435 Gene Lee Road, Mineral Wells, TX 76067

$860,000
  • 435 Gene Lee Road, Mineral Wells, TX 76067 Main Photo

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New to the Market Active
BEDS3 BATHS2 full SQUARE FEET1,349 MLS#21417432
STATUSActive PROPERTY TYPEResidential - Single Family SCHOOLMineral Wells ISD

Property Description

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.

435 Gene Lee Road | MLS# 21417432

This single family home located at 435 Gene Lee Road, Mineral Wells, TX 76067 is currently listed for sale with an asking price of $860,000. This property was built in 2008 and has 3 bedrooms and 2 full baths with 1349 sq. ft. Gene Lee Road is located within the Mineral Wells ISD school district. Search Mineral Wells real estate on jilljenkins.kellyrealtors.com today.

Property Features

Property Type: Residential - Single Family
Cooling: Central Air, Electric
Garage: 5
Heating: Central, Electric
Lot Size: 17.28 Acres
Roof Type: Metal
Year Built: 2008

Amenities

Cable TV Available
Open Floorplan
Covered Patio/Porch
RV/Boat Parking

Feature Descriptions

Appliances: Dishwasher, Electric Cooktop, Electric Oven
Days on Site: 2
Exterior: Rock/Stone
Fencing: Back Yard, Cross Fenced, Fenced, Gate
Flooring: Carpet, Luxury Vinyl Plank
Laundry: Full Size W/D Area
Lot: Acreage, Agricultural, Cleared, Few Trees, Many Trees, Tank/ Pond
Parcel#: 562374
Parking: Additional Parking, Attached Carport, Carport, Common, Driveway, Electric Gate, Gravel, Guest, Private, RV Access/Parking, RV Carport, RV Gated, Secured
Parking Notes: Additional Parking, Attached Carport, Carport, Common
Patio/Porch: Covered
Pool: In Ground, Outdoor Pool
Swimming Pool: Yes
Utilities: Aerobic Septic, City Water, Electricity Connected, Gravel/Rock, Septic, Well

Room Sizes

Living Room: 15.00 x 15.00 Level - 1
Bedroom-Primary: 15.00 x 15.00 Level - 1
Bedroom: 13.00 x 14.00 Level - 1
Bedroom: 10.00 x 15.00 Level - 1
Bath-Full: 5.00 x 7.00 Level - 1
Dining Room: 8.00 x 15.00 Level - 1
Kitchen: 11.00 x 15.00 Level - 1

Local Schools

Elementary School: Houston
School District: Mineral Wells ISD

Listed By / Shown By

Listed By

Agency Name: Monument Realty
Agency Contact: 817-524-5800
Agent Name: Keaton Vaughn

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Shown By

Agent Name: Jill Jenkins
Agent Phone: (254) 218-2877
Agency Title: Kelly, Realtors

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Estimate Your Payment

Estimated Payment

$ 2,164.82 per month $1,913.99 Principal & Interest $0.00 Property Tax (data not provided by mls) $250.83 Homeowner's Insurance

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