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    Waterfront Homesite in Gated Community Title is generated by Realmo AI

    Ruby Way, Malakoff, TX 75148

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    Claim this Listing
    Pending
    $422,096

    LAND - Malakoff, TX

    Lot size:
    0.32 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 7 at 6:06 am

    Property Features for Ruby Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    200054428
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Description
    AB 697 M M SANCHEZ SUR EMERALD BAY LOT 35 H/379

    Utilities

    Sewer type
    Private Sewer
    Water source
    Private
    Water front features
    Waterfront, Canal Access, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Donna Smith
    Donna Smith

    Listing agent Donna Smith License #0816690

    Listing office Duggan Realty Advisors L.L.C. Plano, TX

    Listing date Apr 24, 2026

    MLS# 20976278 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

    • Lot #35 offers 88 ft of waterfront on Cedar Creek Lake.
    • Emerald Bay subdivision is a gated community with only 71 exclusive homesites on 44 acres.
    • Community amenities include a swimming pool, pickleball courts, basketball courts, playground, and fire pit.
    • Utilities and infrastructure include concrete roads, curb and gutter, underground utilities, and street lighting.
    • Private services available: private water, private sewer, and fiber optic connections.
    • Pinnacle Golf Club is about a 10‑minute drive away (18‑hole championship course).

    Overview

    This for-sale waterfront homesite (Lot #35) offers approximately 88 feet of water frontage within Emerald Bay at Cedar Creek Lake. The property is part of a planned community with deed restrictions and architectural guidelines for builders, giving owners a controlled, cohesive development standard. The lot size is listed at 0.323 acres.

    Emerald Bay is a gated community featuring concrete roads with curb and gutter, underground utilities, street lighting, private water and sewer, and fiber optic connections. Community amenities include a swimming pool, pickleball courts, basketball courts, a playground, fire pit gathering areas, and golf cart trails throughout the neighborhood. Emerald Bay is described as a little over an hour east of downtown Dallas, and Pinnacle Golf Club is noted as about a 10-minute drive away.

    For buyers, this setting is well-suited to someone planning a custom home with direct lake lifestyle access while benefiting from a full suite of on-site amenities and a regulated building framework. The waterfront positioning and established community infrastructure make the homesite attractive for residential development with an emphasis on leisure, recreation, and long-term enjoyment. Inquire to learn about the sellers concession mentioned with the offering.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Malakoff
    County
    Henderson
    State
    Texas
    Longitude
    -96.03880128
    Latitude
    32.20719396

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    FAQs

    What type of property is this?
    Waterfront Land - Build on a Cedar Creek Lake waterfront homesite with community amenities, private utilities, and a gated, planned environment.
    Where is this waterfront land located?
    The property is located at Ruby Way Malakoff, TX.
    What is the asking price?
    The asking price for this property is $422,096.
    What are key features of this property?
    This property features: Lot #35 offers 88 ft of waterfront on Cedar Creek Lake.; Emerald Bay subdivision is a gated community with only 71 exclusive homesites on 44 acres.; Community amenities include a swimming pool, pickleball courts, basketball courts, playground, and fire pit.
    (972) 980-9686
    We can help!
    Listing Contact
    Donna Smith
    Donna Smith
    Real Estate License ID: 0816690
    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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