Live, Earn, and Grow, All in One Property!
Opportunities like this are hard to find. Sitting on 3.44 beautifully maintained acres in highly sought-after Santo ISD, just outside city limits, this one of a kind property is built for multi-generational living, rental income, or a home based business. With three separate living spaces, the possibilities are wide open. The main home 1,991 sq ft offers a spacious layout with 2 bedrooms, 2 bathrooms, a large living area, utility room, and an oversized game room perfect for entertaining or easily converting into additional living space. Enjoy quiet evenings under the covered patio and the convenience of a covered carport. The second home 840 sq ft is fully equipped with 2 bedrooms, 1 bath, full kitchen, utility room, and inviting covered porches. Whether used for rental income, extended family, or guests, it’s completely move-in ready. An added bonus outdoor shower for that true country feel. The charming cottage 144 sq ft provides a private retreat ideal for guests, an office, or creative space. For work or hobbies, the 30×40 foam insulated shop with a 20×15 office and bathroom is a standout feature perfect for running a business, storing equipment, or creating the ultimate workshop. The property is set up for flexibility with co op water and well water, adding efficiency and value. Location seals the deal conveniently positioned between Stephenville, Granbury, Mineral Wells, and Gordon, giving you quick access to dining, shopping, and medical facilities while still enjoying peaceful country living. Whether you want to live in one home and rent the others, create a family compound, or run your business from home this property delivers. Don’t miss your chance to own a truly versatile property with income producing potential schedule your showing today!
Opportunities like this are hard to find. Sitting on 3.44 beautifully maintained acres in highly sought-after Santo ISD, just outside city limits, this one of a kind property is built for multi-generational living, rental income, or a home based business. With three separate living spaces, the possibilities are wide open. The main home 1,991 sq ft offers a spacious layout with 2 bedrooms, 2 bathrooms, a large living area, utility room, and an oversized game room perfect for entertaining or easily converting into additional living space. Enjoy quiet evenings under the covered patio and the convenience of a covered carport. The second home 840 sq ft is fully equipped with 2 bedrooms, 1 bath, full kitchen, utility room, and inviting covered porches. Whether used for rental income, extended family, or guests, it’s completely move-in ready. An added bonus outdoor shower for that true country feel. The charming cottage 144 sq ft provides a private retreat ideal for guests, an office, or creative space. For work or hobbies, the 30×40 foam insulated shop with a 20×15 office and bathroom is a standout feature perfect for running a business, storing equipment, or creating the ultimate workshop. The property is set up for flexibility with co op water and well water, adding efficiency and value. Location seals the deal conveniently positioned between Stephenville, Granbury, Mineral Wells, and Gordon, giving you quick access to dining, shopping, and medical facilities while still enjoying peaceful country living. Whether you want to live in one home and rent the others, create a family compound, or run your business from home this property delivers. Don’t miss your chance to own a truly versatile property with income producing potential schedule your showing today!
Property Details
Price:
$544,995
MLS #:
21105697
Status:
Active
Beds:
2
Baths:
2
Type:
Single Family
Subtype:
Single Family Residence
Listed Date:
Nov 6, 2025
Finished Sq Ft:
1,991
Lot Size:
149,846 sqft / 3.44 acres (approx)
Year Built:
2012
See this Listing
Schools
School District:
Santo ISD
Elementary School:
Santo
Middle School:
Santo
High School:
Santo
Interior
Bathrooms Full
2
Cooling
Ceiling Fan(s), Central Air, Wall Unit(s)
Flooring
Concrete, Laminate
Heating
Central, Electric
Interior Features
Cathedral Ceiling(s), Eat-in Kitchen, High Speed Internet Available, In- Law Suite Floorplan, Open Floorplan, Other
Number Of Living Areas
1
Exterior
Construction Materials
Steel Siding
Exterior Features
Covered Patio/Porch, Rain Gutters, Outdoor Shower, Private Entrance, RV Hookup, Storage
Fencing
Cross Fenced, Perimeter, Other
Lot Size Area
3.4400
Number Of Residences
2
Number Of Separate Water Meters
1
Number Of Tanks And Ponds
1
Number Of Wells
1
Financial
Map
Community
- Address20531 S FM 4 Lipan TX
- CityLipan
- CountyPalo Pinto
- Zip Code76462
Subdivisions in Lipan
- Abstract 217-Lewis P Cooke Survey
- Acres 53.659, A0493 LOPEZ JOSE F
- Aiken W J Ne
- AIKEN W J NORTH
- Blanton Elijah
- C SHIPMAN – ABST 520
- C-Bell Add
- George Treighen Surv Abs #431
- GW TREIGHEN Abs #431
- HILL COUNTRY SEC 1
- Homestead Acres
- James Cole Surv Abst #91
- KICKAPOO ESTATES
- Lipan
- new subdivision
- no
- OLD WD RANCH
- Old Wd Ranch Ph I Sec D
- Old Wd Ranch Ph I Sec E
- OLD WD RANCH SUBDIVISION
- Roping Oaks
- Sugar Tree on the Brazos
- Sugartree Golf Club Add
- Sugartree Golf CLub Addn Ph III
- Sugartree On The Brazos
- THE RANCHES AT STAR HOLLOW
- Wilson Bend Ph 1
- Wilson Bend Phase 1
- WM D THOMASON
Market Summary
Current real estate data for Single Family in Lipan as of May 01, 2026
51
Single Family Listed
126
Avg DOM
485
Avg $ / SqFt
$1,024,467
Avg List Price
Property Summary
- 20531 S FM 4 Lipan TX is a Single Family for sale in Lipan, TX, 76462. It is listed for $544,995 and features 2 beds, 2 baths, and has approximately 1,991 square feet of living space, and was originally constructed in 2012. The current price per square foot is $274. The average price per square foot for Single Family listings in Lipan is $485. The average listing price for Single Family in Lipan is $1,024,467. To schedule a showing of MLS#21105697 at 20531 S FM 4 in Lipan, TX, contact your Spencer TX Real Estate, LLC agent at (817) 937-8532.
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