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    Lakefront Residential Homesite Land Title is generated by Realmo AI

    Richland Court lot 53, Corsicana, TX 75109

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    Claim this Listing
    New
    For Sale
    $225,000

    LAND - Corsicana, TX

    Lot size:
    1.38 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 8:06 am

    Property Features for Richland Court lot 53

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Cleared
    Standard status
    Active
    APN
    115544
    Lot size
    1.38 Acres

    Taxes and HOA fees

    Tax Description
    R1050 RICHLAND PARK LOT 53 1.38 ACRES
    Tax Annual Amount
    5046

    Utilities

    Water front features
    Lake Front, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Julie Teel

    Listing agent Julie Teel License #0380798

    Listing office RE/MAX Lakeside Dreams Corsicana, TX

    Listing date Jun 3, 2026

    MLS# 21285018 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

    • 1.38‑acre lakefront homesite in Richland Park (gated HOA) on Richland Chambers Lake near Corsicana, TX
    • Approximately 322 ft of platted waterfront boundary with lake views and mature trees
    • Lot 53 is located at the end of a quiet cul‑de‑sac with gentle slope and open grassy space
    • Dock permission available for a potential connection to the water for boating, fishing, and kayaking
    • Richland Park HOA amenities include community boat ramp, marina and community dock access, clubhouse, pool, park, and fishing areas
    • Co‑op water and electric available; underground utilities and paved private roads in place

    Overview

    This offering is a 1.38-acre waterfront residential homesite in a gated HOA community on Richland Chambers Lake. Lot 53 is situated at the end of a quiet cul-de-sac and features a gentle slope, mature trees, open grassy space, and lake views. The lot includes approximately 322 feet of platted waterfront boundary, along with dock permission that allows for a private connection to the water. Co-op water and electric are available, and underground utilities with paved private roads are already in place.

    Richland Park is described as a gated community near Corsicana in Navarro County, with access to lake-focused common amenities. The HOA provides a community boat ramp, marina and community dock access, clubhouse, community pool, park and playground, fishing areas, and walking and biking paths, as well as lakeside gathering spaces.

    This property is a strong fit for buyers looking to build a primary home, retirement retreat, or weekend getaway where recreation and direct lake access are part of the community design. With substantial platted waterfront and the ability to pursue dock improvements, it supports a waterfront lifestyle plan while leveraging existing utility and road infrastructure within the HOA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.3417
    Latitude
    32.0533

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    FAQs

    What type of property is this?
    Waterfront Land - Build a lakefront residence on an interior lot with platted waterfront frontage and dock permission in a gated HOA community.
    Where is this waterfront land located?
    The property is located at Richland Court lot 53 Corsicana, TX.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: 1.38‑acre lakefront homesite in Richland Park (gated HOA) on Richland Chambers Lake near Corsicana, TX; Approximately 322 ft of platted waterfront boundary with lake views and mature trees; Lot 53 is located at the end of a quiet cul‑de‑sac with gentle slope and open grassy space
    (903) 874-0001
    We can help!
    Listing Contact
    Julie Teel
    Real Estate License ID: 0380798
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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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