Own Your Own Town: Albert, Texas, for Sale

You can own a historic town for less than $1 million.

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If you've ever had aspirations of owning your own town but didn't have the means, now might be the perfect time for you. The ghost town of Albert, which encompasses 13 acres nestled in the Texas hill country, 20 miles east of Fredericksburg, is up for sale. Price: $883,000.

The town's features include an 85-year-old dance hall, an icehouse and beer garden, a creek, a historic limestone schoolhouse (attended by President Lyndon B. Johnson in 1920), pecan and peach orchards, and a three-bedroom, two-bathroom home.

Albert had 50 residents in 1925 and only 25 in 2000, according to the Handbook of Texas . By 2007, the town was nearly abandoned. A worn-out sign reads, "Population 4." Just think: You can be the mayor and chief of police!

In March 2003, Bobby Cave, a business owner from Austin, bought Albert for $216,000. The ultimate American dream may have been too much responsibility, however. In October 2007, Albert was put up for sale on auction website eBay, with a price of $2.5 million.

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    • Kimberly Castro

      Kimberly Castro is the managing editor of Money and Health at U.S. News. You can follow her on Twitter, connect with her on LinkedIn, circle her on Google+, or email her at kcastro@usnews.com.