8523 State Highway 276
About This Property
With extensive frontage on Hwy 276 and frontage on Streetman Road, and limited frontage on Melody Lane, the property is well positioned for residential, ranchette, or commercial development. The property sits in the Rockwall ETJ, outside city limits, with an 18 inch industrial Cash SUD water line along Hwy 276 and an 8 inch line along Streetman Road. Survey available.
The land features ponds, a creek with minimal FEMA floodplain, scattered trees, and productive pastures suitable for livestock and hay production. Improvements include a main home with guest quarters, three barns, an arena, and multiple outbuildings providing immediate use or interim income potential.
With its impressive size, prime location, strong utility access, and promising growth outlook, this property stands out as a rare opportunity in one of North Texas's most vibrant corridors. Seller will consider dividing and may offer owner financing for qualified buyers. Survey Available.
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Cap Rate Calculator
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 25, 2026 | Sold | ||
| Sold | |||
| May 12, 2026 | In contract | - | |
| In contract | |||
| Feb 19, 2026 | Price Decreased |
$11,245,000
↓ $3M
(21.1%) | |
| Price Decreased | |||
| Sep 11, 2025 | Listed by Keller Williams Rockwall | $14,250,000 | |
| Listed by Keller Williams Rockwall | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017