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Mineral Wells, TX 76067
  • 3 Beds
  • 2 Baths
  • 1,349 sqft
  • 5 Garage
$860,000

About this home

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. Both 2 bed units are rented at $1,350 per month, and the 1-bedroom apartment is leased for $1,250 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.

Overview

Full Baths
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Half Baths
0
Bathrooms
2
Bedrooms
3
Building Area
0
Levels
One
Living Area
1349
Lot Size (Acres)
17.281
Property Subtype
Apartment
Property Type
Residential
Status
Active
Year Built
2008

Interior

Appliances
Dishwasher, Electric Cooktop, Electric Oven
Cooling
Central Air, Electric
Fireplaces
0
Flooring
Carpet, Luxury Vinyl Plank
Heating
Central, Electric
Interior Features
Open Floorplan, Cable TV

Exterior & Construction

Architectural Style
Detached, Farmhouse
Construction
Rock, Stone
Foundation
Slab
Lot Features
Acreage, Agricultural, Cleared, Pond on Lot, Many Trees, Few Trees
Roof
Metal

Parking

Covered Parking
0
Garage Spaces
5

Location & Area

City
Mineral Wells
County
Palo Pinto
School District
Mineral Wells ISD
ZIP Code
76067
State
TX
Subdivision
none

Financial

Price
860000

Utilities

Sewer
Aerobic Septic, Septic Tank
Utilities
Electricity Connected, Septic Available, Water Available, Cable Available

Listing Details

Listing Agent
Keaton Vaughn
Listing Office
Monument Realty
MLS #
21417432
Virtual Tour
https://www.propertypanorama.com/instaview/ntreis/21417432

Listing agents

Listing AgentKeaton VaughnMonument Realty

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