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    Productive Dry Land Farmland Tract Title is generated by Realmo AI

    County Rd 81 S, Vernon, TX 76384

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    Claim this Listing
    For Sale
    $195,000

    LAND - Vernon, TX

    Lot size:
    120.00 Acres
    Added:
    May 18, 2026
    Days on Market:
    18
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for County Rd 81 S

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Crops
    Standard status
    Active
    APN
    6838001
    Lot size
    120.00 Acres

    Taxes and HOA fees

    Tax Description
    ABST 961 BLK 16 SEC 50 H&TC PVT ROAD NORTH OF
    Tax Annual Amount
    104

    We can help!

    Listing Contact
    Benjamin Belew

    Listing agent Benjamin Belew License #0562157

    Listing office Legacy Properties Vernon, TX

    Listing date May 18, 2026

    MLS# 20571282

    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

    • 120 +/- acre farm in Wilbarger County, TX, west of Vernon
    • 114.46 cultivatable acres plus 5.49 acres in a grass waterway along the north side
    • Dry land farm with no irrigation; currently growing winter wheat and cotton and production varies with annual rainfall
    • Legal access via a 20‑ft wide deeded access easement from the south; also uses an existing gravel oil field road from the east
    • Lease/share arrangement: one‑fifth of gross crop production to landowner with no crop expenses; convertible to $25/acre annual cash rent ($3,000/year)
    • No mineral rights owned; property includes two oil wells with tank batteries on the far north end

    Overview

    This productive farmland tract totals 120+/- acres and includes 114.46 cultivatable acres, plus 5.49 acres of grass waterway along the north side. The property is dry land, with no irrigation, so crop production can vary based on annual rainfall. Currently, the land is planted in winter wheat and cotton and is operated under a farming lease that can remain in place with a new owner if desired. No improvements or structures are present.

    Legal access is provided via a 20-foot wide deeded access easement entering from the south. The easement runs along the side of a neighboring field and is not currently developed as a road, though the owner has additional entry from the east using an existing gravel oil field road allowed by that neighbor.

    For investors or operators seeking productive farmland with flexible lease structure, the current share crop arrangement provides landowner participation of one-fifth of gross crop production, with no crop expenses due from the landowner. It may also be converted to an annual cash lease of $25 per acre. The property has two oil wells with tank batteries located on the far north end, positioned so they do not interfere with farm production. No mineral rights are owned, so there are none to convey.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Kitchen & Bath Showroom Storage Facility Garden Center Electrical Service Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Wilbarger
    State
    Texas
    Longitude
    -99.453305
    Latitude
    34.160774

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Dry land acres support winter wheat and cotton, with deeded access easing entry and continuing tenant options.
    Where is this agricultural land / farmland located?
    The property is located at County Rd 81 S Vernon, TX.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: 120 +/- acre farm in Wilbarger County, TX, west of Vernon; 114.46 cultivatable acres plus 5.49 acres in a grass waterway along the north side; Dry land farm with no irrigation; currently growing winter wheat and cotton and production varies with annual rainfall
    (940) 357-9940
    We can help!
    Listing Contact
    Benjamin Belew
    Real Estate License ID: 0562157
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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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