See all 38 photos

$860,000

Est. payment - /mo

Save Virtual Tour

3 Beds

2 Baths

1,349 SqFt

New

435 Gene Lee Road Mineral Wells, TX 76067

Save Virtual Tour

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Shaina Laub

ranchridingrealtor@gmail.com +1(214) 449-7536

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,349 sqft

MLS Listing ID 21417432

Bedrooms 3

Full Baths 2

HOA Y/N None

Year Built 2008

Annual Tax Amount $2,969

Lot Size 17.281 Acres

Acres 17.281

Property Sub-Type Single Family Residence

Property Description

Income-Producing Property with Room to Grow! Explore the income potential of this versatile 17.281-acre property, featuring an ag exemption, two ponds, cross-fencing, a private well, and multiple income-producing assets, including three apartments, an 8,000-square-foot shop, and RV storage with covered and uncovered spaces. The property includes a 3-bedroom, 2-bathroom, 1,302-square-foot manufactured home with an in-ground pool, carport, a 30-by-40-foot insulated shop, and an additional 750-square-foot shop. The manufactured home, pool, and smaller shops are owner-occupied, but estimated rent potential is around $2,500 per month. A separate, approximately 8,000-square-foot insulated and conditioned shop includes two bathrooms and offers potential for commercial use, with estimated potential rent of $3,500 per month. The apartment area includes two 2-bedroom units and one 1-bedroom unit. One 2-bedroom apartment is leased for $1,350 per month, and the 1-bedroom apartment is leased for $1,250 per month. The second 2-bedroom apartment could potentially rent for $1,350 per month. RV storage provides another income stream, with 24 uncovered spaces offered for $50 per month and 18 covered spaces offered for $85 per month. With the manufactured home, large shop, all three apartments, and all RV spaces rented at the stated rates, this property has the potential to generate over $12,000 per month in gross rental income before expenses, vacancy, and other costs! There's also potential to expand income by converting covered RV spaces into apartments or adding tiny homes, subject to feasibility and applicable approvals. A unique opportunity to combine acreage, existing rental income, and multiple avenues for future growth. Rental figures and income projections are estimates and should be independently verified. There are several different gated entry points that provide individual access to the different sections of the property.

Location

State TX

County Palo Pinto

Direction See GPS.

Rooms

Dining Room 1

Interior

Interior Features Cable TV Available, Open Floorplan

Heating Central, Electric

Cooling Central Air, Electric

Flooring Carpet, Luxury Vinyl Plank

Appliance Dishwasher, Electric Cooktop, Electric Oven

Heat Source Central, Electric

Laundry Full Size W/D Area

Exterior

Exterior Feature Covered Patio/Porch, RV/Boat Parking

Garage Spaces 5.0

Carport Spaces 4

Fence Back Yard, Cross Fenced, Fenced, Gate

Pool In Ground, Outdoor Pool

Utilities Available Aerobic Septic, City Water, Electricity Connected, Gravel/Rock, Septic, Well

Roof Type Metal

Total Parking Spaces 9

Garage Yes

Private Pool 1

Building

Lot Description Acreage, Agricultural, Cleared, Few Trees, Many Trees, Tank/ Pond

Story One

Foundation Slab

Level or Stories One

Structure Type Rock/Stone

Schools

Elementary Schools Houston

Middle Schools Mineralwel

High Schools Mineralwel

School District Mineral Wells Isd

Others

Acceptable Financing 1031 Exchange, Cash

Listing Terms 1031 Exchange, Cash

Special Listing Condition Aerial Photo

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21417432

North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Keaton Vaughn • Monument Realty

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Name

Phone*

Email*

Message