3 at 4:06 am

    Property Features for 848 Oak Point Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    RV
    Standard status
    Active
    APN
    000000075981
    Lot size
    0.73 Acres

    Taxes and HOA fees

    Tax Description
    OAK POINT PHASE TWO, LOT 710-714, ACRES 0.732
    Tax Annual Amount
    1741

    Utilities

    Heating system
    Propane (Heating)
    Cooling system
    Window Unit(s)
    Water front features
    Waterfront, Creek
    Water front
    1

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Jordan Barton

    Listing agent Jordan Barton License #0769808

    Listing office Turnkey Realty LLC Odessa, TX

    Listing date Feb 27, 2026

    MLS# 20629686 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

    • Waterfront property with a creek on site
    • 2008‑built cabin about 400 SF, furnished and grandfathered into community rules
    • Includes RV/motor home in the sale with a propane tank and large water storage tank
    • 5 lots included, offering separate space for friends and family and RV parking
    • Two electrical hookups on site
    • Includes 2 sheds: one large for storing multiple 4 wheelers and other toys, plus a second shed for yard equipment

    Overview

    Rare waterfront land in the Oak Point community, presented with a cabin that has been grandfathered under current rules. The property includes five lots for RV parking, along with two electrical hookups on site for convenience. A furnished cabin of approximately 400 square feet is included, and the motor home is also part of the sale, along with a propane tank and a large water storage tank.

    Located in the community of Oak Point, this is an uncommon combination because structures like the cabin are not allowed on RV lots under current community rules and regulations. The site is set up to accommodate multiple vehicles and outdoor gear, with two sheds on site. One shed is large enough for storing multiple four-wheelers and other toys, while the second shed is suitable for yard equipment or additional storage.

    For buyers seeking a private waterfront retreat or a small group setup for visiting family and friends, this configuration offers practical flexibility with dedicated lots, utility hookups, and covered storage. The inclusion of the furnished cabin and current RV-related improvements can support immediate personal use, while still retaining the value of waterfront land within the community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    May
    County
    Brown
    State
    Texas
    Longitude
    -99.007186
    Latitude
    31.876425

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    FAQs

    What type of property is this?
    Mobile home & RV park - A rare waterfront offering with a furnished cabin and multiple RV-ready lots, plus essential utilities and storage on site.
    Where is this mobile home & rv park located?
    The property is located at 848 Oak Point Drive May, TX.
    What is the asking price?
    The asking price for this property is $219,995.
    What are key features of this property?
    This property features: Waterfront property with a creek on site; 2008‑built cabin about 400 SF, furnished and grandfathered into community rules; Includes RV/motor home in the sale with a propane tank and large water storage tank
    (432) 349-6667
    We can help!
    Listing Contact
    Jordan Barton
    Real Estate License ID: 0769808
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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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