1002 Cedar Drive, Possum Kingdom Lake, TX 76449
Gaines Bend · Palo Pinto County
Key Facts
Description
Tucked into a quiet, protected cove at the approach to Hell’s Gate, this nearly one-acre Gaines Bend property offers expansive water views, calm no-wake water, and one of the most recognizable locations on Possum Kingdom Lake. The 3-bedroom, 3-bath home is positioned to capture sweeping sunset views while enjoying the privacy of a protected cove just outside the activity of Hell’s Gate. From its elevated setting, you can watch fireworks light up the sky overhead — close enough to enjoy the show, yet removed from the congestion and heavy boat traffic. Designed for gathering and easy lake living, the home opens to layered composite decks that create multiple outdoor living zones. A covered patio with fireplace, grilling station, and open-air lounge areas overlook the water, while a lakeside tiki retreat provides a tucked-away perch near the shoreline. Inside, the layout is comfortable and functional, offering flexibility for weekend guests or full-time lake living. A stone retaining wall and stairway lead to a private dock with boat lift in approximately 12 feet of water at full pool. The nearly one-acre setting provides uncommon elbow room in Gaines Bend — space for lake toys, gatherings, and future personalization. Whether envisioned as a weekend escape or full-time lake residence, this property offers the rare balance of protected water, iconic proximity, and room to make it your own.
Property Information
Property Type
Residential
Sub-Type
Single Family Residence
Structure Type
House
Year Built
2012
Living Area
2,199 sq ft
Lot Size
0.92 acres
Days on Market
91
MLS® Listing#
21193524
Property Features
Interior
Exterior
Appliances
Cooling
Heating
Flooring
Fireplace
Parking
Laundry
Patio
Fencing
Lot Features
Foundation
Roof
Windows
Security
Other Structures
Community
Rooms
- Living Room0 x 0First
- Master Bedroom0 x 0First
Schools
- Elementary:
- Palo Pinto
- Middle:
- Palo Pinto
- High:
- Mineral Wells
- District:
- Palo Pinto ISD
Financial Details
HOA
$1,000 / Annually
PMI - Metroplex
Annual Taxes
$11,554
Parcel Number
16521
Directions
Enter the Gaines Bend subdivision from Hwy 16. Drive approximately 3.2 miles on Gaines Bend Drive to Cedar Drive and turn left. Continue to the end of the road; the property will be on the left.
Affordability Calculator
$285,000
Estimated monthly payment
$7,584/mo
Principal $1,140,000 · Est. interest $1,590,401 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Possum Kingdom Lake, TX
- $393,277
- Median Listing Price
- 98
- Median Days on Market
- 1,861
- Median Sq Ft
- $223
- Median Price / Sq Ft
- 1,190
- Active Listings
- This home’s price is 262% above the area median.
- Its price per sq ft is 191% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Possum Kingdom Lake, TX.
Location
Points of Interest in Possum Kingdom Lake, TX
Showing the Possum Kingdom Lake area map.
Nearby Schools
Palo Pinto Independent School District
Elementary · 11.0 mi away
Graford Isd
School · 13.4 mi away
Presbyterian Church
Elementary · 17.1 mi away
Woodland Elementary School
Elementary · 17.6 mi away
Graham High School
Secondary · 18.0 mi away
Pioneer Elementary School
Elementary · 18.2 mi away
Graham Learning Center
School · 18.5 mi away
Graham Junior High School
Secondary · 18.5 mi away
Graham J H
Secondary · 18.5 mi away
Open Door Christian School
School · 18.7 mi away
Graham Independent School District
School · 18.9 mi away
Crestview Elementary School
Elementary · 18.9 mi away
Houston Elementary
Elementary · 20.5 mi away
Travis Elementary
Elementary · 21.0 mi away
Strawn Isd
Elementary · 21.4 mi away
Strawn School
School · 21.4 mi away
Mineral Wells Independent School District
Secondary · 21.4 mi away
Gordon School
School · 21.6 mi away
Bryson High School
Secondary · 21.8 mi away
Lamar Elementary
Elementary · 21.8 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 20 N Peak RD, West Lake Hills, TX | $999,000 | 2 | 1 | 1,192 |
| 2116 Comal Springs, Canyon Lake, TX | $999,999 | 4 | 4 | 3,049 |
| 2116 Comal Springs, Canyon Lake, TX | $999,999 | 4 | 4 | 3,049 |
| 1210 COUNTRY PIKE, Canyon Lake, TX | $1,029,900 | 3 | 2 | 3,160 |
| 502 Cindy Dr, Canyon Lake, TX | $1,046,000 | 4 | 3 | 3,170 |
| 100 Mohawk Cove, Lake Kiowa, TX | $1,049,900 | 3 | 3 | 2,550 |
Moving Cost Estimate
EXIT Agents in Possum Kingdom Lake
Listing Courtesy: The Brokerage Residential LLC - 972-379-7486
Presented by: Jackie Fewell
Last Updated: 2026-02-26