Property
Beds
3
Full Baths
2
1/2 Baths
None
Year Built
2008
Sq.Footage
1,349
Income-Producing Property with Room to Grow! Explore the income potential of this versatile 17.281-acre property, featuring an ag exemption, two ponds, cross-fencing, a private well, and multiple income-producing assets, including three apartments, an 8,000-square-foot shop, and RV storage with covered and uncovered spaces. The property includes a 3-bedroom, 2-bathroom, 1,302-square-foot manufactured home with an in-ground pool, carport, a 30-by-40-foot insulated shop, and an additional 750-square-foot shop. The manufactured home, pool, and smaller shops are owner-occupied, but estimated rent potential is around $2,500 per month. A separate, approximately 8,000-square-foot insulated and conditioned shop includes two bathrooms and offers potential for commercial use, with estimated potential rent of $3,500 per month. The apartment area includes two 2-bedroom units and one 1-bedroom unit. Both 2 bed units are rented at $1,350 per month, and the 1-bedroom apartment is leased for $1,250 per month. RV storage provides another income stream, with 24 uncovered spaces offered for $50 per month and 18 covered spaces offered for $85 per month. With the manufactured home, large shop, all three apartments, and all RV spaces rented at the stated rates, this property has the potential to generate over $12,000 per month in gross rental income before expenses, vacancy, and other costs! There’s also potential to expand income by converting covered RV spaces into apartments or adding tiny homes, subject to feasibility and applicable approvals. A unique opportunity to combine acreage, existing rental income, and multiple avenues for future growth. Rental figures and income projections are estimates and should be independently verified. There are several different gated entry points that provide individual access to the different sections of the property.
Features & Amenities
Interior
-
Other Interior Features
Open Floorplan
-
Total Bedrooms
3
-
Bathrooms
2
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Heating YN
YES
-
Heating
Central, Electric
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
5
-
Construction Materials
Stone
-
Parking
Additional Parking, Attached Carport, Carport, Common, Driveway, Electric Gate, Gravel, Guest, Private, RV Access/Parking, RV Carport, RV Gated, Secured, Boat
-
Patio and Porch Features
Covered
-
Pool
Yes
-
Pool Features
In Ground, Outdoor Pool
-
Waterfront YN
NO
Area & Lot
-
Lot Features
Cleared, Wooded, Agricultural, Few Trees, Many Trees
-
Lot Size(acres)
17.281
-
Lot Size(square feet)
752,760
-
Property Type
Residential
-
Property Sub Type
Single Family Residence
Price
-
Sales Price
$860,000
-
Tax Amount
$7,281
-
Financing Options
1031 Exchange, Cash
-
Sq. Footage
1,349
-
Price/SqFt
$637
HOA
-
Association
No
Property Resources
-
Horse Property
YES
School District
-
Elementary School
Houston
-
Middle School
Mineralwel
-
High School
Mineralwel
Property Features
-
Foundation Details
Slab
-
Sewer
Septic Tank
-
Water Source
Public, Well
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Location
County
Palo Pinto
Elementary School
Houston
Middle School
Mineralwel
High School
Mineralwel
Listing Courtesy of Keaton Vaughn, Monument Realty
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AGENT
Joe Boston
Call Joe today to schedule a private showing.
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