Lot 285 E Hells Gate Drive, Possum Kingdom Lake, TX 76449 - Photo 1

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$535,000 -$84,000 (-13.57%) Price Reduced

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Active
Lots/Land
0.725 Acres
Updated 6 days ago

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Property Description

Stunning Cliffside Lot Overlooking Iconic Hells Gate Cove in Gaines Bend on Possum Kingdom Lake. Don't miss this rare opportunity to own a premium elevated homesite with panoramic views of the legendary Hells Gate Cove and Devils Island. This exceptional location offers breathtaking dual lake views into PK's most popular Lake Cove and views to the cove behind -even from the ground level. Perfectly positioned for your custom dream home, this lot is ideal for an infinity pool, sprawling lakefront patios, and a luxurious estate getaway. Located one of the most premier gated communities at Possum Kingdom Lake, enjoy the perfect blend of privacy and upscale living with minimal building restrictions. Property owners have access to a private boat launch and day slips, with full-time boat slips available for lease at nearby Marina. Build your private lakefront sanctuary in one of Texas' most sought-after waterfront destinations. Ideal for vacation homes, investment properties, or full-time luxury living.

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Full Property Details

Full Property Details for Lot 285 E Hells Gate Dr

General

Price: $535,000
HOA FEE: $67/month
HOA FEE FREQ.: Annually
Taxes: $5,357
Status: Active
Type: Lots/Land
Source: NTREIS
MLS ID: 20921149
Updated: 1/14/2026
Added to Site: 251 day(s) ago

Additional Information

Shared Pool: Yes
Pool: Yes
Pool Description: Community

Location

County: Palo Pinto
Subdivision: Gaines Bend
Driving Directions: From intersection of Gaines Bend Drive and E Hells Gate Dr. Travel West on East Hells Gate drive 0.5 miles. Lot is on left between two houses.

School Information

Elem School District: Palo Pinto ISD
Midd School District: Palo Pinto ISD
High School District: Palo Pinto ISD
Elementary School: Palo Pinto
Middle School: Palo Pinto
High School: Palo Pinto

Community

Gated community: Yes
Association: Yes
Assoc. Name: GBPOA
Assoc. Fees Include: All Facilities, Maintenance Grounds, Sewer, Security, Trash

Utilities

Utility Description: Electricity Available, Sewer Available

Structural Information

Detached/Attached: Detached
Current Bldg. Use: Unimproved

Lot Features

Property View: Water
Lot Size (Acres): 0.725
Lot Size (Sq. Ft.): 31,581
Lot Size Source: Assessor
Frontage: Private Road
Lot Features: Level, Rock Outcropping, Subdivision, Waterfront
Development Status: Site Plan Approved, Streets Installed
Potential Use: Single Family
Trees/Vegetation: Cleared
Zoning: residential

Water Features

Water Front: Yes
Water View: Yes
Water Front Name: Possum Kingdom
Water Front Desc.: Lake Front, Waterfront
Lake Front: Yes
Boat Dock Slip: Yes

Financial Considerations

Association Fee: $800
Assoc Fee Freq.: Annually
Tax Amount: $5,357
Terms: Cash, Conventional

Disclosures and Reports

Documents Avail.: Aerial, Survey
Legal Description: ACRES: 0.725 GAINES BEND PK LAKE BLK 1 LOT 28
Property ID: 568117
Block: 1
Lot Number: 285

Listed by Possum Kingdom Real Estate, Keith Hanssen and Possum Kingdom Real Estate, Jonathan Fowler

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Listing agents

— Lot 285 E Hells Gate Dr —

Keith Hanssen

Possum Kingdom Real Estate
Jonathan Fowler

Possum Kingdom Real Estate

(940) 779-1111

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NMLS#: 1598647

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Price & Sales History for Lot 285 E Hells Gate Dr Get Price Alerts and Save Property

Date

Details

Price

Change

Source

1/14/2026

Price Reduced

$535,000

-13.57%

MLS

5/14/2025

Listed

$619,000

—

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 Lot 285 E Hells Gate Dr

Year

Property Taxes

Change

Tax Assessment

Change

2024

$12

—

$860

-5%

2023

$12

-14%

$910

—

2022

$14

-61%

$910

-56%

2021

$36

38%

$2,060

48%

2020

$26

—

$1,390

—

2019

$26

—

$1,390

—

2018

$26

4%

$1,390

—

2017

$25

56%

$1,390

58%

2016

$16

—

$880

—

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 Lot 285 E Hells Gate Dr

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Lot 285 E Hells Gate Drive, Possum Kingdom Lake, TX 76449 (MLS# 20921149) is a Lots/Land property with a lot size of 0.725 acres. Lot 285 E Hells Gate Drive is currently listed for $535,000 and was received on May 14, 2025. Want to learn more about Lot 285 E Hells Gate Drive? Do you have questions about finding other Lots/Land 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.

Lot 285 E Hells Gate Dr Possum Kingdom Lake, TX 76449