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Palo Pinto 76449
365 Melbourne Trail
$325,000
● Land - Off Market

365 Melbourne Trail

Possum Kingdom Lake, TX 76449
bedrooms
Studio
bathrooms
0 Bath
$2,689
Est. Monthly
$54
HOA / Fees

About This Property

WATERFRONT LOT, boat dock approved. Deep water in no wake Neeley's Slough on Possum Kingdom Lake. This diamond in the rough is located in The Cliffs Resort. Signature homes are already in the area. A private concrete drive permits easy access to a mid lot build site with access to your own boat dock. Very few lakefront lots with dock approval remain in The Cliffs, if you are looking for a blank canvas on which to create your very own lake dream, them treat yourself & take a look at this beauty.

The property comes with Cliff Membership & the rights & privilege's associated with ownership.

All information in listing deemed accurate, Buyer and Buyer's agent to verify.
Unit Size
-
Days on Market
-
Land Size
0.32 acres
Price per sqft
-
Property Type
Land
Property Taxes
$425
HOA Dues
$54
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 3 years ago (NTREIS #20353176)

Price History

Date / Event Date Event Price
May 16, 2024 Sold
Premium
Sold
May 7, 2024 In contract -
In contract
Jun 12, 2023 Listed by Coldwell Banker Realty $450,000
Listed by Coldwell Banker Realty

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,852
  • Lot Size Frontage Feet: 0
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: CLIFFS PHASE VIII
  • Land Acres: 0000000318
  • Standard Land Use Code: 8001
  • County Land Use Code: C1
  • Legal Description 1: CLIFFS PHASE VIII LOT 151 G#C0250-08-00000-151-00-0

Neighborhood

  • School District Name: Palo Pinto Independent School District
  • School Tax School District: PPI HPD ESD1
  • Census Tract: 000200

Geography

  • Account Number: R000013461
  • Subdivision Phase Number: 8
  • Parcel: 110252500
  • Lot: 151
  • Municipality: GRAFORD
  • Latitude: 32.8496
  • Longitude: -98.4488

    Address

  • Full Address: 365 Melbourne Trl
  • Address - House Number: 365
  • Address - Street Name: Melbourne
  • Address - Suffix Type: Trl
  • State: TX
  • City Name: Graford
  • Carrier Code: H051
  • 4-Digit Zip Code: 5139
  • Zip Code: 76449

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $450,938
  • Tax Rate Code Area: CAD 182 PP

    Market Valuation

  • Market Total Value: $332,590
  • Market Land Value: $332,590

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $332,590
  • Assessed Land Value: $332,590

    Sales

  • Current Sale Contract Date: Oct 06, 2017
  • Current Sale Recording Date: Oct 16, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 70
  • Current Sale Input Document Number: 2017-00005345
  • Previous Sale Recording Date: Apr 19, 2007
  • Previous Sale Contract Date: Apr 16, 2007
  • Previous Sale Amount: $130,600
  • Previous Sale Document Type: 70
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Palo Pinto

Stats & Trends

Median Asking:

$399,900

Sale Price/ft²

$223

Below Asking

0.03%

Average Days on Market

84

Average Home Size

2203 ft²

Average Home Age

-

Currently For Sale

294 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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NTREIS

Listed by: Ric Hayward, Coldwell Banker Realty
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 20353176
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 365 Melbourne Trail built and last sold?
The property at 365 Melbourne Trail was built in and last sold on Oct 6, 2017 for $239,100.
How much is this home worth?
The estimated value of the home located at 365 Melbourne Trail is $454,500.
What are some comparable homes to 365 Melbourne Trail?
There are currently no comparable homes to 365 Melbourne Trail.
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