Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Small Acreage Land Tract with Views Title is generated by Realmo AI

    Old Joy Shannon lot 5, Bluegrove, TX 76352

    View on Map
    Claim this Listing
    For Sale
    $109,120

    LAND - Bluegrove, TX

    Lot size:
    13.64 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for Old Joy Shannon lot 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Brush
    Standard status
    Active
    APN
    99999
    Lot size
    13.64 Acres

    We can help!

    Listing Contact
    Bruce Furgerson

    Listing agent Bruce Furgerson License #0369856

    Listing office Parker Properties Real Estate Decatur, TX

    Listing date Apr 21, 2026

    MLS# 20007938 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

    • 13.64‑acre tract of land in Texas ranch country
    • NO HOA and no size restrictions reported; minimal restrictions stated
    • Electricity available along the road
    • County‑maintained road access
    • In an area of good water wells

    Overview

    This offering presents 13.64 acres of land in a rural setting, suited for buyers looking for space to build a personal residence. The property is described as being in the middle of larger ranch country, with views of the surrounding Texas landscape and abundant local wildlife. The tract is positioned as a flexible option, with minimal restrictions, no HOA, and no size restrictions, allowing you to choose a home and site plan that fits your plans.

    Access is supported by a county-maintained road. Electricity is available along the road, which can help simplify early site planning. The area is noted as being one where good water wells are available, offering another practical consideration for prospective homeowners or operators evaluating off-grid and rural setups.

    For those seeking a custom build opportunity, this tract offers a balance of privacy and affordability while remaining workable for a typical residential use. The combination of minimal restrictions, room for animals, and rural views makes it especially well matched for families and buyers who want a straightforward path to developing a small acreage home site in ranch country.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Bluegrove
    County
    Clay
    State
    Texas
    Longitude
    -98.2298
    Latitude
    33.6736

    FAQs

    What type of property is this?
    Residential land & home lot - A rare, affordable acreage tract with county road access, electricity nearby, and minimal restrictions—ideal for a custom home site.
    Where is this residential land & home lot located?
    The property is located at Old Joy Shannon lot 5 Bluegrove, TX.
    What is the asking price?
    The asking price for this property is $109,120.
    What are key features of this property?
    This property features: 13.64‑acre tract of land in Texas ranch country; NO HOA and no size restrictions reported; minimal restrictions stated; Electricity available along the road
    (940) 627-9040
    We can help!
    Listing Contact
    Bruce Furgerson
    Real Estate License ID: 0369856
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Old Joy Shannon lot: 5, Bluegrove, TX 76352
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!