2992 County Road 2400
About This Property
The recently remodeled 1,664± square foot Austin stone home offers 2 bedrooms and 2 bathrooms with numerous updates including a new flooring, paint, doors, plumbing, and HVAC. A two-car attached carport, pipe-fenced yard, towering live oaks, and breathtaking 20-mile views create an exceptional homesite. A Corex water meter is at the house, in addition to the water well.
Designed with livestock in mind, the ranch includes a 44'x44' metal workshop on a concrete slab, covered cattle working facilities, two water wells, a well house, and excellent cross fencing. Three improved Coastal Bermuda fields have consistently produced over seven round bales per acre on the first cutting, while a fourth field is ready for Coastal or winter wheat. Four additional native grass pastures provide an ideal setup for rotational grazing.
A new solar-powered water well supplies three concrete troughs serving both livestock and wildlife. Antelope Creek meanders through the ranch for over 1,900 feet, featuring scenic limestone bluffs, mature pecan trees, and a deep stock pond.
Whether you're looking for a full-time residence, weekend retreat, cattle operation, hay farm, or hunting property, the Shepperd Ranch delivers an exceptional combination of beauty, productivity, and recreation that is difficult to find in this size range.
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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 | Price Decreased |
$1,450,000
↓ $100K
(6.5%) | |
| Price Decreased | |||
| Jul 20, 2026 | Listed by Keller Williams Brazos West | $1,550,000 | |
| Listed by Keller Williams Brazos West | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017