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$399,900

$400,000

188 Hcr 3215, Penelope, TX, 76676

On MarketInfo
Price DropInfo
Beds3 Beds
Baths2 Bath
Baths1,620 Sq Ft
Manufactured HomeManufactured Home
price_per_sqft$246.85 / sqft
Year BuiltBuilt in 2023

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Half 2Bathrooms Half 2
AppliancesDishwasher

Building Information

Year Built2023

Land Information

APN453585
Land UseFarm & Ranch Mobile Home
Legal DescriptionJ WALLACE A-938 TR 5D & 5E IMP ONLY
Census Tract961400
Assessed Improvement Value$106,840
Assessment Year2025

About this property

If you've been waiting for some land, this might be it! 20 acres, fully fenced, ready for horses, with a pond and room to breathe. This property is perfectly set up with an iron pipe entry fence, crossed fenced, corrals, two outbuildings. Also cross-fenced with two separate entrances, including a secondary access point from an adjacent tract. Power and water are available at the road, offering excellent flexibility if divided into two separate properties. Currently under ag exemption. The house is in immaculate shape with 3 beds, 2 baths, and two living areas. The best part? Stunning views of the conservation lake from the oversized front porch wood deck, living room, and primary suite. Priced below its recent $465K appraisal—step into an incredible opportunity to gain instant equity. Low taxes, little traffic, and total privacy—just the way country living should be.

Investor Tools

$0Estimated Mortgage Balance
$396,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,399 /month
Positive
Cash Flow Estimate:
$800 /month

Interested in this property?

Kodi Elwood

Greater Waco Realty, LLC

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$211/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$546
$106,840
2025
N/A
$106,840
$106,840
No

Tax History

Year
Tax Paid
Assessed Value
2025
$546
$106,840

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$396,000
100%
0%
$0/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Penelope

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188 Hcr 3215 | Property Details | No Agent List