Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Lakefront Residential Lot Title is generated by Realmo AI

    CR 1503, Alba, TX 75410

    View on Map
    Claim this Listing
    For Sale
    $219,900

    LAND - Alba, TX

    Lot size:
    0.52 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 7 at 2:06 am

    Property Features for CR 1503

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    711844
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Description
    Lot 23, .521 Little Mustang Cove Subdivision

    Utilities

    Water front features
    Creek, Lake Front, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Judy Venable-Grogan

    Listing agent Judy Venable-Grogan License #0153915

    Listing office RealEdge Real Estate Tyler, TX

    Listing date Mar 3, 2026

    MLS# 21195081 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 lot on Little Mustang Cove in the Lake Fork Reservoir with lakefront and creek waterfront features
    • 0.52‑acre lot with 105 ft of frontage at the front of the lot
    • Front of the lot is flat and slopes down to the water’s edge
    • Includes a spring‑filled area leading to the edge of the water
    • Access is available off I‑20 via Hwy 69
    • Deed restrictions and plat available in the provided documents

    Overview

    This waterfront lot on Little Mustang Cove in the Lake Fork Reservoir is designed for a future residence with the site’s natural grades working in your favor. The front of the property is flat and transitions into a wooded area that slopes down toward the water’s edge, where a spring-filled area leads to the shoreline.

    The lot is located off I-20 via Hwy 69, offering straightforward access for weekend visits and ongoing travel. The water is reached at the cove, which is noted in the listing for strong fishing opportunities and a variety of popular fish species. The property is described as having 0.52 acres with 105 feet of frontage, and the buyer should review the provided deed restrictions and the plat for additional site guidance.

    For buyers planning a custom home, this setting provides an established waterfront landscape with both buildable front area and direct cove access. It may also appeal to those prioritizing fishing recreation and a quiet residential feel, with the understanding that deed restrictions will govern development decisions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Alba
    County
    Wood
    State
    Texas
    Longitude
    -95.632696
    Latitude
    32.839751

    Nearby Similar for Sale

    • $1,250,000
      2,128 SF

      Horse Ranch Land with Barn

      Mostly open pasture in Ag-exempt Rains County, with barn, wash bay, arena, shop, and a well-kept residence.
      500 Rs County Road 2370, Alba, TX 75410
      View Details
    • $160,000

      Unrestricted Highway Frontage Land

      Unrestricted 7.05-acre tract with partial fencing and Highway 69 frontage, suited for commercial or mixed-use development.
      HWY 69, Alba, TX 75410
      View Details
    • $160,000

      Unrestricted Highway Frontage Land

      Unrestricted 7.05-acre tract on Hwy 69 with strong visibility and flexible development options.
      Highway 69, Alba, TX 75410
      View Details
    • $159,000

      Commercial Land with Highway Frontage

      Flat, cleared commercial lot with substantial Highway 69 frontage and owner financing available.
      329 E Greenville Street, Alba, TX 75410
      View Details
    • $185,000

      Multi-Site Development Land Tract

      Versatile acreage with partial clearing, mature trees, and pond features—positioned with direct highway access outside city limits.
      Hwy 69, Alba, TX 75410
      View Details
    • $169,500

      6.4 Acres Unimproved Land

      6.4 acres of land with utilities near Emory and Mineola.
      S HWY 69, Alba, TX 75410
      View Details
    • $169,500

      6.4 Acres on HWY 69

      6.4 acres with utilities and pond near Alba, Texas.
      S HWY 69, Alba, TX 75410
      View Details
    • $104,999

      Land Near Lake Fork

      2.226-acre tract near Lake Fork, perfect for building.
      1821 County Road 1570, Alba, TX 75410
      View Details
    • $184,999

      Unrestricted Acreage with Metal Shop

      Over six acres with a 40x38 metal shop, concrete floors, utilities for RV use, and a wooded rear section.
      797 County Road 2958, Alba, TX 75410
      View Details
    • $139,000

      Recreational Land with Private Pond

      Build opportunities on farmland with a pond and stream, plus recreation and hay potential near Lake Fork.
      423 County Road 1560, Alba, TX 75410
      View Details
    • $135,000

      Unrestricted Commercial Land with Workshop

      Unrestricted acreage with FM frontage, a new 520 SF framed building, utilities, pond, and storage/workshop structure.
      9696 Fm-515, Alba, TX 75410
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - A lakefront parcel with flat build-ready frontage, wooded slope, and spring-fed water access on Little Mustang Cove.
    Where is this waterfront land located?
    The property is located at CR 1503 Alba, TX.
    What is the asking price?
    The asking price for this property is $219,900.
    What are key features of this property?
    This property features: Waterfront lot on Little Mustang Cove in the Lake Fork Reservoir with lakefront and creek waterfront features; 0.52‑acre lot with 105 ft of frontage at the front of the lot; Front of the lot is flat and slopes down to the water’s edge
    (903) 561-0000
    We can help!
    Listing Contact
    Judy Venable-Grogan
    Real Estate License ID: 0153915
    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
    CR 1503, Alba, TX 75410
    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!