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505 E Fm 501, 
Cherokee, TX 76832

$199,000


3

Beds


2

Baths


1,398

Sq Ft


Single Family

Active

Listed by

Claire Liddiard

Landmasters Real Estate

Last updated:

May 9, 2026, 02:18 PM

MLS#

177842

Source:

TX HLAR

About This Home

505 E Fm 501

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.

Home Facts

Single Family

2 Baths

3 Bedrooms

Built in 1961

Price Summary

199,000

$142 per Sq. Ft.

MLS #:

177842

Last Updated:

May 9, 2026, 02:18 PM

Added:

20 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

1

Interior

Living Area:

1,398 Sq. Ft.


Structure

Structure

Building Area:

1,398 Sq. Ft.

Year Built:

1961


Lot

Lot Size (Sq. Ft):

336,718


Finances & Disclosures

Finances

Price:

$199,000

Price per Sq. Ft:

$142 per Sq. Ft.

Source:TX HLAR
Copyright 2026 Highland Lake Association of Realtors. Information is provided exclusively for consumers' personal, non-commercial use, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and the data is deemed reliable but is not guaranteed accurate by the MLS.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.