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    Turnkey High-Fenced Ranch Property Title is generated by Realmo AI

    Buffalo4 Ranch County Road 290, Blackwell, TX 79506

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    Claim this Listing
    For Sale
    $6,100,000

    LAND - Blackwell, TX

    Lot size:
    1,137.00 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    115
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for Buffalo4 Ranch County Road 290

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Exterior features
    FirePit
    Fencing
    Fenced
    Standard status
    Active
    APN
    N1174000101
    Lot size
    1,137.00 Acres

    Taxes and HOA fees

    Tax Description
    WHEELER T W BLK 0 SEC 000
    Tax Annual Amount
    10820

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Well

    Building Details

    Year built
    2022
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Matt Milligan
    Matt Milligan

    Listing agent Matt Milligan License #0500456

    Listing office Trinity Country Real Estate Weatherford, TX

    Listing date Feb 11, 2026

    MLS# 21140906 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

    • 1,137+ acres in high‑fenced Buffalo 4 Ranch in Blackwell, TX (Nolan & Runnels Counties) with ranch road system and full perimeter fencing
    • Water system includes 7 ponds, 2 electric water wells feeding filtration systems (for both homes), and 3 solar wells feeding troughs throughout the ranch
    • Wildlife and habitat: 380 ft elevation change, rolling hills, mature oak motts, mesquite/cedar, diverse grasses, and approx. 150 acres of established food plots
    • Main home is 2,214 sq ft built in 2022 with 18 ft ceilings, quartz countertops, custom finishes, and mud/utility rooms
    • Second home is 1,683 sq ft built in 2017 with granite counters, knotty alder cabinets, stained concrete floors, new HVAC, and a full‑length back porch
    • Ranch infrastructure includes 13 corn feeders, 12 protein feeders, 11 hunting stands, a tractor‑equipment barn, and a 37×40 insulated garage

    Overview

    Buffalo 4 Ranch is a turnkey high-fenced game ranch on 1,137+ acres in Blackwell, Texas. The property features rolling hills with mature oak motts, mesquite, cedar, and plum thickets, along with diverse grasses and approx. 150 acres of established food plots. Elevation change across the ranch reaches about 380 feet, supporting varied habitat and cover.

    Water availability is a key asset, with seven ponds plus two electric water wells, each tied to filtration systems for the homes. Three solar wells feed troughs throughout the ranch, and the perimeter is fully fenced with high fencing for controlled wildlife management. Ranch infrastructure includes 13 corn feeders, 12 protein feeders, and 11 hunting stands, supported by a built interior road system.

    Improvements are designed to support both day-to-day operations and guest hosting. The main home is a 2,214 sq ft residence built in 2022 with luxury lodge-style details, including 18-foot ceilings, quartz countertops, custom finishes, and a 37’x40’ insulated garage with commercial refrigeration and ice equipment. A second 1,683 sq ft home built in 2017 adds additional lodging. The ranch also includes a covered processing area with freezer capacity, a tractor-equipment barn, fuel tanks, and split feed silo, making the property well suited for buyers seeking a ready-to-operate, wildlife-focused ranch.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Blackwell
    County
    Nolan
    State
    Texas
    Longitude
    -100.337
    Latitude
    32.118

    FAQs

    What type of property is this?
    Ranch - Turnkey game ranch with high fencing, multiple water sources, and established feed and hunting infrastructure for serious hunters.
    Where is this ranch located?
    The property is located at Buffalo4 Ranch County Road 290 Blackwell, TX.
    What is the asking price?
    The asking price for this property is $6,100,000.
    What are key features of this property?
    This property features: 1,137+ acres in high‑fenced Buffalo 4 Ranch in Blackwell, TX (Nolan & Runnels Counties) with ranch road system and full perimeter fencing; Water system includes 7 ponds, 2 electric water wells feeding filtration systems (for both homes), and 3 solar wells feeding troughs throughout the ranch; Wildlife and habitat: 380 ft elevation change, rolling hills, mature oak motts, mesquite/cedar, diverse grasses, and approx. 150 acres of established food plots
    (817) 594-8183
    We can help!
    Listing Contact
    Matt Milligan
    Matt Milligan
    Real Estate License ID: 0500456
    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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