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$6,100,000

190 Private Road 3011, Lampasas, TX, 76550

$7,777,000 ARVInfo
On MarketInfo
Beds4 Beds
Baths2 Bath
Baths2,500 Sq Ft
price_per_sqft$2,440 / sqft
Year BuiltBuilt in 1996

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms 2Bathrooms 2
AppliancesDishwasher, Electric Water Heater, Oven, Range
FlooringCarpet, Tile, Wood

Exterior

Exterior FeaturesExterior Steps
Lot Size1.58 acres

Building Information

Year Built1987
Garage Spaces2

Land Information

APN12480
Land UseResidential
Legal DescriptionACR: 1.58 ABST: 0583 SURV: JAMES W ROBINSON LOCCD:108
Census Tract950500
Assessed Land Value$81,050
Assessed Improvement Value$391,750
Assessment Year2025

About this property

Horseshoe Falls, A Historical Lampasas Gem! Also known as Gunderland Park, a sprawling 378-ac high-fenced ranch. This is a very rare opportunity to own both sides of Sulphur Creek, as it flows year-round through the ranch. Be transformed to another world with the abundance of native tree cover, wildlife, and the sounds of living water. Adored by many, locals can recall fond childhood memories of fishing and camping here. An original merry-go-round and hand-built rock BBQ pits, benches, and tables still remain intact. An upper pasture blooms with sunflowers, attracting quail hunting enthusiasts. Most recently, this one-of-a-kind property is being used as an exotic ranch, serving guests with exclusive hunts and catered private events. The ranch's centerpiece is a spacious 2,500+ sq ft 1.5-story primary home with 4 bedrooms, 2 bathrooms, and two living areas, offering breathtaking views and sounds of the ever-flowing Sulphur Creek dam. This site holds important significance as Captain J.F. Brannon of the Ninth Infantry commissioned 193 men to build the Lampasas State Park & Dam in June 1933. Beyond the main residence, discover a 2400 sq ft., climate-controlled main hall overlooking the live water of Sulphur Creek, equipped with restrooms and a rustic rock fireplace upon entry. Perfect for weddings, private or corporate events, or private family get-togethers. Capable of seating up to 150 people comfortably around dining tables, with additional seating outside on the rock patio. Additionally, there are six fully restored and uniquely decorated cabins. All with unique themed decor with names such as: The Ranger Station, Bass Bungalow, Bird's Nest, Tee Pee, La Cabana & of course, the JAIL. Most cabins sleep 2-6 guests with full bathrooms. A Lodge, aka The Horn Room is equipped with a full kitchen for serving a larger party of guests at once. Enjoy a game of pool or darts in the game room. Pictures and words cannot adequately describe this unique paradise!

Investor Tools

$0Estimated Mortgage Balance
$605,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$7,777,000
Rent-to-Value Ratio: 0.72%
Rent Estimate
$36,600 /month
Positive
Cash Flow Estimate:
$12,200 /month

Interested in this property?

Leah Caruthers

Texas Real Estate Sales

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$708/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,466
$472,800
2025
$81,050
$391,750
$472,800
No

Tax History

Year
Tax Paid
Assessed Value
2025
$5,466
$472,800

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$605,000
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.

Explore Texas Explore This Area
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: Lampasas

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190 Private Road 3011 | Property Details | No Agent List