170 CR 505
About This Property
The home has been thoughtfully updated with a durable metal roof, Hardie board siding with attractive stone skirting, upgraded kitchen cabinetry, a welcoming covered front porch, and a covered back patio for relaxing and entertaining.
Outside, you'll find an impressive array of improvements, including a strong water well, barn, storage buildings, and a small stock tank. The beautifully shaded yard features mature trees, a tranquil koi pond, and established flower beds, creating a peaceful setting around the home.
The land offers an ideal mix of open pasture and dense tree cover, providing excellent grazing opportunities for livestock while supporting abundant wildlife habitat. Thick cover and natural browse make this property attractive for deer and other native wildlife, enhancing its recreational appeal.
Fully fenced and cross-fenced, the acreage is well-suited for livestock management and agricultural use. Move-in ready and packed with valuable improvements, this property presents a rare opportunity to own a versatile piece of Texas countryside that combines agricultural productivity, recreational enjoyment, and comfortable country living-all while being conveniently located just minutes from town.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 4, 2026 | Relisted | $399,500 | |
| Relisted | |||
| Aug 1, 2026 | In contract | - | |
| In contract | |||
| Jun 23, 2026 | Listed by Janette Padgett Real Estate | $399,500 | |
| Listed by Janette Padgett Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017