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$860,000

435 Gene Lee Road, Mineral Wells, TX, 76067

On MarketInfo
Just AddedInfo
Beds3 Beds
Baths2 Bath
Baths1,349 Sq Ft
price_per_sqft$637.51 / sqft
Year BuiltBuilt in 2008

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Half 2Bathrooms Half 2
AppliancesDishwasher, Electric Cooktop, Electric Oven
FlooringCarpet, Luxury Vinyl Plank

Exterior

Private PoolPrivate Pool
Lot Size3,211 sqft

Building Information

Year Built2008
Garage Spaces5

Land Information

APN063240005
Land UseResidential
Legal DescriptionAB 1217 TR 14-A A BUTLER (IMPS ONLY) --- G#11217-00-00140-0A0-00-0 --- MOUNTAINVIEW RV & BOAT STORAGE MPHMAKE: MPHMODEL: LH32
Census Tract000401
Assessed Improvement Value$487,150
Assessment Year2025

About this property

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.

Investor Tools

$0Estimated Mortgage Balance
$487,150Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,160 /month
Positive
Cash Flow Estimate:
$1,720 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$258/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$665
$487,150
2025
N/A
$487,150
$487,150
No

Tax History

Year
Tax Paid
Assessed Value
2025
$665
$487,150

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$487,150
100%
0%
$0/mo

City: Mineral Wells

435 Gene Lee Road | Property Details | No Agent List