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$199,000 Just Listed
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Property Description
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.
Full Property Details
Full Property Details for 505 E Fm 501
General
- Price: $199,000
- Status: Active
- Type: Single Family
- Source: Highland_Lakes_MLS
- MLS ID: 177842
- Updated: 5/7/2026
- Added to Site: 7 day(s) ago
Interior
- Rooms/Areas: Laundry, Utility Room Inside
- Flooring: Laminate
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 1
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 3
Location
- County: San Saba
- Subdivision: None
- Driving Directions: Turn east on FM 501. Home is about .4 miles down on the left side.
School Information
- High School District: Cherokee
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Electric
Utilities
- Sewer: Septic Tank
- Water: Well
Structural Information
- Construction: Wood Siding, Vinyl Siding
- Foundation: Crawl Space, Pier & Beam
- Roof: Metal
- Stories/Levels: 1
- Square Feet: 1,398
- Sq. Ft. Source: Appraiser
- Living Area: 1,398 Sq. Ft.
- Year Built: 1961
Unit Information
- Residential Units: 1
Lot Features
- Lot Size (Acres): 7.73
- Lot Size (Sq. Ft.): 336,718
- Fence: Yes
- Topography: Cleared Land, Wooded Land
- Fencing (Description): Barbed Wire, Wire, Fenced
Water Features
- Water Front View: No
Financial Considerations
- Price Per Sq. Ft.: $142.35
Disclosures and Reports
- Legal Description: J FROMME ABST 365 SURV 87 3.863 AC FISHER & MILLER ABST 331 SURV 363 3.870 AC
- Property ID: 1404
Listed by Landmasters Real Estate, Claire Liddiard
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Schools
Schools serving 505 E Fm 501
School District:Cherokee Independent School District
| Name | Grades | Distance |
|---|---|---|
Cherokee School 305 North Indian Avenue, Cherokee, TX 76832 | PK-12 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 505 E Fm 501
Date
Details
Price
Change
Source
5/07/2026
Listed
$199,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 505 E Fm 501
Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,012
8%
$78,130
17%
2022
$937
—
$66,510
2%
2022
$937
—
$65,520
7%
2022
$937
15%
$61,140
19%
2021
$817
—
$51,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 505 E Fm 501
505 E Fm 501, Cherokee, TX 76832 (MLS# 177842) is a Single Family property with 3 bedrooms, 1 full bathroom and 1 partial bathroom. 505 E Fm 501 is currently listed for $199,000 and was received on May 07, 2026. Want to learn more about 505 E Fm 501? Do you have questions about finding other Single Family real estate for sale in Cherokee? You can browse all Cherokee real estate or contact a Coldwell Banker agent to request more information.

