1050 Hawk Ln New Home, TX 79381
This exceptional 84-acre tract presents a unique opportunity for residential development in the highly sought-after New Home Independent School District of Lynn County, Texas. Located on FM 1730 (Slide Road), this property sits conveniently between Lubbock and New Home, approximately three miles north of New Home and four miles south of Lubbock's city limits. The Palms at Kitty Hawk subdivision is already established, and this offering represents Phase 2, with pre-engineering and a pre-plat already completed for approximately 46 lots ranging from one to over 1.5 acres. All engineering and pre-platting materials will transfer to the buyer upon closing, streamlining the development process. The property boasts strong groundwater availability, suitable for wells, and while septic systems will be necessary, the rural subdivision zoning allows for strip paving, eliminating the need for curb and gutter. This presents a significant advantage, reducing infrastructure costs. The New Home School District is highly rated, serving students from pre-kindergarten through 12th grade, with a favorable student-teacher ratio of 12:1. This makes the location particularly attractive to families seeking a smaller, rural community with excellent schools. The asking price is $2,100,000, translating to $25,000 per acre. This land is zoned SFR (Single Family Residential), making it ideal for creating a thriving residential community.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
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Property description
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