599 Anderson County Road 387
About This Property
Conveniently located north of US Hwy 84, the ranch enjoys easy access via ACR 387, which runs through its eastern portion. While close to downtown Palestine's amenities, the property retains a peaceful and secluded atmosphere, offering the best of both worlds.
With approximately 100' of elevation change, the 387 Ranch boasts a diverse landscape suited for livestock, recreation, and timber income. Improved pastures provide excellent grazing, while mature mixed timber enhances the property's natural beauty and privacy. Additionally, several smaller fenced pastures are strategically placed throughout, increasing the ranch's functionality.
Water is a key feature of the ranch, ensuring year-round appeal for both livestock and wildlife. A scenic pond on the eastern side offers a serene water source, while a meandering creek flows through the western portion, enhancing the property's natural habitat and aesthetic charm.
At the heart of the ranch sits a fully renovated 1,824 sf residence, originally built in 1977 (per ACAD records). This 3-bedroom, 2-bathroom home has been thoughtfully updated with granite countertops, modern fixtures, new flooring, and fresh paint. The attic is spray foam insulated, and recent upgrades include a new roof and a whole-house generator for added comfort and efficiency. A two-car garage and detached carport provide ample storage for vehicles, UTVs, and ranch equipment.
The 387 Ranch is a rare find in Anderson County, Texas-offering a blend of natural beauty, modern comforts, and long-term potential.
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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 |
|---|---|---|---|
| Mar 20, 2025 | Sold | ||
| Sold | |||
| Feb 26, 2025 | In contract | - | |
| In contract | |||
| Feb 12, 2025 | Listed by Whitetail Properties Real Estate | $1,350,000 | |
| Listed by Whitetail Properties Real Estate | |||
| Oct 17, 2024 | No longer available | - | |
| No longer available | |||
| Dec 14, 2023 | Listed by Whitetail Properties Real Estate | $1,350,000 | |
| Listed by Whitetail Properties Real Estate | |||
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Discover the ultimate ranch retreat at the 387 Ranch, a sprawling 171.275-acre property located just 12 minutes east of downtown Palestine, Texas. Boasting approximately 100 feet of elevation change, the 387 Ranch showcases a diverse landscape. Open, improved pastures provide ample grazing for livestock, while mature mixed timber stands offer shade, beauty, and potential income.
At the heart of the property, you'll find a meticulously renovated 1,824 square foot residence, originally constructed in 1977 (per ACAD records). A two-car garage and detached carport provide shelter for vehicles and UTVs.
The presence of Anderson County Road 387 running through the ranch offers intriguing possibilities. The option to sell off the eastern portion of the property in one or multiple tracts could provide a significant return on investment, making this property not just a private retreat but also a savvy financial opportunity.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017