TBD Lot 2 Bluebonnett Lane
About This Property
The property features mostly open, usable land with ample space to thoughtfully position a home, outdoor living areas, shop or other improvements. Mature trees add character to the property and provide an attractive natural element for incorporating shade and landscaping into a future homesite. The setting offers the feel of country living while being surrounded by established acreage properties and attractive residential development. The rear of the property adjoins the Rancho Lorena subdivision, adding to the appealing residential character of the area.
Located in the highly rated Lorena Independent School District, the property is also within the City of Waco ETJ, with water available through the City of Waco. Buyers can enjoy the flexibility of a larger homesite without giving up convenient access to Lorena, Waco, shopping, dining, employment centers and other area amenities.
Additional adjoining lots are also being offered for sale, creating a unique opportunity for buyers seeking more acreage. Purchase Lot 2 individually or combine it with one or more of the adjoining available lots for additional space, privacy, a larger homesite or future possibilities. Lots may be purchased together as long as the desired adjoining lots remain available.
Whether you're ready to build now or looking for the right piece of land for your future plans, this approx. 1.25-acre Lorena property offers space, flexibility and an attractive location in Lorena ISD. Bring your plans and envision the possibilities!
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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 5, 2026 | In contract | - | |
| In contract | |||
| Aug 13, 2026 | Listed by Bramlett Partners | $125,000 | |
| Listed by Bramlett Partners | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017