Listing provided courtesy of Landmasters Real EstateMLS# HLM177842MLS Provider
  • 53 days on site
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Nestled just outside the quiet community of Cherokee, this unique 7+ acre property offers a blend of mature oak trees, open land, and endless potential. The property features a wet weather creek, pond, and a mix of wooded and cleared acreage, creating a peaceful rural setting with room to roam. The home is a work in progress and will require additional renovation, making it a great opportunity for investors, flippers, or buyers looking to create their own country retreat. Recent improvements include updated plumbing, portions of updated electrical, newer HVAC, some updated windows, and newer flooring already installed. The home is serviced by a well, and the septic system was pumped and inspected in early 2024. The property's unusual shape provides flexibility and potential for future division or multiple uses. The two highway access points would make subdividing a breeze. The acreage is fenced and suitable for livestock, horses, or simply enjoying wide open space and privacy. Conveniently located approximately 20 minutes from Llano, San Saba, and Colorado Bend State Park, this property offers rural charm with easy access to nearby amenities, including a K-12 school, and recreation.

Source: Highland Lakes MLS, MLS#: HLM177842

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  • Property Type
    Residential
  • Lot
    7.73 acres

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Pamela Buske

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 505 E FM 501


Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/27/2026Source: Highland Lakes MLS Price Reduction
$188,000 -0.5%
5/29/2026Source: Highland Lakes MLS Price Reduction
$189,000 -5.0%
5/7/2026Source: Highland Lakes MLS Added to Database
May 07, 2026