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    Deed-Restricted Custom Home Lot Title is generated by Realmo AI

    Lee Drive, Murchison, TX 75778

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    Claim this Listing
    For Sale
    $140,000

    LAND - Other - Murchison, TX

    Lot size:
    8.00 Acres
    Added:
    Mar 9, 2026
    Days on Market:
    87
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for Lee Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    084704200A9010
    Lot size
    8.00 Acres

    Taxes and HOA fees

    Tax Description
    AB 847 A YORK SUR, (PT OF 15.0 A

    Building Details

    Year built
    2018
    Architectural style
    Other

    We can help!

    Listing Contact
    Drew Douglas
    Drew Douglas

    Listing agent Drew Douglas License #0303266

    Listing office Steve Grant Realty LLC Athens, TX

    Listing date Mar 9, 2026

    MLS# 21035276 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

    • 8‑acre tract in the Echo Creek Country Club area with a mix of open pasture and mature trees
    • Gently rolling land with multiple potential building sites and scenic views
    • Utilities are available for building a custom home
    • Deed restrictions require site‑built homes only; no mobile or manufactured homes allowed
    • Rural community setting with convenient access to nearby towns, lakes, and recreational amenities

    Overview

    This offering is an approximately 8-acre tract of land with a scenic mix of open pasture and mature trees. The property sits with gently rolling terrain and offers multiple prime building sites, including options for enjoying open views. Utilities are available, supporting plans for a custom, site-built home. The land is also deed restricted to site-built homes only, with no mobile or manufactured homes permitted.

    Located in the Echo Creek Country Club area near Murchison, the tract is positioned for privacy and a rural setting. It provides convenient access to nearby towns, lakes, and recreational amenities, making it well suited for residents who want space while still staying close to daily conveniences.

    For buyers, this property fits well for those looking to design and build on their preferred portion of the site, taking advantage of the mature tree coverage and open areas. The deed restriction helps protect the neighborhood character for future development, while the multiple building sites and available utilities make it practical for building now or holding as a longer-term investment in a sought-after rural community.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Murchison
    County
    Henderson
    State
    Texas
    Longitude
    -95.65969808
    Latitude
    32.24165699

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    FAQs

    What type of property is this?
    Residential land & home lot - Gently rolling, tree-lined acreage with multiple building sites and utilities available for a site-built home only.
    Where is this residential land & home lot located?
    The property is located at Lee Drive Murchison, TX.
    What is the asking price?
    The asking price for this property is $140,000.
    What are key features of this property?
    This property features: 8‑acre tract in the Echo Creek Country Club area with a mix of open pasture and mature trees; Gently rolling land with multiple potential building sites and scenic views; Utilities are available for building a custom home
    (903) 675-3503
    We can help!
    Listing Contact
    Drew Douglas
    Drew Douglas
    Real Estate License ID: 0303266
    Learn More
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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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