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    Recreational Land with Two Ponds Title is generated by Realmo AI

    County Road 4698, Boyd, TX 76023

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    Claim this Listing
    For Sale
    Under Contract
    $775,000

    LAND - Boyd, TX

    Lot size:
    61.34 Acres
    Added:
    May 27, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for County Road 4698

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    783224
    Lot size
    61.34 Acres

    Taxes and HOA fees

    Tax Description
    Tract 3 & 4 A-842 T & PRR 31.5 + 29.84 ACRES
    Tax Annual Amount
    23

    We can help!

    Listing Contact
    Sean Sullivan

    Listing agent Sean Sullivan License #0457175

    Listing office Sullivan Real Estate Fort Worth, TX

    Listing date May 27, 2026

    MLS# 21054031 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

    • 61.34‑acre recreational tract in southern Wise County, midway between Azle and Springtown, just north of CR 2048
    • Includes two parcels and offers a mix of open areas and mature woods with large, towering trees
    • Two ponds on‑site for water features and potential livestock use
    • Qualifies for agricultural exemption
    • Mineral rights are available
    • Owner financing available

    Overview

    This offering presents recreational land well-suited for outdoor use, featuring two ponds and a mix of open areas and mature woods. Large, towering trees add cover and character across the property, creating a natural setting for hunting and general recreation. The land is also described as suitable for deer and turkey hunting, along with grazing cattle, giving it flexibility for buyers seeking multiple uses. Additionally, the property currently qualifies for an agricultural exemption, and mineral rights are available.

    The parcels are located in southern Wise County, positioned midway between Azle and Springtown and just north of CR 2048. The property is accessed via County Road 4698. The two-parcel structure totals 61.34 acres of versatile outdoor space.

    For buyers, the combination of ponds, wooded areas, and open ground makes this a strong fit for an investment in hunting recreation or diversified land use. Agricultural exemption status may be attractive for qualified owners looking to maintain that benefit. With mineral rights available and room to support grazing or other development concepts, the property can also appeal to those planning a longer-term hold with adaptable options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Boyd
    County
    Wise
    State
    Texas
    Longitude
    -97.654429
    Latitude
    33.043343

    Nearby Similar for Sale

    • $2,600,000

      Recreational Hunting Tract with River Frontage

      Sizable Wise County tract with Trinity River frontage, open pasture, and wildlife habitat for hunting, hay, or grazing uses.
      Abel Lane, Boyd, TX 76023
      View Details
    • $1,685,315

      Boyd, TX Ranch Land

      108.73 acres with highway frontage and mature timber.
      Hwy 114, Boyd, TX 76023
      View Details

    FAQs

    What type of property is this?
    Hunting land - 61+ acres in Wise County offering two ponds, open areas, and mature woods for hunting, grazing, or future development.
    Where is this hunting land located?
    The property is located at County Road 4698 Boyd, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: 61.34‑acre recreational tract in southern Wise County, midway between Azle and Springtown, just north of CR 2048; Includes two parcels and offers a mix of open areas and mature woods with large, towering trees; Two ponds on‑site for water features and potential livestock use
    (817) 992-7911
    We can help!
    Listing Contact
    Sean Sullivan
    Real Estate License ID: 0457175
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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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