Frankston Homes under $500,000

Welcome to Frankston, Texas, a hidden gem nestled in the heart of East Texas! Known for its warm community spirit and picturesque landscapes, Frankston offers a unique blend of small-town charm and modern conveniences. With a population of just over 1,000 residents, this quaint town is perfect for those seeking a peaceful lifestyle while remaining connected to the vibrant culture of nearby cities.

One of the most appealing aspects of Frankston is its affordability. Homebuyers will be delighted to discover a variety of homes available for under $500,000. Whether you’re a first-time buyer, a growing family, or looking to downsize, Frankston has something to suit every taste and budget. From cozy cottages to spacious family homes, the real estate market here is diverse and inviting.

Frankston is surrounded by natural beauty, with numerous parks, lakes, and outdoor recreational opportunities at your doorstep. The nearby Lake Palestine is a popular destination for fishing, boating, and picnicking, making it a perfect spot for family outings or weekend getaways. Additionally, the town hosts several community events throughout the year, fostering a strong sense of belonging among residents.

With its affordable housing options, stunning landscapes, and close-knit community, Frankston, Texas, is truly a wonderful place to call home. Explore the available properties today and discover the charm of Frankston living – where your dream home awaits!

Newest Frankston Homes under $500,000

$149,900

3 Beds ⋅ 2 Baths ⋅ 21390479 MLS

Enjoy easy lake-area living in this well-maintained 3-bedroom, 2-bath home just minutes from Lake Palestine and only a quick 20 minute drive to Tyler. With approximately 1,064 square feet, the home offers a comfortable, move-in-ready layout with warm tones and inviting finishes throughout. The open-concept living area creates an easy flow between the living, dining, and kitchen spaces, while the split-bedroom floor plan gives the primary suite added privacy from the additional bedrooms. A carport provides convenient covered parking, and the quiet corner lot adds to the home's peaceful setting. Outside, you'll find two storage sheds and a lean-to, providing plenty of space for storage, tools, lake gear, or outdoor equipment. Whether you're looking for a full-time home, a weekend getaway, or an investment property with rental potential, this home puts you close to one of East Texas's favorite lakes while keeping Tyler's everyday conveniences within easy reach. Come see this comfortable lake-area home and make it yours! Schedule your showing today.

22107 Lakewood Dr, Frankston

$459,999

3 Beds ⋅ 3 Baths ⋅ 21361697 MLS

Welcome to lakefront living in this beautifully updated 3-bedroom, 2-bath waterfront home located in a private, gated fishing community of approximately 60–65 homes. Whether you're looking for a full-time residence or the perfect weekend escape, this property offers a peaceful waterfront setting with direct lake access, a replaced boathouse and dock, and plenty of space to relax and entertain. The flexible floor plan includes a downstairs bedroom currently being used as an office and featuring a Murphy bed, making it easy to accommodate overnight guests while maintaining a dedicated workspace. Upstairs, the primary bedroom offers a special lakefront retreat with a lake-view balcony just outside the door—the perfect spot to enjoy morning coffee or unwind at the end of the day. The owners have completed extensive improvements, including replaced flooring, fresh interior paint, an added garage, replaced entry patio, painted deck, new primary bath window and an upstairs mini-split system. Additional upgrades include a new hot water heater, generator hookup, and propane servicing the gas stove and dryer. Starlink is available for reliable internet connectivity. Outside, enjoy fishing, boating and peaceful evenings under exceptionally dark skies where you can even catch views of the Milky Way. Nearby Pine Dunes Golf Course, often referred to as “Baby Augusta,” provides another great recreational option. Sellers are also happy to include the primary furnishings with a good offer, making this an excellent opportunity for buyers looking for a lake home or weekend retreat that can be enjoyed right away.

65 & 66 Private Rd, Frankston

$475,000

3 Beds ⋅ 2 Baths ⋅ 21360648 MLS

PRICE REDUCTION-MOTIVATED SELLERS..Welcome to this peaceful 10-acre barndominium retreat in Texas Mini Ranches, ideal for horses and country living. This home offers more than 2,510 square feet with 3-bedrooms, 2-bathrooms, two living areas, a large bonus room, and a freestanding wood-burning stove. One-foot-thick walls, deep window casements, and large picture windows add warmth and character throughout. The spacious kitchen, custom designed two years ago, features soft-close hickory cabinetry, granite countertops, stainless steel appliances, a gas range, a refrigerator-freezer with filtered water and dual ice makers, and a large island with exceptional storage. The main-level primary suite includes double closets with an adjacent bathroom and laundry area. Upstairs are two additional bedrooms, a full bathroom, and a huge walk-in attic extending the length of the home, with indoor access from both ends. The main-level bonus room is ideal for an office or hobby space and includes a sink and cabinet. It can also be removed, with matching flooring available. Relax on the covered porch overlooking the acreage and countryside. The property consists of two 5-acre parcels, offering the potential to build another home or sell a parcel, with separate access. Outdoor features include two metal storage buildings, covered equipment storage, a year-round pond, two dry ponds, mature oak trees, open pasture, fencing on three sides, and drive-through access. There is plenty of room for horses, livestock, gardening, and recreation. Texas Mini Ranches membership provides access to Pinewoods Lake for fishing and boating, while Pine Dunes Public Golf Course is minutes away. With no neighboring home in view, this property offers privacy, versatility, abundant storage, and peaceful country living. Deer sightings and a beautiful drive over the lake add to the charm. Schedule your showing and bring your best offer. The owners will consider all reasonable offers.

145 Private Rd, Frankston

$349,900

4 Beds ⋅ 3 Baths ⋅ 21344069 MLS

Discover peaceful country living at 1092 AN County Road 318 in Frankston. Situated on approximately 12.44 acres, this spacious 4-bedroom, 3-bath home offers approximately3,542 square feet of living space with plenty of room to make it your own. The property features mature trees, expansive outdoor areas, and a barn that provides additional space for equipment, storage, animals, or other agricultural uses. The generous floor plan offers flexibility for everyday living and entertaining. Bring your vision and personal touches to unlock the full potential of this unique East Texas property.

1092 An County Road 318, Frankston

$460,000

3 Beds ⋅ 2 Baths ⋅ 21183753 MLS

Piney Woods Lake is located just a few minutes south of Frankston. This beautiful brick home with 2386 sq ft of living space, sitting on 9.96, two adjoining lots, partially wooded acres. Five acres are maintained, and the remainder of the property is wooded forest. The main house is a 3 bedroom and 2 bath single story home, the additional 24 x 24 studio sits detached from the house separated by a covered patio and carport. The studio incudes a large full bath, large picture window in the main room brings in the property views to watch the deer stroll through the property and add natural light. The studio and garage were added in 2016. Also added in 2016, Tile, carpets, primary bathroom shower, and hall bathroom upgrades. The kitchen additions from 2022 include convection oven, microwave, granite counter tops, backsplash, and gas stove. The brick gas fireplace in the living room includes built in bookshelves. The second common living area added on the back of the home adds that additional living space with windows that draw the beauty of this property indoors. HVAC and compressor replaced in 2023. Tankless water heater runs on propane. The garage is finished with storage room. The well, used for irrigation, has 8 water stations on property. Additional equipment garage or workshop with slab floor. Also, a 20 x 10 raised storage shed located on the property too. The exterior was just painted in Feb of 2025.

230 County Road 3191, Frankston

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Listings provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.

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