
— bed, — bath on 86.00 acres in None. Lometa, TX 76853. $890,000. Lometa ISD.
Offered at $980,000, this is an opportunity to own an 86 acre property with incredible views, highway frontage and investment potential in one of the Hill Country’s most sought-after regions.
Location: Located just minutes from Lometa, this 86-acre Hill Country ranch offers sweeping long-range views, approximately 1700 feet of Highway 581 frontage, and exceptional versatility for cattle, recreation, or investment. A seasonal creek winds through the property, enhancing its natural character and appeal. The ranch is easily accessible from both Highway 581 and County Road 2745—just 9 minutes from Lometa and roughly 1 hour and 30 minutes from Austin. With electricity on-site and a water line along Highway 581, this property is well-positioned for future development, a premier homestead, or continued agricultural use.
History: This parcel was once part of the historic Wagon Wheel Ranch — a notable operation recognized for its high-quality horse breeding and cattle program throughout much of the 20th century. The land reflects the authentic ranching heritage that defines this region, offering a rare opportunity to own a piece of Hill Country history with investment potential.
Land: Situated in the heart of Lampasas County, this 86-acre ranch offers a blend of usability, scenic beauty, and investment potential. The land is primarily flat with gentle rolling terrain, providing exceptional grazing opportunities for cattle or other livestock. A wet-weather creek meanders through the property, adding natural character and seasonal water features that enhance both ranching and recreational appeal. Electricity is on-site, and a community water line runs along FM 581—making this ranch well-suited for development, continued agricultural use, or long-term investment. Property is currently under Agriculture exemption.
Verified property facts
247 E Fm 581 Highway is zoned for Lometa ISD with assigned schools: Lometa (elementary), Lometa (middle), Lometa (high). School assignments should be verified directly with the district.
247 E Fm 581 Highway is listed by Allen Cowden, Broker. Keenan Group at Compass presents this IDX listing and provides the accompanying market analysis using MLS Grid / Unlock MLS data reviewed as of Sep 25, 2026.
The most recent annual property tax for 247 E Fm 581 Highway is $267. Texas has no state income tax, so property taxes are a primary revenue source. Rates vary by jurisdiction and exemptions. Verify current amounts with the county appraisal district.
This page does not assume a mortgage rate or publish a monthly payment for 247 E Fm 581 Highway. A property-specific estimate requires a current lender rate, chosen down payment, taxes, insurance, and any verified association dues.
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Listing timeline with current price, original ask, and market time.
Lometa ISD
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility.
20% ($178K)
Adjustable assumption - not a lending recommendation.
$890,000
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List price
$890,000
Price per sqft
Not available
Vs. Neighborhood guide reference price
Not available
Days on market
320 days
Original to current
$90K reduction
$980K original
Active inventory context
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Source: MLS Grid / Unlock MLS and Keenan Group review as of Sep 25, 2026.
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The MLS listing marks 247 E Fm 581 Highway as waterfront. The reported waterfront feature is Creek, Dry, Seasonal. Confirm shoreline access, dock rights, and floodplain status from current property documents during due diligence.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
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