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.
For sale
Price cut: $12K (8/27)
$175,000
505 E FM 501, Cherokee, TX 76832
3beds
1,398sqft
Single Family Residence, Residential
Built in 1961
7.73 Acres Lot
$-- Zestimate®
$125/sqft
$-- HOA
What's special
Mature oak treesUpdated plumbingPortions of updated electricalSome updated windowsAcreage is fencedNewer flooring already installedOpen land
- 152 days
- 403
- 28
Zillow last checked:
Listing updated:
Listed by:
Claire Liddiard 325-423-2570,
Landmasters Real Estate
Source: HLMLS as distributed by MLS GRID,MLS#: 177842
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
Rooms
- Room types: Laundry, Utility Room Inside
Heating
- Electric
Cooling
- Central Air
Features
- Flooring: Laminate
- Has fireplace: No
Interior area
- Total structure area: 1,398
- Total interior livable area: 1,398 sqft
Property
Features
- Levels: One
- Stories: 1
- Fencing: Barbed Wire,Fenced
- Waterfront features: No
Lot
- Size: 7.73 Acres
Details
- Parcel number: 001404
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence, Residential
Materials
- Wood Siding, Vinyl Siding
- Foundation: Crawl Space, Pier & Beam
- Roof: Metal
Condition
- Year built: 1961
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
Community & HOA
Community
- Subdivision: None
Location
- Region: Cherokee
Financial & listing details
- Price per square foot: $125/sqft
- Tax assessed value: $78,130
- Annual tax amount: $1,012
- Date on market: 5/7/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/27/2026 | Price change | $175,000-6.4%$125/sqft |
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| 7/7/2026 | Price change | $187,000-0.5%$134/sqft |
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| 6/27/2026 | Price change | $188,000-0.5%$134/sqft |
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| 5/29/2026 | Price change | $189,000-5%$135/sqft |
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| 5/7/2026 | Listed for sale | $199,000+25.2%$142/sqft |
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| 2/2/2026 | Listing removed | $159,000$114/sqft |
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| 1/31/2026 | Price change | $159,000-20.1%$114/sqft |
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| 11/17/2025 | Price change | $199,000-7.4%$142/sqft |
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| 9/26/2025 | Price change | $215,000-8.5%$154/sqft |
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| 8/28/2025 | Listed for sale | $235,000-21.4%$168/sqft |
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| 8/22/2024 | Listing removed | -- |
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| 8/22/2024 | Price change | $299,000-14.6%$214/sqft |
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| 6/9/2024 | Listed for sale | $350,000+112.1%$250/sqft |
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| 9/25/2023 | Listing removed | -- |
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| 6/21/2023 | Contingent | $165,000$118/sqft |
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| 6/16/2023 | Listed for sale | $165,000+18.7%$118/sqft |
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| 2/23/2023 | Listing removed | -- |
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| 2/21/2023 | Listed for sale | $139,000-30.5%$99/sqft |
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| 1/23/2023 | Listing removed | -- |
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| 10/10/2022 | Listed for sale | $200,000$143/sqft |
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Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,012 +15.4% | $78,130 +17.5% |
| 2024 | $877 -3.2% | $66,510 +1.5% |
| 2023 | $906 -3.3% | $65,520 +7.2% |
| 2022 | $937 +14.7% | $61,140 +18.7% |
| 2021 | $817 | $51,500 +12.9% |
| 2020 | -- | $45,610 0% |
| 2019 | -- | $45,620 0% |
| 2018 | -- | $45,630 0% |
| 2017 | -- | $45,650 -6.3% |
| 2016 | -- | $48,720 +5.6% |
| 2015 | -- | $46,130 |
| 2014 | -- | $46,130 |
Find assessor info on the county website
Monthly payment
Est. payment







