435 Gene Lee Road
Mineral Wells, TX, 76067
$
860,000
Bedrooms3
Baths2.0
Sq
1,349
Monthly Estimate*
$
5,940
for $860,000 with 3 bedrooms and 2 full baths. This 1,349 square foot home was built in 2008 on a lot size of 17.281.
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.
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Features
Interior
Interior Features
Cable TV Available
Open Floorplan
Flooring
Carpet
Luxury Vinyl Plank
Basement Y/N
0
Dining Areas
1
Living Areas
1
Half Baths
0
Total Bedrooms
3
Total Baths
2
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General
Heating
Central
Electric
Cooling
Central Air
Electric
Utilities
Aerobic Septic
City Water
Electricity Connected
Gravel/Rock
Septic
Well
Possession
Closing/Funding
Roof
Metal
Appliances
Dishwasher
Electric Cooktop
Electric Oven
current use
Agricultural
Pasture
Number of Garage Spaces
5
School District
Mineral Wells ISD
Pool Y/N
1
Crops
Native
Year Built
2008
Levels
One
Property Subtype
Single Family Residence
Subdivision Name
none
Transaction Type
For Sale
County
Palo Pinto
Property Type
Residential
Construction Materials
Rock/Stone
Accessory Unit Type
Accessory Dwelling Unit (ADU)
Accessory Unit Y/N
Y
HOA Type
None
Special Notes
Aerial Photo
Full Baths
2
Status
Active
Directions
See GPS.
City
Mineral Wells
Elementary School Name
Houston
High School
Mineralwel
Elementary School
Houston
Standard Status
Active
Listing Terms
1031 Exchange
Cash
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Exterior
Waterfront
0
Exterior Features
Covered Patio/Porch
RV/Boat Parking
Lot Features
Acreage
Agricultural
Cleared
Few Trees
Many Trees
Tank/ Pond
Vegetation
Cleared
Partially Wooded
Fencing
Back Yard
Cross Fenced
Fenced
Gate
Garage Length
40
Garage Width
30
Other Structures
Garage(s)
Guest House
Mobile Home
Outbuilding
RV/Boat Storage
Second Garage
Second Residence
See Remarks
Separate Entry Quarters
Tenant House
Workshop
Workshop w/Electric
Other
Lot Size Source
Assessor
Parking Features
Additional Parking
Attached Carport
Carport
Common
Driveway
Electric Gate
Gravel
Guest
Private
RV Access/Parking
RV Carport
RV Gated
Secured
Lot Size
10 to < 50 Acres
Foundation
Slab
Pool Features
In Ground
Outdoor Pool
Structural Style
Apartment
Farm/Ranch House
Manufactured (certificate exch)
Mobile Doublewide w/Land
Single Detached
Garage Y/N
1
Attached Garage Y/N
0
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* Excluded Features
List By
Keaton Vaughn
Listing Agent
Affordability Calculator
- Monthly Principal & Interest
- $5,940
- Monthly Property Taxes
- $247
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save
Nearby
Single family listings in Mineral Wells, TX
Average List Price
$330,247
Percent of Sale Price
62%
About Mineral Wells, TX
17,209
Population
2%
Since 2002
$
37,757
Median Income
34.99
Median Age
29%
Households with Children
Trends Information provided by ATTOM Data Solutions.
286260
Elementary School
3671382
Middle School
Pricing History
| Date |
Price |
Price Change |
Description |
|
10/21/2026
|
$860,000
|
|
Listed Price
|