938 County Road 1655
About This Property
The centerpiece of the ranch is a state-of-the-art climate-controlled indoor arena, fully equipped with bucking chutes, Priefert roping chutes, spectator bleachers, public restrooms, offices, and a commercial-grade kitchen with concession stand-ready to host rodeos, jackpots, clinics, private events, and large gatherings.
Equine improvements include 50 horse-ready stalls, plus an additional barn with 13 pipe runs built to accommodate bucking bulls or specialized livestock operations.
The topography of the property showcases stunning views- the main residence, several large shops, and the second barn sit across a creek and atop a hill overlooking the property. Pastures are fenced and cross-fenced, nicely cleared, and well maintained.
Residential improvements are equally impressive, featuring a stunning 5,194-square-foot Austin stone main residence with a pool overlooking the ranch, two separate 3-bedroom, 2-bath brick homes currently producing incomel, and a barn apartment for guests, staff, or additional rental use.
Whether you're seeking an established event venue, income-producing investment, or legacy ranch property, this offering presents endless possibilities in an ideal East Texas location. Mount Pleasant is home to a full-service hospital and ER with helipad, numerous hotels, and is less than 2 hours from the DFW metroplex, 40 minutes from Sulphur Springs, and 1.5 hours to Tyler.
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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 |
|---|---|---|---|
| Jul 30, 2026 | Sold | ||
| Sold | |||
| May 28, 2026 | In contract | - | |
| In contract | |||
| Apr 20, 2026 | Listed by eXp Realty LLC | $2,400,000 | |
| Listed by eXp Realty LLC | |||
| Oct 8, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
| Sep 4, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017