Let me tell you why Tuesday’s auction of 3420 Ranchero in the honeypot of Plano is so very important: dirt. This area is the estate haven of Plano, equivalent to the honeypot of Old Preston Hollow in Dallas, or Hunters Glen in Highland Park. And the property can be had for less than its Collin County appraisal!
In the early 1970’s, as the town of Plano, Texas was just opening its sleepy eyes, James Muns and Don Dilmore developed Ranchero Country Estates. There were to be 19 properties on two meandering country roads, Ranchero and Rambling Way. On Ranchero, the property plots measured from 2 to 4.62 acres, and five properties were carved out on Rambling Road, all measuring from 1.92 to 2.33 acres.
The area is literally in the heart of Plano, off Parker Road, between the Tollway and Preston. The lots are gigantic, wooded, with tanks and ponds and natural surroundings that lure you into believing you are in the country, especially at night. For his own home, Muns chose a 4.62 acre parcel with the very, very best view of the sparkling pond.
The beauty of the area, as Muns and Dilmore well knew, was that it was landlocked. Nothing could ever be built around it — no towers, power lines, or roads. The west side faces a greenbelt. Thus the two created the perfect country-like subdivision within a city that would expand from a population of 27,000 to 225,000 in 45 years.
In 2017, Ranchero Estates now reigns as the premiere estate property region in one of the most sought-after communities in the nation.
3420 Ranchero was built as the developer’s own residence, a solid fortress designed to reel in other mansions. In 1972, the 4.62 acre grounds cost $500,000. Muns then went on to construct an 8,000 square foot estate with pier and beam foundation.
In 1996, one of Dallas’ top plastic surgeons, Dr. Peter Raphael and his wife, Linda, bought 3420 Ranchero to raise their family. They improved and added onto the house: the two story home now offers 10,891 square feet in the sprawling main house, 841 in the one-bedroom guest house. With a three car garage in the main house, and space for another three below the guest house, you have more than enough ample car parking. The home has been lovingly maintained: there are 12 HVAC units and four hot water heaters — that hot water will never run cold.
Nate Schar with Heritage Auction real estate division informed me late today that the property was last listed for $4,249,500 and the very motivated seller has agreed to sell this property at $2.4, which is now the minimum bid for the estate. Keep in mind that the Collin County Appraisal District says this home is worth $2.6.
So the seller is willing to let it go for below the county’s appraised value. That is huge.
“The reality is, we have someone who eagerly wants to sell this home,” says Nate.
The house is like a year-round vacation destination: a semi-private lake offers canoeing, kayaking, fishing, and paddle boarding. If you prefer a freshwater pool, dive into the huge olympic-style heated pool off the main living area. There is ample space for outdoor living — so much, in fact, that one spouse could live for months in one of the many exterior living areas in this estate without crossing paths with the other.
We are talking a lakefront lot of 4.6 acres, more than 10,281 square feet of knocked out interiors with six bedrooms, six full bathrooms, and two half baths. That means every single sleeping room is en suite plus. As if the perfect formulation of formals plus bedroom suites is not enough, there is a wine cellar, a game room, a home gym, all those garages, and multiple entertaining spaces. The estate includes a separate guesthouse with one bedroom and one bathroom, a heated swimming pool, and a lighted tennis court with covered pavilion.
Then there are the uber custom interiors: the home features beautiful 200-year-old Heart Pine custom wood flooring, vaulted ceilings, extensive natural stonework, and massive glass doors and windows that truly connect the home to the outdoors, creating a tree house effect in every room. The yard is so expansive, yet you still maintain a strong sense of seclusion and privacy.
Ranchero is truly a pastoral nirvana in Plano, but just 25 minutes from Dallas.
The allure of 3420 Ranchero Road stems not only from its impressive design, but also from its location in one of the Dallas area’s top-rated communities. It is surrounded and nested in by other upscale homes, many owned by celebrities, highly-rated Plano ISD schools, and numerous options for retail and dining.
“This home has the largest single-estate acreage available within Plano’s city limits,” Heritage Luxury Real Estate Auctions Director Nate Schar said. “Endless possibilities await the lucky buyer.”
Indeed, the property will be sold at auction on Tuesday, March 14.
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