Improved Land for Sale in Stephenville, Texas
County Road 392, Stephenville, TX 76401
This turnkey income producing rental property is now available with a NEW configuration and NEW Pricing to fit more Buyers. As of April, 2026 the property is 100% occupied, with gross rental income of $148,000 per year. The property fronts paved county road 392, just south of Lingleville, west of Stephenville, and North of Dublin Close to Tarleton State University. Highlights of this multi-dimensional property include a 10 rental units with an established seven figure rental income and full occupancy. Rentals consist of five double-wides, four single-wides, and one RV spot. The mobile homes have been very well cared for, updated and maintained regularly, and recently re-sided with matching sheet metal. Horse facilities consist of 20+ horse stalls and loafing sheds, 19 turnouts, and lighted arena.
Location
- Street address
- County Road 392
- County
- Erath County
- Community
- Wilson
- Elevation
- 1,490 feet
Directions
From HWY 8 west of Stephenville, turn west on CR 392, and go 2.9 miles. The Property is on the left past CR 383.
From FM 219 south of Lingleville, turn east on CR 392 and go .75 mile. The property will be on the right (south side).
Property details
- Acreage
- 10.25 acres
- MLS #
- NTREIS 20964856
- Posted
Parcels
- R000014828
Resources
Details and features
Listing
- Type
- Residential Multi Family
- Franchise
- Keller Williams Realty
Exterior
- Parking Spaces
- 30
- Fencing
- Fenced
- Structures
- Barn(s), Stable(s)
- Features
- Fence, Stable/Barn
Structure
- Heating
- Central
- Cooling
- Central Air
- Materials
- Metal Siding
- Roof
- Metal
Nearby schools
| Name | Type |
|---|---|
| Linglevill | Elementary |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Apr 22, 2026 | Price drop | $1,400,000 | $600,000 -30% | NTREIS |
| June 11, 2025 | New listing | $2,000,000 | — | NTREIS |