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339 Colwell Road
About This Property
The open-concept floor plan centers around a spacious living area and a beautifully designed kitchen featuring an oversized island, abundant cabinetry, extensive built-ins, generous counter space, and a newly replaced dishwasher. The spacious primary suite offers a private retreat, while the dedicated office provides the flexibility to work from home or create a hobby space. Both full bathrooms are completely renovated.
Recent improvements include new windows, newer AC unit, hot water heater, and a second septic tank, creating a move-in-ready home with modern finishes throughout.
Outside is where this property truly shines. The automatic gated entrance, fenced homesite, shop, barn, storm shelter, and open acreage create endless possibilities. Bring your horses, chickens, livestock, or simply enjoy the open space. There is also a walk-in chicken coop. With no deed restrictions, you'll have the freedom to make this property your own while enjoying the privacy and peaceful setting that country living offers. There are two peach trees, two apple trees, a pear tree, a wild pear tree, seven wild plum trees, a black walnut tree, and two pecan trees!
Conveniently located in Montague County with easy access to Decatur, Bowie, and surrounding North Texas communities, this property offers the best of rural living while remaining close to shopping, dining, and everyday conveniences.
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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 21, 2026 | Price Decreased |
$495,000
↓ $5K
(1%) | |
| Price Decreased | |||
| Jul 27, 2026 | Listed by Real Broker, LLC | $500,000 | |
| Listed by Real Broker, LLC | |||
| Jul 26, 2026 | No longer available | - | |
| No longer available | |||
| Jul 17, 2026 | In contract | - | |
| In contract | |||
| Jun 30, 2026 | Listed by Real Broker, LLC | $500,000 | |
| Listed by Real Broker, LLC | |||
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339 Colwell Road in Forestburg, Texas offers a newly updated single-story ranch home on 4.1 acres in Montague County featuring 5 bedrooms, 2.5 bathrooms, a dedicated office, shop, barn, storm shelter, automatic privacy gate, fenced homesite, private road access, and no deed restrictions. Located in Forestburg ISD, this property delivers the space, privacy, and flexibility buyers are looking for in North Texas.
The open-concept floor plan centers around a spacious living area and a beautifully designed kitchen featuring an oversized island, abundant cabinetry, extensive built-ins, generous counter space, and a newly replaced dishwasher. The spacious primary suite offers a private retreat, while the dedicated office provides the flexibility to work from home or create a hobby space. Both full bathrooms are completely renovated.
Recent improvements include new windows, newer AC unit, hot water heater, and a second septic tank, creating a move-in-ready home with modern finishes throughout.
Outside is where this property truly shines. The automatic gated entrance, fenced homesite, shop, barn, storm shelter, and open acreage create endless possibilities. Bring your horses, chickens, livestock, or simply enjoy the open space. There is also a walk-in chicken coop. With no deed restrictions, you'll have the freedom to make this property your own while enjoying the privacy and peaceful setting that country living offers. There are two peach trees, two apple trees, a pear tree, a wild pear tree, seven wild plum trees, a black walnut tree, and two pecan trees!
Conveniently located in Montague County with easy access to Decatur, Bowie, and surrounding North Texas communities, this property offers the best of rural living while remaining close to shopping, dining, and everyday conveniences.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017