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    Waterfront Resort Land Parcel Title is generated by Realmo AI

    Forest Hills Drive lot 3, Gordonville, TX 76245

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    Claim this Listing
    For Sale
    $55,000

    LAND - Gordonville, TX

    Lot size:
    0.25 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    135
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for Forest Hills Drive lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    372971
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    PALISADES ADDITION III, BLOCK E LOT 3 ACRES 0.252

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Sarah Laos
    Sarah Laos

    Listing agent Sarah Laos License #0634004

    Listing office Ready Real Estate LLC Fort Worth, TX

    Listing date Jan 22, 2026

    MLS# 21156436 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

    • Wooded 0.25‑acre lot in the Palisades III addition
    • Minimum 2,400 sq ft building requirement
    • Lakeside lot close to the lake, docks, and picnic area
    • Rock Creek Resort amenities include a Jack Nicklaus‑designed golf course
    • Community features include a bar and grill, pro shop, fitness center, tennis courts, and pool
    • Rock Creek Resort also offers a marina and marina store

    Overview

    Offered for sale is a wooded waterfront land parcel located in the Palisades III addition. The lot measures approximately 0.252 acres and is described as being on the lakeside, close to the lake, docks, and a picnic area. The property is within Rock Creek Resort and comes with a minimum building requirement of 2,400 square feet, with no stated time frame to build.

    Rock Creek Resort amenities listed for the community include a Jack Nicklaus-designed golf course, bar and grill, pro shop, fitness center, tennis courts, a pool, marina and marina store. For buyers looking to build either a full-time residence or a vacation home, this location is positioned for easy enjoyment of the resort’s water and outdoor recreation.

    This parcel should appeal to buyers who want a lakeside setting while building a custom home sized for the stated minimum. With the option to build at your convenience and the surrounding resort infrastructure already in place, it offers a practical path to creating a private getaway home within an amenity-rich community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Gordonville
    County
    Grayson
    State
    Texas
    Longitude
    -96.8872
    Latitude
    33.8367

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    FAQs

    What type of property is this?
    Waterfront Land - Wooded lakeside lot within Rock Creek Resort, near docks and recreation amenities, with a build requirement for larger homes.
    Where is this waterfront land located?
    The property is located at Forest Hills Drive lot 3 Gordonville, TX.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: Wooded 0.25‑acre lot in the Palisades III addition; Minimum 2,400 sq ft building requirement; Lakeside lot close to the lake, docks, and picnic area
    (866) 557-3239
    We can help!
    Listing Contact
    Sarah Laos
    Sarah Laos
    Real Estate License ID: 0634004
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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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