4551 Fm 1148, Possum Kingdom Lake, TX 76450 - Photo 1

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$799,000

For Sale
Active
Single Family
3 Beds
2 Full Baths
0.474 Acres

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Property Description

The price changed just in time for summer, but the million-dollar lake views didn't! Waterfront home on Possum Kingdom Lake with a 2-story dock! Designed for making memories, this lakefront retreat located on the sought-after West Side of Possum Kingdom Lake features a large dock ready to hold your lake toys, a gentle beach entry, and beautiful lake views. The home offers a large lakeside entertaining room, multiple patios, and a fully fenced yard for ultimate privacy. Enjoy a spacious grassy yard, covered parking, air-conditioned storage shed, and ample concrete parking for boats or RVs. Conveniently located 15 minutes from the charming town of Graham, with restaurants and amenities around the corner. Upgraded throughout, sold fully furnished, and approved for short-term rentals - this lake retreat is perfect for entertaining, relaxing, or generating income. Motivated seller! Your summer 2026 could be spent here! Sunsets, boating, and lake life included.

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Full Property Details

Full Property Details for 4551 Fm 1148

General

Price: $799,000
Status: Active
Type: Single Family
Source: NTREIS
MLS ID: 21269990
Updated: 5/27/2026
Added to Site: 59 day(s) ago

Interior

Interior Features: High Speed Internet
Fireplace: Yes
Number of Fireplaces: 1
Fireplace(s): Family Room
Appliances: Dryer, Electric Oven, Microwave, Refrigerator, Washer

Rooms

Bathrooms

Total Bathrooms: 2
Full Bathrooms: 2

Bedrooms

Total Bedrooms: 3

Parking

Carports: Yes
Carport Spaces: 2
Covered Spaces: 2
Parking Features: Additional Parking, Boat, Concrete

Location

County: Palo Pinto
Subdivision: West Side
Driving Directions: South out of Graham on FM 1287. Left on FM 1148. Cabin is on the right just before you get to Bass Hollow entrance

School Information

Elem School District: Graford ISD
Midd School District: Graford ISD
High School District: Graford ISD
Elementary School: Graford
Middle School: Graford
High School: Graford

Utilities

Sewer: Septic Tank
Water: Public
Utility Description: Electricity Available, Septic Available, Water Available

Structural Information

Property Detached: Yes
Structure Type: House
Detached/Attached: Detached
Stories/Levels: 1
Living Area: 2,194 Sq. Ft.
Year Built: 1986

Lot Features

Lot Size (Acres): 0.474
Lot Size (Sq. Ft.): 20,647.44

Water Features

Water Front: Yes
Water Front Desc.: Boat Dock/Slip, Lake Front
Lake Front: Yes

Financial Considerations

For Sale/Rent/Lease: For Sale

Disclosures and Reports

Property ID: 23051

Listed by Smart Realty, Ava Fernandez

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Listing agent

— 4551 Fm 1148 —

Ava Fernandez

Smart Realty

817-999-3067

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NMLS#: 1598647

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Schools

Schools serving 4551 Fm 1148

School District:Graford Independent School District

Name	Grades	Distance
Graford High School 400 West Division Street, Graford, TX 76449	PK-12	14.5 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 4551 Fm 1148 Get Price Alerts and Save Property

Date

Details

Price

Change

Source

5/27/2026

Price Reduced

$799,000

-1.96%

MLS

5/13/2026

Listed

$815,000

—

MLS

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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 4551 Fm 1148

Year

Property Taxes

Change

Tax Assessment

Change

2025

$7,166

30%

$489,600

16%

2023

$5,518

—

$423,270

13%

2023

$5,518

-4%

$373,880

—

2022

$5,762

44%

$373,880

63%

2021

$4,000

-6%

$229,640

—

2020

$4,265

18%

$229,640

19%

2019

$3,608

-1%

$192,790

—

2018

$3,651

2%

$192,790

—

2017

$3,594

2%

$192,790

1%

2016

$3,521

—

$191,690

—

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 4551 Fm 1148

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4551 Fm 1148, Possum Kingdom Lake, TX 76450 (MLS# 21269990) is a Single Family property with 3 bedrooms and 2 full bathrooms. 4551 Fm 1148 is currently listed for $799,000 and was received on May 13, 2026. Want to learn more about 4551 Fm 1148? Do you have questions about finding other Single Family real estate for sale in Possum Kingdom Lake? You can browse all Possum Kingdom Lake real estate or contact a Coldwell Banker agent to request more information.

4551 Fm 1148 Possum Kingdom Lake, TX 76450