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    Ready-to-Build Luxury Home Lot Title is generated by Realmo AI

    3721 Mockingbird Lane, Highland Park, TX 75205

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    Claim this Listing
    Pending
    $2,500,000

    LAND - Highland Park, TX

    Lot size:
    0.28 Acres
    Added:
    Apr 26, 2026
    Days on Market:
    42
    Last Refresh:
    Jun 6 at 10:06 am

    Property Features for 3721 Mockingbird Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    60084500400030000
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Description
    HIGHLAND PARK BLK 40 LT 3 & W 10' LT 4
    Tax Annual Amount
    31705

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1922

    We can help!

    Listing Contact
    Maria Figueroa

    Listing agent Maria Figueroa License #0804710

    Listing office DHS Realty PLANO, TX

    Listing date Apr 26, 2026

    MLS# 21232161 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Cleared, ready‑to‑build lot in Highland Park for immediate construction
    • Plans included and in the approval process with the City of Highland Park, anticipated this month
    • Proposed home: approx. 7,000 SF conditioned living space with 4 bedrooms, game room, and private home gym
    • Proposed features include an elevator and a 3‑car garage
    • Outdoor plans call for a resort‑style pool and a spacious terrace
    • Utilities available: public water and public sewer

    Overview

    Situated in the heart of prestigious Highland Park, this fully cleared, ready-to-build residential lot is prepared for immediate construction. The offering also includes a thoughtfully designed set of plans currently in the approval process with the City of Highland Park, anticipated for approval this month, giving flexibility for end-users and builders. Plans envision an approximately 7,000-square-foot conditioned residence with four bedrooms, expansive entertaining areas, a game room, private home gym, elevator, and a three-car garage. Outdoor amenities are built into the design as well, including a resort-style pool and a spacious terrace intended to support seamless indoor-outdoor living. The proposed structure uses light gauge steel framing, engineered for enhanced structural integrity and modern building efficiency, and the package includes a comprehensive design scope with full architectural plans, interior design, structural engineering, landscaping, and lighting plans.

    The property is surrounded by premier estates and is within HPISD. With the site cleared and construction documents already underway, the property is well suited to move efficiently from design into permitting and build execution.

    For buyers looking to start quickly, the cleared homesite reduces pre-development steps. For those who prefer a guided approach, the included design package and in-progress approvals offer a practical pathway to a customized luxury residence while preserving the option to bring in your own vision.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Highland Park
    County
    Dallas
    State
    Texas
    Longitude
    -96.795828
    Latitude
    32.836216

    Nearby Similar for Sale

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    • $8,995,000

      Highland Park Treed Lot

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    FAQs

    What type of property is this?
    Residential land & home lot - Cleared lot in prestigious Highland Park, with approved-for-processing plans option for a custom luxury build.
    Where is this residential land & home lot located?
    The property is located at 3721 Mockingbird Lane Highland Park, TX.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Cleared, ready‑to‑build lot in Highland Park for immediate construction; Plans included and in the approval process with the City of Highland Park, anticipated this month; Proposed home: approx. 7,000 SF conditioned living space with 4 bedrooms, game room, and private home gym
    (972) 979-8413
    We can help!
    Listing Contact
    Maria Figueroa
    Real Estate License ID: 0804710
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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