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    Waterfront Land Homesite with Unobstructed Views Title is generated by Realmo AI

    Bay Hill Drive lot 126, Graford, TX 76449

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    Claim this Listing
    For Sale
    $150,000

    LAND - Possum Kingdom Lake, TX

    Lot size:
    0.50 Acres
    Added:
    Dec 19, 2025
    Days on Market:
    168
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for Bay Hill Drive lot 126

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    12236
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 0.499 CLIFFS PHASE I LOT 126 G#C0250-0
    Tax Annual Amount
    866

    Utilities

    Sewer type
    Private Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Melanie Deen

    Listing agent Melanie Deen License #0689427

    Listing office Century 21 Mike Bowman, Inc. Grapevine, TX

    Listing date Dec 19, 2025

    MLS# 21135310 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

    • Homesite in Phase 1 of The Cliffs Resort on Possum Kingdom Lake
    • Located on Bay Hill with sweeping unobstructed views of the Brazos River Valley
    • Private water service and private sewer system
    • Phase 1 setting includes concrete streets and established surroundings
    • Ownership includes access to championship golf
    • Gated security and lake privileges included with ownership in The Cliffs

    Overview

    This waterfront land homesite is positioned in Phase 1 of The Cliffs Resort, where concrete streets and an established setting help define the character of the community. Perched above the Brazos River Valley, the lot is described as offering a sweeping, unobstructed view that is intended to feel both expansive and peaceful. The property is well-suited for a custom home designed to take in the scenery and morning light.

    Located within The Cliffs Resort on Possum Kingdom Lake, the home site sits on Bay Hill, noted for elevation and views. Ownership provides access to championship golf and lake privileges, along with gated security. The overall setting is centered on a lake lifestyle that blends luxury amenities with a more relaxed Texas feel.

    For buyers seeking a premium waterfront homesite rather than an off-the-shelf plan, this is a practical opportunity to build your weekend retreat or full-time residence around the view. The lot’s positioning and resort access make it an appealing choice for anyone looking to design a home specifically to capture the landscape, with community amenities supporting everything from leisure time to everyday convenience.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.428626
    Latitude
    32.853927

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    FAQs

    What type of property is this?
    Waterfront Land - Build-ready homesite within a resort community offering lake privileges, gated security, and sweeping valley views.
    Where is this waterfront land located?
    The property is located at Bay Hill Drive lot 126 Graford, 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: Homesite in Phase 1 of The Cliffs Resort on Possum Kingdom Lake; Located on Bay Hill with sweeping unobstructed views of the Brazos River Valley; Private water service and private sewer system
    (817) 354-7653
    We can help!
    Listing Contact
    Melanie Deen
    Real Estate License ID: 0689427
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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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    Bay Hill Drive lot: 126, Possum Kingdom Lake, TX 76449
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