109 Cole Road new Save Request In-Person Tour Request Virtual Tour
Red Oak,TX 75154
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 6,979 sqft
Price per Sqft $132
Subdivision Price Estates #3
MLS Listing ID 21100387
Style Barndominium,Ranch
Bedrooms 7
Full Baths 6
Half Baths 2
Year Built 1998
Annual Tax Amount $10,623
Lot Size 7.797 Acres
Property Sub-Type Single Family Residence
Property Description
MULTI-GENERATIONAL LIVING OR INCOME OPPORTUNITY ON 8 SCENIC ACRES!! Discover this rare and versatile property offering three distinct buildings set on 8 heavily treed acres with a picturesque 1-acre pond.
~Total under-roof area: ~7,000 sq ft across 3 buildings, 7 beds, 8 baths
~Property Acreage: 7.97 acres, .7 acre pond
~Building #1: 450 sq ft storage shed
~Building #2: ~2,000 sq ft event building with 1 bedroom (on-suite) + separate guest bath
~Building #3: Main house ~2,600 - 3300 sq ft, 4 bedrooms, 2½ baths; master + one bedroom + Living is remodeled
~Building #4: Bardominium duplex (~1,800 sq ft total = 2 units of ~900 sq ft each)
~Zoning Permitting: Cty annexed (only building & septic permits required) — gives usage flexibility (residential + event rentals)
~Use Case: Ideal for investor acquisition as an event venue wedding facility + rental income (duplex + guest unit + main house)
~Investment Highlights:
Multi-building layout allows multiple income streams (event venue revenue + residential duplex rental income). Event building in place — reduces repurposing cost compared to starting from scratch. Duplex units provide stable rental cash flow, helping cover property overhead while event business scales.
County jurisdiction simplifies permitting (no city zoning change required) — potentially faster time-to-market. Proximity to Dallas Fort Worth metro means access to larger wedding event demand pool plus residential rental demand.
Remodel in main house adds value, supports owner-residence or short-term rentals. The 7,000 sq ft (under roof) includes multiple buildings (bardo duplex, event building, storage shed) not just the main residence.
**PRICE REDUCTION - The price sq ft premium for high-end, large homes may be higher; but at the same time the unconventional layout may suppress value relative to pure single-family homes because many buyers won't value the event building or duplex units the same as residence.
Location
State TX
County Ellis
Rooms
Dining Room 4
Interior
Heating Central,Electric
Cooling Central Air,Electric
Flooring Carpet,Ceramic Tile,Concrete,Laminate,Luxury Vinyl Plank,Tile
Fireplaces Number 3
Fireplaces Type Bath,Bedroom,Living Room
Laundry Electric Dryer Hookup,Utility Room,Full Size W/D Area,Stacked W/D Area,Dryer Hookup,Washer Hookup
Exterior
Exterior Feature Basketball Court,Lighting,Storage
Garage Spaces 2.0
Fence Partial
Utilities Available Aerobic Septic,Asphalt,Individual Water Meter,Septic
Roof Type Composition,Metal
Building
Lot Description Acreage,Tank/ Pond
Story One
Foundation Slab
Structure Type Brick,Fiberglass Siding,Metal Siding
Schools
Elementary Schools Eastridge
Middle Schools Red Oak
High Schools Red Oak
School District Red Oak Isd
Others
Acceptable Financing 1031 Exchange,Cash,Contract,Conventional,FHA,VA Loan
Listing Terms 1031 Exchange,Cash,Contract,Conventional,FHA,VA Loan
Special Listing Condition Flood Plain
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21100387