1. Home
  2. Texas
  3. (private lake, pond, coastal)

Peaceful country acreage lot with 2 income producing homes just $450,000

1546 County Road 123, Gainesville, TX 76240

5 br, 3.0 ba, 1998 0 sf
Cooke County
Ad #: 6892307

Home For Sale

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.

Property Details

  • Beds: 5
  • Baths: 3.0
  • Year Built: 1998
  • Location: (private lake, pond, creek)
  • Acres: 3.291
  • County: Cooke County
  • Community: French M
  • Heat/AC: Central, Fireplace(s)
  • Garage: Driveway, Open
  • Siding: Aluminum Siding
  • Roof: Composition
  • Stories: 1
  • Fireplaces: Has Fireplace
  • MLS #: 21059888

Location

Click on map to activate
(Open in Google Maps)   (Bing Map)  (Mapquest Map)

Contact Information:

Contact Agent
Listing Agent: Terri Mccutcheon, Talley and Company, LTD, 254-718-6791, 940-310-6218 Listing Site, Listing Status: Active
Copyright © 2025 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Ad Statistics:

Lake Home For Sale in Gainesville, Texas
Ad Number : 6892307
Viewed: 42 times
Added: Nov 19, 2025
Updated on: Nov 19, 2025
All information provided is deemed reliable but is not guaranteed and should be independently verified.