28205 N US Highway 281
About This Property
±283 acres on US Highway 281, fourteen miles north of Stephenville in Erath County. A legacy ranch tract carved from the historic Jordan Ranch and held in single-family ownership for the past twenty-eight years.
The land has 1,300 feet of US Highway 281 frontage with a gated entrance. Elevation rises from 1,090 to 1,260 feet, with high ground and panoramic views in every direction. Cleared pasture in Coastal Bermuda and native bluestem opens through heavy mature live oak and hardwood timber. Native tree cover includes live oak, post oak, and mesquite. A seasonal creek and natural drainage run through the property. The high ridge at the top of the ranch is locally known as Buck Ridge, named for what comes off it. Multiple build sites with views in every direction.
The land has supported a small cow-calf operation for more than twenty years.
Water comes from one working well producing 12 gallons per minute or better. The well feeds a working windmill that supplies cattle troughs. One spring-fed stock tank.
Wildlife is abundant. Whitetail deer, Rio Grande turkey, and dove are all present, along with coyotes and bobcats. The property has seen very low hunting pressure for the last five years. The current owners have hunted lightly, taken what was needed, and let the rest grow. Existing hunting infrastructure includes two bow stands, one box blind, and three feeders.
The land carries an active agricultural exemption. The Dallas Fort Worth Metroplex is approximately ninety minutes east.
This tract is part of a 319 acre legacy property offered three ways. The custom home is available separately on approximately 36 acres, or with the full 319 acres including the home. For full info visit kdranch.info.
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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%.
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 28, 2026 | Price Decreased |
$3,367,700
↓ $28K
(0.8%) | |
| Price Decreased | |||
| Jun 8, 2026 | Listed by Luxe West Realty | $3,396,000 | |
| Listed by Luxe West Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017