A rare and exceptional opportunity in the heart of Southlake — this expansive 1-acre property offers privacy, flexibility, and the freedom to create your dream estate, all within the acclaimed Carroll ISD and with no HOA restrictions. A single-story home currently occupies the lot, featuring 3 bedrooms, 2 bathrooms, 2 living areas, 2 dining rooms, and a 2-car garage. The extended driveway allows for ample guest parking, while a detached barn provides versatile storage for large items, a boat, motorcycle, or third vehicle. Whether you choose to renovate or rebuild, the existing structure offers the unique benefit of on-site living while you plan your future. The flat, open lot is beautifully appointed with mature trees and lush grassy areas — an ideal setting for outdoor living, and for children and pets to run and play in complete comfort and safety. Just minutes from Lake Grapevine, enjoy walkable or bikeable access to scenic trails, parks, and waterfront recreation. Set on a peaceful, tree-lined street surrounded by custom homes, the property offers both serenity and convenience — with easy access to Southlake Town Square, fine dining, boutique shopping, top-tier schools, major highways, and DFW Airport. Bring your own builder, with utilities in place and no timeline to build. Acreage, location, and freedom of use this close to it all is a rare find. Bring your vision to life at 1261 Emerald Circle. Schedule your private showing today.