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Buddy Priest

buddy@boldtx.com +1(214) 843-6711

$ 860,000

Est. payment | -/mo

3 Beds

2 Baths

1,349 SqFt

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$ 860,000

Est. payment | -/mo

Save Virtual Tour

3 Beds

2 Baths

1,349 SqFt

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 1,349 sqft

MLS Listing ID 21417432

Style Detached,Farmhouse

Bedrooms 3

Full Baths 2

HOA Y/N No

Year Built 2008

Annual Tax Amount $7,281

Lot Size 17.281 Acres

Acres 17.281

Property Sub-Type Apartment

Property Description

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. One 2-bedroom apartment is leased for $1,350 per month, and the 1-bedroom apartment is leased for $1,250 per month. The second 2-bedroom apartment could potentially rent for $1,350 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.

Location

State TX

County Palo Pinto

Direction See GPS.

Rooms

Other Rooms Second Garage, Garage(s), Guest House, Mobile Home, Outbuilding, Other, Second Residence, RV/Boat Storage, See Remarks, Workshop

Interior

Interior Features Open Floorplan, Cable TV

Heating Central, Electric

Cooling Central Air, Electric

Flooring Carpet, Luxury Vinyl Plank

Fireplace No

Appliance Dishwasher, Electric Cooktop, Electric Oven

Exterior

Parking Features Attached Carport, Additional Parking, Common, Carport, Driveway, Electric Gate, Guest, Gravel, Private, RV Carport, RV Gated, Secured, Boat, RV Access/Parking

Garage Spaces 5.0

Carport Spaces 4

Fence Back Yard, Cross Fenced, Fenced, Gate

Pool In Ground, Outdoor Pool, Pool

Utilities Available Electricity Connected, Septic Available, Water Available, Cable Available

Water Access Desc Public,Well

Roof Type Metal

Present Use Agricultural,Pasture

Street Surface Gravel

Porch Covered

Garage Yes

Private Pool No

Building

Lot Description Acreage, Agricultural, Cleared, Pond on Lot, Many Trees, Few Trees

Dwelling Type Apartment,House,Manufactured House

Foundation Slab

Sewer Aerobic Septic, Septic Tank

Water Public, Well

Level or Stories One

Additional Building Second Garage, Garage(s), Guest House, Mobile Home, Outbuilding, Other, Second Residence, RV/Boat Storage, See Remarks, Workshop

Schools

Elementary Schools Houston

Middle Schools Mineralwel

High Schools Mineralwel

School District Mineral Wells Isd

Others

Tax ID 562374

Acceptable Financing Cash, 1031 Exchange

Listing Terms Cash, 1031 Exchange

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21417432

North Texas Real Estate Info Systems (NTREIS) / WACO Association of Realtors

Listed by Keaton Vaughn • Monument Realty

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(214) 843-6711

buddy@boldtx.com

12225 Greenville Ave #110, Dallas, TX 75243

435 Gene Lee RD Mineral Wells, TX 76067