449 Locust Road
About This Property
Water has been run to the meter and is ready for connection to a future structure. An electric transformer is already in place and ready to connect to a temporary pole or meter bracket. A septic site evaluation for an aerobic system has also been approved, saving the next owner time, planning, and upfront effort. The property also features a beautiful pond with a concrete spillway, created through extensive excavation, adding both character and a peaceful focal point to the land.
Located in the desirable Pottsboro area, this property offers the best of North Texas living with a quiet country feel and easy access to Lake Texoma. Pottsboro is known as a gateway to Lake Texoma, offering nearby boating, fishing, camping, marinas, sandy beaches, and outdoor recreation. The area provides small-town charm while remaining accessible to Sherman, Denison, Gainesville, and the expanding North Texas corridor.
Whether you are looking to build a full-time residence, weekend retreat, barndominium, custom home, or private getaway near the lake, this lot is ready for your vision. With much of the groundwork already completed, buyers can focus on designing the lifestyle they want instead of starting from scratch. Opportunities like this are hard to find in a growing lake-area market with space, privacy, improvements, and location all working together.
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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 |
|---|---|---|---|
| Aug 7, 2026 | Listed by Serhant Texas, LLC | $175,000 | |
| Listed by Serhant Texas, LLC | |||
| Jun 26, 2026 | No longer available | - | |
| No longer available | |||
| Mar 12, 2026 | Listed by OnDemand Realty | $175,000 | |
| Listed by OnDemand Realty | |||
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Hard-to-find unimproved Lot 2 with many improvements already completed and ready for your dream home. Seller has cleared and graded a build site, installed a 500-foot gravel driveway for easy access, and created a private, secluded homesite. Water line has been run to the meter and is ready for connection to a future structure. Electric transformer is in place and ready to connect to a temporary pole or meter bracket. Septic site evaluation for an aerobic system has already been approved. Property also features a beautiful pond with concrete spillway created through extensive excavation. Great opportunity to build with much of the groundwork already done.
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| Dec 18, 2024 | Withdrawn | - | |
| Withdrawn | |||
| Dec 6, 2024 | Price Decreased |
$174,995
↓ $5K
(2.8%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017