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Days39Days on Market
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$3,495,000

$3,895,000

24183 S US 281, Hico, TX, 76457

On MarketInfo
Price DropInfo
Beds4 Beds
Baths3 Bath
Baths2,160 Sq Ft
FarmFarm
price_per_sqft$1,618.06 / sqft
Year BuiltBuilt in 1999

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms 3Bathrooms 3
AppliancesWater Purifier, Dishwasher, Disposal, Gas Range, Double Oven, Water Softener
FlooringVinyl

Exterior

Private PoolPrivate Pool
Exterior FeaturesRain Gutters, Playground, RV Hookup
Lot Size62.34 acres

Building Information

Year Built1983

Land Information

APNR000021509
Land UseResidential
Legal DescriptionA0468 KARNER JOHN; 3 HOUSES, SHEDS & MOBILE HOME MPHMAKE:SOUTHERN ENERGY HOMES MPHMODEL:45TFC18763MH15 MPHSIZE:17X76 MPHYEAR:
Census Tract950700
Assessment Year2025

About this property

Now offered for Sale in Erath County, the Fraze Ranch once know as Home of Freckles Playboy brings functionality with all the amenity's of a working ranch. Designed on 72 acres with some of the best views and trees you'll find is a rare! Currently a show lamb facility but with little effort it will easily convert over to Equine. Equipped with multiple barns, large turnout pens, easy rotation, and set up for a one man show. The home offers todays modern charm and yesterdays uniqueness thru used material from old structures of the past. A full wrap around porch and stunning rock accents for flowerbeds, columns, and landscaping bring in the finishing touch. Thoughtfully designed pool and play area to host family gatherings and to entertain and flow with the type of property it sits on. Darling full bunkhouse, additional MH, and large packaging office. Features of the barns include a 6 stall buck barn, massive 16 stall show barn with split gates, holding barn, and a separate vet lab area. Both barn are set up with heating units and fans throughout, automatic waters, and spray foam insulation. You will appreciate the details of this ranch which shows how well it is maintained and well kept, the improved pasture, and layout. Several directions to go with this property rather it be equine, sheep, or show cattle. The opportunity is endless!

Investor Tools

$0Estimated Mortgage Balance
$3,245,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$20,970 /month
Positive
Cash Flow Estimate:
$6,990 /month

Interested in this property?

Sissy Herring

TEXAS PROUD REAL ESTATE LLC

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,352/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
N/A
$9,610
2025
N/A
N/A
$605,230
No

Tax History

Year
Tax Paid
Assessed Value
2024
N/A
$9,610

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$3,245,000
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: Hico

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24183 S US 281 | Property Details | No Agent List