FM 1148
Killeen, TX 76540
(on 320 acres)
Home Highlights
Listed
178 days ago
Local Information
- Map ViewExplore the area around FM 1148.
- Schools1 Preschool School1 Elementary School1 Middle School1 High School
- Shop & Eat
-- mins to
About this House
An exceptional opportunity to acquire 320± acres overlooking Possum Kingdom Lake in the heart of Palo Pinto County, featuring Caudill Mountain, a named county summit rising to approximately 1,360+ feet in elevation. This unique high point offers commanding views of Possum Kingdom Lake on one side and a sweeping valley panorama on the other, creating a rare dual-aspect vantage seldom found on privately held ranch land.
The property showcases dramatic topography with rolling hills, rugged slopes, elevated ridgelines, and scenic high points that provide expansive views from multiple locations. Native oak, mesquite, and cedar blend with open pasture and grassed areas, delivering both visual appeal and functional grazing capacity. Two established stock tanks and a water tap enhance the ranch’s recreational and agricultural utility, supporting wildlife and livestock operations. The property benefits from an existing agricultural exemption and is well-suited for cattle operations, hunting, recreational use, and future residential development. The ranch also includes a cellular communications tower generating approximately $500 per month in rental income, with all electrical service and related utility costs paid by the tower operator, providing supplemental passive revenue. With approximately 2,000 feet of FM road frontage, access is provided via an all-weather road and available co-op electric service. The ranch is unzoned and unrestricted, allowing flexibility for a private estate, legacy ranch, recreational retreat, or long-term investment holding. Wildlife is abundant, including whitetail deer, hogs, dove, ducks, and native game species. The varied terrain and vegetation create diverse habitat and natural cover throughout the property. This is a rare opportunity to own a landmark-quality ranch centered around one of Palo Pinto County’s signature high points—offering elevation, views, privacy, income potential, and versatility in a premier Possum Kingdom Lake setting.
The property showcases dramatic topography with rolling hills, rugged slopes, elevated ridgelines, and scenic high points that provide expansive views from multiple locations. Native oak, mesquite, and cedar blend with open pasture and grassed areas, delivering both visual appeal and functional grazing capacity. Two established stock tanks and a water tap enhance the ranch’s recreational and agricultural utility, supporting wildlife and livestock operations. The property benefits from an existing agricultural exemption and is well-suited for cattle operations, hunting, recreational use, and future residential development. The ranch also includes a cellular communications tower generating approximately $500 per month in rental income, with all electrical service and related utility costs paid by the tower operator, providing supplemental passive revenue. With approximately 2,000 feet of FM road frontage, access is provided via an all-weather road and available co-op electric service. The ranch is unzoned and unrestricted, allowing flexibility for a private estate, legacy ranch, recreational retreat, or long-term investment holding. Wildlife is abundant, including whitetail deer, hogs, dove, ducks, and native game species. The varied terrain and vegetation create diverse habitat and natural cover throughout the property. This is a rare opportunity to own a landmark-quality ranch centered around one of Palo Pinto County’s signature high points—offering elevation, views, privacy, income potential, and versatility in a premier Possum Kingdom Lake setting.
Home Details for FM 1148
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Appliances & Utilities Utilities: Electricity Available, Other, See Remarks |
View Has a ViewView: Water |
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Exterior Home Features Fencing: Barbed Wire, Perimeter, WireVegetation: Brush |
Frontage Road Frontage: All Weather RoadNot on Waterfront |
Surface & Elevation Topography: Hill, Rough |
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Cumulative Days on Market: 353Days on Market: 178 |
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Property Type / Style Property Type: LandProperty Subtype: Unimproved Land |
Property Information Usage of Home: Agricultural, Cattle, Investment, Other, Ranch, Residential, Recreational, Single FamilyNot Included in Sale: Four Wheelers and any other ATV/UTV on the property, Mineral RightsParcel Number: 09527 |
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Price List Price: $2,464,000 |
Status Change & Dates Possession Timing: Close Of Escrow |
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MLS Status: Active |
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Direction & Address City: GrafordCommunity: Alex Stringer |
School Information Elementary School: GrafordElementary School District: Graford ISDJr High / Middle School: GrafordJr High / Middle School District: Graford ISDHigh School: GrafordHigh School District: Graford ISD |
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Listing Agent Listing ID: 21167684 |
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No HOA |
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Lot Area: 320 Acres |
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Listing Terms: Cash, Conventional, Owner Will Carry |
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Mls Number: 21167684Living Area Range Units: Square FeetWater ViewAttribution Contact: 469-363-0209 |
Last check for updates: about 6 hours ago
Listing courtesy of Charles Horton 0546099, (469) 363-0209
The Michael Group Real Estate, 469-363-0209
Laura Horton 0546101, (214) 909-4205
The Michael Group Real Estate, (817) 577-9000
Source: NTREIS, MLS#21167684
Also Listed on NTREIS.
Market trends in Graham
Last updated June 2026
Avg. sale price
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Sale-to-List Price
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Price per sq ft
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Available listings
106
2MoM
Price History for FM 1148
| Date | Price | Event | Source |
|---|---|---|---|
| 08/04/2025 | $2,464,000 | Listed For Sale | NTREIS #21018181 |
| 06/26/2025 | $2,464,000 | ListingRemoved | NTREIS #20836498 |
| 02/11/2025 | $2,464,000 | Listed For Sale | NTREIS #20836498 |
| 05/31/2024 | $2,464,000 | ListingRemoved | NTREIS #20196641 |
| 11/08/2022 | $2,464,000 | Listed For Sale | NTREIS #20196641 |
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Comparable Sales for FM 1148
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
2.55 | Lot/Land | - | 08/14/25 | - | - | ||
2.57 | Lot/Land | - | 09/02/25 | - | - | ||
3.17 | Lot/Land | - | 06/30/26 | - | - | ||
2.97 | Lot/Land | - | 01/01/26 | - | - | ||
3.42 | Lot/Land | - | 03/17/26 | - | - | ||
3.59 | Lot/Land | - | 11/07/25 | - | - | ||
4.00 | Lot/Land | - | 10/15/25 | - | - | ||
4.01 | Lot/Land | - | 08/29/25 | - | - | ||
4.06 | Lot/Land | - | 07/10/26 | - | - | ||
4.07 | Lot/Land | - | 04/07/26 | - | - |
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Assigned Schools
These are the assigned schools for FM 1148.
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.
What Locals Say about Graham
At least 39 Trulia users voted on each feature.
97 % Say parking is easy
94 % Say yards are well-kept
91 % Say car is needed
84 % Say kids play outside
79 % Say there's holiday spirit
68 % Say it's dog friendly
67 % Say people would walk alone at night
62 % Say it's quiet
58 % Say they plan to stay for at least 5 years
55 % Say neighbors are friendly
44 % Say there's wildlife
35 % Say there are community events
30 % Say it's walkable to restaurants
30 % Say there are sidewalks
28 % Say it's walkable to grocery stores
23 % Say streets are well-lit
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Charles Horton, The Michael Group Real Estate, 469-363-0209
Agent Phone: (469) 363-0209
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
FM 1148, Killeen, TX 76540 is a lot/land. This property is currently available for sale and was listed by NTREIS on Feb 1, 2026. The MLS # for this home is MLS# 21167684.