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Palo Pinto 76462
150 Indian Wells Road
$550,000
● House - Off Market

150 Indian Wells Road

Lipan, TX 76462
bedrooms
3 Beds
bathrooms
0 Bath
square feet
2,000 Ft²
$554,282
RealtyHop Estimate
0.78%
Since Jun 1, 2022
National-US
Primary Model

About This Property

You'll Love this 2000 square ft Barndo with a separate 720 sq ft guest apartment, garage-shop, storage building and livestock shed. This perfectly sized property is 7+ acres divided into separate pastures located minutes from Lipan, Hwy 281 and IH-20 making this the perfect location for easy commuting.  Main house is a 3-2 finished with slate tile flooring and rough cedar trim with a large open living area and huge master bed and bath.  The garage-shop apartment includes a living area, bedroom and full bath and can be used as a bunkhouse, guest quarters or in-law suite.  Bring your horses and livestock or put up some quality hay as the entire property is covered in Coastal Bermuda and currently Ag Exempt.
Unit Size
2,000 Ft²
Days on Market
-
Land Size
7.47 acres
Price per sqft
$275
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
2009

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (NTREIS #14708674)

Price History

Date / Event Date Event Price
May 23, 2022 No longer available -
No longer available
May 19, 2022 Sold
Premium
Sold
Apr 29, 2022 In contract -
In contract
Apr 23, 2022 No longer available -
No longer available
Apr 19, 2022 Price Decreased $550,000
↓ $50K (8.3%)
Price Decreased
Show More

Property Highlights

Air Conditioning
Garage

Building Info

Overview

    General

  • Year Built: 2009
  • Effective Year Built: 2009
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 392
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 94,656
  • Lot Size Frontage Feet: 0
  • Total Building Area: 2,728
  • Gross Building Area: 2,728
  • Building Area: 2,728
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 800
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: INDIAN WELLS SUBDIVISION
  • Land Acres: 0000002173
  • Standard Land Use Code: 8008
  • County Land Use Code: E
  • Legal Description 1: INDIAN WELLS SUBDIVISION LOT 14

Neighborhood

  • School District Name: Lipan Independent School District
  • School Tax School District: SNI HPD ESD1
  • Census Tract: 000300

Geography

  • Account Number: R000033602
  • Parcel: 142060083
  • Lot: 14
  • Municipality: LIPAN
  • Latitude: 32.5264
  • Longitude: -98.1139

    Address

  • Full Address: 150 Indian Wls
  • Address - House Number: 150
  • Address - Street Name: Indian
  • Address - Suffix Type: Wls
  • State: TX
  • City Name: Lipan
  • Carrier Code: R002
  • 4-Digit Zip Code: 1202
  • Zip Code: 76462

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $689,928
  • Tax Rate Code Area: CAD 182 SN

    Market Valuation

  • Market Total Value: $18,770

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $18,770

    Sales

  • Current Sale Contract Date: May 19, 2022
  • Current Sale Recording Date: May 20, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 3786
  • Previous Sale Recording Date: Sep 24, 2014
  • Previous Sale Contract Date: Sep 22, 2014
  • Previous Sale Amount: $212,500
  • Previous Sale Document Type: 70
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Palo Pinto

Stats & Trends

Median Asking:

$399,000

Sale Price/ft²

$223

Below Asking

0.03%

Average Days on Market

84

Average Home Size

2259 ft²

Average Home Age

-

Currently For Sale

287 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Currently no nearby rentals
NTREIS

Listed by: Brad Harrison, CLARK REAL ESTATE GROUP
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 14708674
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 150 Indian Wells Road built and last sold?
The property at 150 Indian Wells Road was built in 2009 and last sold on May 19, 2022 for $585,200.
How much is this home worth?
The estimated value of the home located at 150 Indian Wells Road is $555,500.
What are some comparable homes to 150 Indian Wells Road?
There are currently no comparable homes to 150 Indian Wells Road.
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