Discover one of the best land values in the Fredericksburg area! This is the lowest-priced acreage lot near Fredericksburg, Texas, offering an incredible opportunity to build your Hill Country dream home without sacrificing space or flexibility. Located in the desirable Oakwater Subdivision, this AG-exempt property features multiple level building sites and reasonable HOA restrictions designed to preserve the beauty of the community while allowing flexibility for your plans. Build a custom home, or explore approved modular and certain manufactured home options (subject to HOA approval).Restrictions require a minimum 1,400-square-foot primary residence and allow up to three additional structures, giving you room for a workshop, guest house, barn, or studio. Enjoy the peaceful ranch-style setting with community amenities including a pavilion and playscape. The HOA maintains an easement over a portion of the property for access to these amenities. Electricity is available at the lot; a well and septic system will be needed. The property is AG exempt, with current taxes of only $148.42 per year. The neighboring lots are also available for purchase, creating a rare opportunity to expand your acreage. The gated entrance is operational—simply contact the listing agent for the access code before your showing. If you've been searching for affordable land near Fredericksburg, Texas Hill Country acreage, or a place to build your dream home at an exceptional value, this property deserves a closer look.