509 Union Lane
About This Property
This outstanding equestrian property offers approximately 10 acres of sandy loam soil, fully fenced and cross-fenced, and benefits from an agricultural exemption, helping keep property taxes low. Thoughtfully designed to meet the needs of serious horse enthusiasts, the property features a well-appointed 2,400 sq ft barn that will impress any horseman.
The barn includes concrete floors, three spacious 15' x 15' foaling stalls with direct access to two turnouts, a 14' x 14' tack room, and a wash rack equipped with hot and cold water and a mare stock. Two large paddocks with loafing sheds provide ample space for turnout and shelter. Property is on a well and septic.
Integrated into the barn is a 701 sq ft living area built in 2018, with plenty of room to build a larger main residence. The existing barndominium makes an ideal guest house, caretaker's quarters, or multigenerational living space.
Located in a desirable area of Parker County within the Weatherford ISD, this property offers easy access to FM 51 and Highway 199, combining peaceful country living with excellent convenience. A rare opportunity to own a versatile, well-designed horse property in a prime location.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017