Active
601 Alexander Road
Stephenville TX, 76401
$1,600,000
$8.74 per sqft
Active
4.2 Acres
Land
Built in 1924
Stephenville, known as the 'Cowboy Capital of the World', has become a very popular 'hot spot' where everyone wants to live. Investors should seize this 'once-in-a-lifetime' opportunity to purchase the only substantial parcel of land available, zoned R3 multi-family, conveniently located on the same block as the City Park and within a mile of one of Texas' fastest-growing universities, Tarleton State University--a member of the Texas A&M University System--that has recently broadened its campus in Fort Worth. This expansion has created a surge in population growth in the college town, along with a major housing shortage and surge in rental prices as new students, faculty, and staff annually seek housing. Tarleton State has recorded unprecedented enrollment growth for five consecutive years, reaching around 18,000 students in fall 2024, marking a 45% increase since 2019. A U.S. Census indicates that approximately 54% of Stephenville's population are renters, facing a high vacancy rate. For investors, this translates to potential cash flow! Also, within walking distance lies the quaint town square, that features the Courthouse built in 1892, historical buildings, diverse businesses, restaurants, cafes, boutiques, shops, museums, and historical sites. The Bosque River Trail, a trail for walking, hiking, and biking, follows the north bank of the Bosque River. Spanning approximately 1.5 miles, it links the downtown to the City Park. The property spans 4.201 acres, comprising two parcels with 484 feet of frontage on Alexander Road. Its topography is level to gently rolling, dotted with mature oak trees, making it ideal for various residential developments in a parklike environment with Bosque River views, and convenient access to the City Park and trails. Developers have a unique chance to capitalize on an incredible location with a broad tenant base, and a city experiencing a surge in housing demand, all at an exceptionally competitive price.
20784542
MLSⓇ ID
December 11, 2024
Updated
Map
601 Alexander Road
Stephenville TX, 76401
Exterior/Building Features
Lot Size
4.2 Acres
Lot Features
Acreage, Cleared, Level, Pasture, Rolling Slope, Many Trees, Few Trees, City Lot
Sewer
Public Sewer
School Information
School District
Stephenville ISD
High School
Stephenvil
Other Property Details
Days on Market
19
Garage
No
View
Yes
View Description
Park/Greenbelt
County
Erath
Water Source
Public, Well
Pool
No
Listing History
Date | Event | Price |
---|---|---|
12/11/2024 | Price change | $1,600,000 -24% |
11/30/2024 | Price change | $2,100,000 31% |
Listed by Darlene Crumley with Keller Williams Heritage West
Listing Contact: 817-771-7748
The IDX display contains information sourced from the North Texas Real Estate Information Systems, Inc. as of 12/11/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 12/11/2024 at 11:43 PM UTC