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Residential Land with Home for Sale in Gainesville, Texas

1546 County Road 123, Gainesville, TX 76240

$450,000
3.29 acres
Active
Est $2,816/mo

Peaceful country acreage lot with 2 income producing homes just minutes from Gainesville. This charming property offers the best of both worlds--quiet country living with convenient access to town, major highways, and shopping. This property would be ideal for a custom home site at the back while maintaining an income producing property at the road frontage. The homes are located on a spacious lot with a small pond, a 1200SF barn and small storage structures, mature trees at the back, partially fenced, and separate driveway access for the homes. Home at the front of the property is a 2 bedroom pier and beam, with a recent laundry room slab addition. Home at the rear is a manufactured home with 3 bedrooms and tenant provides all maintenance and repairs at current lease rate.

Located in Cooke County, this property has no city taxes, provides easy access to Gainesville schools, dining, and amenities, while still delivering the privacy and tranquility of country living. Each home has separate meters for water and electric service. With its blend of space and potential, this property is ideal for those seeking rental income with potential for future development or a future acreage homesite.

Sq feet
5
Beds
3
Full baths
1998
Built

Location

Street address
1546 County Road 123
Community
French M
Elevation
863 feet
Coordinates
33.6416, -97.0687

Directions

From Gainesville, East on US 82 toward Oak Ridge. South on CR 123 (also Tabernacle Road). Property will be on the left. Sign on lot.

Property details

Acreage
3.291 acres
MLS #
NTREIS 21059888
Posted

Parcels

  • 25657

Legal description

Resources

Details and features

Listing

Type
Residential Multi Family

Exterior

Parking
Driveway, Open
Fencing
Fenced
Features
Fence

Structure

Stories
1
Heating
Central, Fireplace(s)
Cooling
Ceiling Fan(s), Central Air, Electric, Multi Units, Window Unit(s)
Materials
Aluminum Siding
Roof
Composition

Interior

Rooms
Bathroom x 3, Bedroom x 5
Flooring
Linoleum
Appliances
Range
Features
High Speed Internet Available

Nearby schools

NameLevelDistrictDescription
ChalmersElementary

Listing history

DateEventPriceChangeSource
Sept 27, 2025New listing$450,000NTREIS
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This 3.291-acre property is located at 1546 County Road 123 in Gainesville, TX 76240. The property is available for sale for $450,000. It has a 5 bedroom, 3 bath house built in 1998.

Checked 7 hours ago — Updated

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